KLP Kapitalforvaltning AS Has $2.34 Million Stock Holdings in CommVault Systems, Inc. $CVLT

Key Points

• KLP Kapitalforvaltning AS reduced its stake in CommVault Systems by 19.3% during Q2, now holding 13,400 shares valued at approximately $2.34 million.
• CommVault's earnings surpassed expectations with $1.01 EPS, and the company reported a 26% increase in revenue year-over-year to $281.98 million.
• Wall Street analysts have set a consensus price target of $208.33 for CommVault, indicating a potential for growth despite recent insider selling activity.

KLP Kapitalforvaltning AS cut its position in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 19.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,400 shares of the software maker's stock after selling 3,200 shares during the quarter. KLP Kapitalforvaltning AS's holdings in CommVault Systems were worth $2,336,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new stake in CommVault Systems during the first quarter worth about $243,000. Asset Management One Co. Ltd. acquired a new stake in CommVault Systems during the first quarter worth about $1,229,000. Principal Financial Group Inc. grew its position in CommVault Systems by 1.4% during the first quarter. Principal Financial Group Inc. now owns 122,042 shares of the software maker's stock worth $19,253,000 after buying an additional 1,668 shares in the last quarter. Yorktown Management & Research Co Inc acquired a new stake in CommVault Systems during the first quarter worth about $260,000. Finally, Diversified Trust Co bought a new position in CommVault Systems during the first quarter worth about $524,000. 93.50% of the stock is owned by institutional investors and hedge funds.

CommVault Systems Trading Down 3.6%

NASDAQ:CVLT opened at $170.20 on Friday. CommVault Systems, Inc. has a 1 year low of $128.07 and a 1 year high of $200.68. The firm has a 50 day moving average of $183.42 and a 200-day moving average of $174.93. The stock has a market capitalization of $7.57 billion, a P/E ratio of 94.56 and a beta of 0.72.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last posted its earnings results 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 net margin of 7.70% and a return on equity of 30.83%. The company had revenue of $281.98 million during the quarter, compared to analysts' expectations of $267.83 million. The business's revenue for the quarter 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. As a group, analysts forecast that CommVault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Insider Activity

In other news, insider Gary Merrill sold 15,244 shares of CommVault Systems stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $178.01, for a total value of $2,713,584.44. Following the completion of the transaction, the insider owned 71,837 shares in the company, valued at approximately $12,787,704.37. The trade was a 17.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sanjay Mirchandani sold 11,320 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $177.83, for a total transaction of $2,013,035.60. Following the completion of the transaction, the chief executive officer owned 458,361 shares of the company's stock, valued at $81,510,336.63. This trade represents a 2.41% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,942 shares of company stock worth $10,019,157. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wall Street Zen cut shares of CommVault Systems from a "strong-buy" rating to a "buy" rating in a research note on Sunday, September 21st. Royal Bank Of Canada raised their price target on shares of CommVault Systems from $185.00 to $217.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. DA Davidson raised their price target on shares of CommVault Systems from $200.00 to $220.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Weiss Ratings restated a "hold (c)" rating on shares of CommVault Systems in a research note on Wednesday. Finally, Wells Fargo & Company raised their price target on shares of CommVault Systems from $190.00 to $220.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $208.33.

CommVault Systems Profile

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.

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