Lord Abbett & CO. LLC Lowers Holdings in CommVault Systems, Inc. $CVLT

Key Points

• Lord Abbett & CO. LLC reduced its stake in CommVault Systems by 14.6%, selling 40,800 shares and holding 239,452 shares worth $37.78 million as of the latest SEC filing.
• CommVault Systems reported $1.01 earnings per share for the latest quarter, surpassing analysts' expectations of $0.97, with revenue increasing 26% year-over-year.
• Analysts have raised their price targets for CommVault, with Wells Fargo setting a new target of $220.00, reflecting a strong positive outlook for the company's stock.

Lord Abbett & CO. LLC cut its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 14.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 239,452 shares of the software maker's stock after selling 40,800 shares during the period. Lord Abbett & CO. LLC owned about 0.54% of CommVault Systems worth $37,776,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. SBI Securities Co. Ltd. raised its holdings in CommVault Systems by 101.3% during the first quarter. SBI Securities Co. Ltd. now owns 159 shares of the software maker's stock worth $25,000 after buying an additional 80 shares during the last quarter. Quarry LP lifted its stake in shares of CommVault Systems by 888.2% during the 4th quarter. Quarry LP now owns 168 shares of the software maker's stock valued at $25,000 after buying an additional 151 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in CommVault Systems in the first quarter valued at $27,000. Whipplewood Advisors LLC raised its position in CommVault Systems by 584.0% in the 1st quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker's stock worth $27,000 after purchasing an additional 146 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in CommVault Systems by 208.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 185 shares of the software maker's stock worth $29,000 after acquiring an additional 125 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CommVault Systems

In related news, CEO Sanjay Mirchandani sold 1,709 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $299,075.00. Following the sale, the chief executive officer owned 469,648 shares of the company's stock, valued at $82,188,400. This trade represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary Merrill sold 1,748 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $174.91, for a total transaction of $305,742.68. Following the sale, the insider directly owned 89,923 shares in the company, valued at approximately $15,728,431.93. The trade was a 1.91% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

CommVault Systems Stock Down 2.4%

Shares of CommVault Systems stock traded down $4.3770 during trading hours on Tuesday, reaching $175.4030. 150,415 shares of the company's stock were exchanged, compared to its average volume of 493,933. CommVault Systems, Inc. has a 1 year low of $128.07 and a 1 year high of $200.68. The company has a market capitalization of $7.80 billion, a P/E ratio of 97.59 and a beta of 0.70. The business has a fifty day moving average of $177.58 and a two-hundred day moving average of $171.06.

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 net margin of 7.70% and a return on equity of 30.83%. The firm had revenue of $281.98 million during the quarter, compared to analyst estimates of $267.83 million. The company'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. As a group, research analysts predict that CommVault Systems, Inc. will post 1.65 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on CVLT. Royal Bank Of Canada lifted their target price 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. Guggenheim set a $220.00 target price on shares of CommVault Systems in a report on Tuesday, July 29th. Piper Sandler boosted their target price on shares of CommVault Systems from $168.00 to $170.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. KeyCorp lifted their price objective on shares of CommVault Systems from $195.00 to $225.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, Oppenheimer lifted their price objective on shares of CommVault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $205.63.

CommVault Systems Company 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.