First Trust Advisors LP Has $77.48 Million Position in CommVault Systems, Inc. $CVLT

Key Points

• First Trust Advisors LP reduced its CommVault Systems stake by 35.3% in Q1, but still held 994,702 shares worth about $77.5 million at quarter-end.
• CommVault reported a strong quarterly beat, posting $1.28 EPS versus the $1.09 estimate and revenue of $311.69 million, up 13.3% year over year.
• Insider selling occurred recently, including stock sales by CEO Sanjay Mirchandani and CFO Gary Merrill; meanwhile, analysts currently rate the stock a Moderate Buy with an average target price of $145.47.

First Trust Advisors LP cut its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 35.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 994,702 shares of the software maker's stock after selling 542,332 shares during the period. First Trust Advisors LP owned about 2.26% of CommVault Systems worth $77,477,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. State of Wyoming acquired a new position in shares of CommVault Systems during the second quarter worth $35,000. Banque Cantonale Vaudoise acquired a new stake in CommVault Systems in the third quarter valued at $39,000. Advisory Services Network LLC bought a new position in shares of CommVault Systems during the third quarter worth about $47,000. EverSource Wealth Advisors LLC raised its holdings in CommVault Systems by 188.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock worth $47,000 after purchasing an additional 177 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in CommVault Systems in the fourth quarter valued at $36,000. 93.50% of the stock is owned by institutional investors.

Insider Transactions at CommVault Systems

In other news, CEO Sanjay Mirchandani sold 8,450 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $99.13, for a total transaction of $837,648.50. Following the transaction, the chief executive officer directly owned 306,927 shares of the company's stock, valued at $30,425,673.51. This represents a 2.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gary Merrill sold 4,554 shares of CommVault Systems stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $106.70, for a total transaction of $485,911.80. Following the transaction, the chief financial officer owned 72,775 shares in the company, valued at $7,765,092.50. This represents a 5.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 55,279 shares of company stock valued at $5,786,557 in the last ninety days. 0.86% of the stock is currently owned by corporate insiders.

CommVault Systems Stock Up 0.8%

Shares of CommVault Systems stock opened at $142.31 on Friday. The company has a debt-to-equity ratio of 117.54, a quick ratio of 1.95 and a current ratio of 1.95. CommVault Systems, Inc. has a 52-week low of $71.75 and a 52-week high of $200.68. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of 89.50 and a beta of 0.79. The company's 50 day moving average price is $130.92 and its 200-day moving average price is $107.03.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The software maker reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.19. The company had revenue of $311.69 million for the quarter, compared to the consensus estimate of $306.71 million. CommVault Systems had a return on equity of 51.64% and a net margin of 5.97%.CommVault Systems's revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 EPS. Equities research analysts forecast that CommVault Systems, Inc. will post 2.88 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CVLT shares. Weiss Ratings upgraded shares of CommVault Systems from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, June 16th. Oppenheimer raised their price target on shares of CommVault Systems from $150.00 to $175.00 and gave the stock an "outperform" rating in a research note on Friday, July 17th. Royal Bank Of Canada boosted their price objective on CommVault Systems from $100.00 to $110.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 29th. Stephens upped their price objective on shares of CommVault Systems from $135.00 to $155.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 16th. Finally, Zacks Research cut CommVault Systems from a "strong-buy" rating to a "hold" rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $145.47.

CommVault Systems Company Profile

Commvault Systems, Inc is a global provider of data protection and information management software designed to help organizations manage, protect, and activate data across on-premises and cloud environments. Founded in 1996 and headquartered in Tinton Falls, New Jersey, Commvault offers a suite of integrated products and services that enable enterprises to back up, recover, archive, and analyze data. Its flagship solutions include Commvault Complete Data Protection, Commvault HyperScale, and the SaaS-based Metallic portfolio, which deliver scalable and automated data management capabilities across hybrid infrastructure environments.

Commvault's platform is built on a unified architecture that allows customers to streamline operations, reduce complexity, and ensure data resiliency.

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