HighTower Advisors LLC Buys 1,924 Shares of CommVault Systems, Inc. $CVLT

Key Points

• HighTower Advisors LLC increased its stake in CommVault Systems by 13.6% during Q1, acquiring an additional 1,924 shares, bringing its total holdings to 16,040 shares worth approximately $2.53 million.
• CommVault Systems received several analyst price target upgrades, with Oppenheimer setting a new target at $200, while KeyCorp raised their target to $225, indicating strong market confidence in the stock's potential.
• CommVault's financial performance showed a year-over-year revenue growth of 26%, reporting $281.98 million for the quarter and beating the consensus earnings estimate of $0.97 per share, with actual earnings of $1.01 per share.

HighTower Advisors LLC grew its position in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 13.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,040 shares of the software maker's stock after acquiring an additional 1,924 shares during the quarter. HighTower Advisors LLC's holdings in CommVault Systems were worth $2,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new position in CommVault Systems during the 1st quarter worth $243,000. Asset Management One Co. Ltd. purchased a new position in CommVault Systems during the 1st quarter worth $1,229,000. Principal Financial Group Inc. boosted its holdings in CommVault Systems by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 122,042 shares of the software maker's stock worth $19,253,000 after acquiring an additional 1,668 shares during the last quarter. Yorktown Management & Research Co Inc purchased a new position in CommVault Systems during the 1st quarter worth $260,000. Finally, Wedge Capital Management L L P NC boosted its holdings in CommVault Systems by 1,936.0% during the 1st quarter. Wedge Capital Management L L P NC now owns 360,355 shares of the software maker's stock worth $56,850,000 after acquiring an additional 342,656 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CommVault Systems

In related news, CFO Jennifer Leigh Dirico sold 11,151 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $178.03, for a total value of $1,985,212.53. Following the sale, the chief financial officer directly owned 60,052 shares in the company, valued at approximately $10,691,057.56. The trade was a 15.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mirchandani sold 11,320 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $177.83, for a total value of $2,013,035.60. Following the completion of the sale, the chief executive officer owned 458,361 shares in the company, valued at $81,510,336.63. This represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,099 shares of company stock worth $4,466,111. Company insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Oppenheimer lifted their price objective on shares of CommVault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Royal Bank Of Canada boosted their price target on shares of CommVault Systems from $185.00 to $217.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 30th. DA Davidson boosted their price target on shares of CommVault Systems from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Wall Street Zen downgraded shares of CommVault Systems from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Finally, KeyCorp boosted their price target on shares of CommVault Systems from $195.00 to $225.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, CommVault Systems presently has an average rating of "Moderate Buy" and a consensus price target of $205.63.

CommVault Systems Stock Up 1.9%

CommVault Systems stock traded up $3.56 during midday trading on Thursday, reaching $187.74. The stock had a trading volume of 259,210 shares, compared to its average volume of 443,725. CommVault Systems, Inc. has a 12 month low of $128.07 and a 12 month high of $200.68. The firm's 50-day moving average price is $176.68 and its 200 day moving average price is $171.54. The firm has a market capitalization of $8.35 billion, a PE ratio of 104.30 and a beta of 0.70.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The software maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.04. CommVault Systems had a return on equity of 30.83% and a net margin of 7.70%.The business had revenue of $281.98 million for the quarter, compared to analysts' expectations of $267.83 million. CommVault Systems's quarterly revenue was up 26% compared to the same quarter last year. CommVault Systems has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. Equities research analysts expect that CommVault Systems, Inc. will post 1.65 EPS for the current year.

About CommVault Systems

Commvault Systems, Inc provides data protection platform that helps customers to secure, defend, and recover their data in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; Commvault Complete Data Protection, a data protection solution; and Metallic Data Protection as-a-service, which delivers enterprise-grade data protection as a service on a cloud platform, with advanced built-in security controls.