M&T Bank Corp Raises Holdings in CommVault Systems, Inc. $CVLT

Key Points

• M&T Bank Corp massively increased its stake in CommVault, buying 607,354 shares in Q4—a 22,133.9% increase—bringing its holding to 610,098 shares (about 1.38% of the company) valued at ~$76.48 million.
• Multiple analysts have cut price targets on CVLT recently, but the consensus remains a "Moderate Buy" with an average target price of $134.86.
• CommVault beat the quarter (EPS $1.17 vs. $0.98; revenue $313.8M, up 19.5% YoY), yet insiders have been net sellers—CEO Sanjay Mirchandani sold 10,338 shares and insiders sold 31,355 shares over the past 90 days.

M&T Bank Corp boosted its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 22,133.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 610,098 shares of the software maker's stock after buying an additional 607,354 shares during the quarter. M&T Bank Corp owned approximately 1.38% of CommVault Systems worth $76,482,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. State of Wyoming purchased a new position in CommVault Systems in the second quarter worth $35,000. Banque Cantonale Vaudoise purchased a new position in CommVault Systems in the third quarter worth $39,000. Cullen Frost Bankers Inc. grew its holdings in CommVault Systems by 43.8% in the third quarter. Cullen Frost Bankers Inc. now owns 243 shares of the software maker's stock worth $46,000 after purchasing an additional 74 shares during the last quarter. Assetmark Inc. grew its holdings in CommVault Systems by 2,950.0% in the third quarter. Assetmark Inc. now owns 244 shares of the software maker's stock worth $46,000 after purchasing an additional 236 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in CommVault Systems in the third quarter worth $47,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVLT has been the topic of several analyst reports. Cantor Fitzgerald cut their price target on shares of CommVault Systems from $144.00 to $100.00 and set a "neutral" rating on the stock in a report on Wednesday, January 28th. Royal Bank Of Canada cut their price target on shares of CommVault Systems from $167.00 to $100.00 and set a "sector perform" rating on the stock in a report on Wednesday, January 28th. Stephens cut their price target on shares of CommVault Systems from $162.00 to $135.00 and set an "overweight" rating on the stock in a report on Wednesday, January 28th. Oppenheimer cut their price target on shares of CommVault Systems from $180.00 to $150.00 and set an "outperform" rating on the stock in a report on Wednesday, January 28th. Finally, Wall Street Zen lowered shares of CommVault Systems from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, CommVault Systems presently has an average rating of "Moderate Buy" and an average target price of $134.86.

Insiders Place Their Bets

In related news, CEO Sanjay Mirchandani sold 10,338 shares of the business's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $78.96, for a total transaction of $816,288.48. Following the completion of the transaction, the chief executive officer directly owned 342,581 shares in the company, valued at $27,050,195.76. The trade was a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gary Merrill sold 2,593 shares of the business's stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $90.28, for a total transaction of $234,096.04. Following the transaction, the insider owned 64,725 shares of the company's stock, valued at $5,843,373. This represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 31,355 shares of company stock valued at $2,613,165 over the last 90 days. 1.00% of the stock is currently owned by insiders.

CommVault Systems Trading Down 2.4%

NASDAQ:CVLT opened at $93.63 on Wednesday. The company has a market capitalization of $4.12 billion, a P/E ratio of 48.26 and a beta of 0.63. The firm has a fifty day simple moving average of $84.69 and a 200-day simple moving average of $113.54. CommVault Systems, Inc. has a 12 month low of $71.75 and a 12 month high of $200.68. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 4.06.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last posted its earnings results on Tuesday, January 27th. The software maker reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.19. The company had revenue of $313.83 million during the quarter, compared to the consensus estimate of $299.07 million. CommVault Systems had a net margin of 7.58% and a return on equity of 37.38%. The firm's quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 earnings per share. On average, equities research analysts anticipate that CommVault Systems, Inc. will post 2.13 earnings per share for the current 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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