NorthCrest Asset Manangement LLC Decreases Stock Holdings in CommVault Systems, Inc. $CVLT

Key Points

• NorthCrest Asset Management LLC reduced its stake in CommVault Systems by 50.9% in Q2, owning 2,827 shares valued at $493,000 after selling 2,926 shares.
• Insider Gary Merrill sold 15,244 shares for approximately $2.71 million, resulting in a 17.51% decrease in his ownership.
• Several analysts have upgraded their price targets for CommVault Systems, with some reaching as high as $225.00, reflecting a consensus rating of "Moderate Buy."

NorthCrest Asset Manangement LLC reduced its position in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 50.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,827 shares of the software maker's stock after selling 2,926 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in CommVault Systems were worth $493,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CVLT. SBI Securities Co. Ltd. grew its stake in shares of CommVault Systems by 101.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 159 shares of the software maker's stock valued at $25,000 after purchasing an additional 80 shares during the period. Whipplewood Advisors LLC grew its stake in shares of CommVault Systems by 584.0% during the 1st quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker's stock valued at $27,000 after purchasing an additional 146 shares during the period. Cullen Frost Bankers Inc. bought a new stake in shares of CommVault Systems during the 1st quarter valued at about $27,000. Brooklyn Investment Group grew its stake in shares of CommVault Systems by 8,550.0% during the 1st quarter. Brooklyn Investment Group now owns 173 shares of the software maker's stock valued at $27,000 after purchasing an additional 171 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of CommVault Systems by 208.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 185 shares of the software maker's stock valued at $29,000 after purchasing an additional 125 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CVLT shares. Wells Fargo & Company boosted their price objective on CommVault Systems from $190.00 to $220.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. DA Davidson boosted their price objective on CommVault Systems from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Piper Sandler boosted their price objective on CommVault Systems from $168.00 to $170.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Wall Street Zen downgraded CommVault Systems from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Finally, Guggenheim set a $220.00 price objective on CommVault Systems in a research note on Tuesday, July 29th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $205.63.

Insiders Place Their Bets

In other news, CFO Jennifer Leigh Dirico sold 14,909 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $182.22, for a total transaction of $2,716,717.98. Following the sale, the chief financial officer directly owned 45,143 shares of the company's stock, valued at $8,225,957.46. This represents a 24.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mirchandani sold 11,320 shares of the company'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 value of $2,013,035.60. Following the sale, the chief executive officer directly owned 458,361 shares in the company, valued at $81,510,336.63. This trade represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,942 shares of company stock valued at $10,019,157 in the last 90 days. 1.00% of the stock is currently owned by company insiders.

CommVault Systems Stock Down 0.5%

NASDAQ CVLT traded down $1.06 during trading hours on Tuesday, reaching $192.66. The company's stock had a trading volume of 142,186 shares, compared to its average volume of 529,192. The firm's 50-day moving average price is $180.96 and its 200-day moving average price is $172.84. 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 $8.57 billion, a price-to-earnings ratio of 107.01 and a beta of 0.74.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The software maker reported $1.01 EPS for the quarter, topping 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 company 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% on a year-over-year basis. CommVault Systems has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. Equities research analysts anticipate that CommVault Systems, Inc. will post 1.65 EPS for the current fiscal year.

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.