Fisher Asset Management LLC Buys New Position in CommVault Systems, Inc. $CVLT

Key Points

• Fisher Asset Management opened a new position in CommVault Systems, buying 162,364 shares valued at about $20.35 million in the fourth quarter.
• Institutional ownership remains heavy, with 93.5% of CVLT shares held by hedge funds and other institutions; several firms also recently increased their stakes significantly.
• Analysts are broadly constructive despite some mixed views, with a Moderate Buy consensus and a $135 average price target, while recent earnings beat estimates on both EPS and revenue.

Fisher Asset Management LLC bought a new stake in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 162,364 shares of the software maker's stock, valued at approximately $20,354,000. Fisher Asset Management LLC owned 0.37% of CommVault Systems at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CVLT. Tudor Investment Corp ET AL purchased a new position in CommVault Systems during the 3rd quarter valued at about $1,887,800,000. First Trust Advisors LP boosted its holdings in CommVault Systems by 1,335.8% during the 3rd quarter. First Trust Advisors LP now owns 1,224,856 shares of the software maker's stock valued at $231,228,000 after acquiring an additional 1,139,547 shares during the period. M&T Bank Corp boosted its holdings in CommVault Systems by 22,133.9% during the 4th quarter. M&T Bank Corp now owns 610,098 shares of the software maker's stock valued at $76,482,000 after acquiring an additional 607,354 shares during the period. Westfield Capital Management Co. LP boosted its holdings in CommVault Systems by 135.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 786,175 shares of the software maker's stock valued at $148,414,000 after acquiring an additional 452,422 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in CommVault Systems by 60.8% during the 2nd quarter. AQR Capital Management LLC now owns 893,385 shares of the software maker's stock valued at $155,744,000 after acquiring an additional 337,830 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CVLT shares. Zacks Research cut CommVault Systems from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 1st. DA Davidson reiterated a "buy" rating and issued a $125.00 price objective on shares of CommVault Systems in a research note on Monday, April 13th. KeyCorp lifted their price objective on CommVault Systems from $108.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. Oppenheimer decreased their price objective on CommVault Systems from $180.00 to $150.00 and set an "outperform" rating for the company in a research note on Wednesday, January 28th. Finally, Truist Financial reiterated a "buy" rating and issued a $155.00 price objective (down from $175.00) on shares of CommVault Systems in a research note on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, CommVault Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $135.00.

Insider Buying and Selling

In related news, CAO Danielle Nicole Abrahamsen sold 277 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $106.70, for a total transaction of $29,555.90. Following the completion of the sale, the chief accounting officer owned 13,166 shares in the company, valued at $1,404,812.20. The trade was a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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, CEO Sanjay Mirchandani sold 8,450 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $99.13, for a total value of $837,648.50. Following the sale, the chief executive officer owned 306,927 shares of the company's stock, valued at approximately $30,425,673.51. The trade was a 2.68% 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 sold a total of 75,415 shares of company stock worth $7,369,811 over the last 90 days. 1.00% of the stock is owned by insiders.

Trending Headlines about CommVault Systems

Here are the key news stories impacting CommVault Systems this week:

• Positive Sentiment: Commvault is scheduled to present at the William Blair Growth Conference on June 2, which may help reinforce its growth story and keep investor attention on the business. Commvault to Present at the William Blair Growth Conference
• Neutral Sentiment: Chief Financial Officer Gary Merrill and Chief Accounting Officer Danielle Nicole Abrahamsen disclosed small share sales under pre-arranged 10b5-1 plans tied to tax withholding on equity awards, which is routine and not usually viewed as a major negative signal.
• Negative Sentiment: Several law firms publicly promoted class-action claims against Commvault, reinforcing the market’s focus on the pending securities-fraud case and the earlier sharp selloff tied to weaker-than-expected ARR growth. CVLT Shareholder Alert: Investors With Losses May Seek to Lead the Class Action in Commvault Systems, Inc. Securities Lawsuit

CommVault Systems Stock Performance

Shares of CVLT opened at $107.24 on Thursday. The stock has a 50-day simple moving average of $92.09 and a 200-day simple moving average of $103.52. The company has a debt-to-equity ratio of 117.54, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market capitalization of $4.42 billion, a PE ratio of 67.45 and a beta of 0.77. CommVault Systems, Inc. has a 1 year low of $71.75 and a 1 year high of $200.68.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last posted its earnings results on Tuesday, April 28th. The software maker reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.19. The firm had revenue of $311.69 million during the quarter, compared to analysts' expectations of $306.71 million. CommVault Systems had a return on equity of 51.64% and a net margin of 5.97%.The firm'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 earnings per share. On average, analysts predict that CommVault Systems, Inc. will post 2.86 earnings per share for the current fiscal year.

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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