Pictet Asset Management Holding SA Grows Holdings in CommVault Systems, Inc. $CVLT

Key Points

• Pictet Asset Management Holding SA increased its stake in CommVault Systems by 36.2% in the first quarter, ending with 1,239,225 shares worth about $96.4 million.
• CommVault reported better-than-expected quarterly results, with EPS of $1.28 versus $1.09 expected and revenue of $311.69 million, up 13.3% year over year.
• Despite strong performance, the stock has seen insider selling and ongoing class-action lawsuit attention, while analysts remain cautiously positive with a Moderate Buy consensus and an average price target of $136.33.

Pictet Asset Management Holding SA grew its position in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 36.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,239,225 shares of the software maker's stock after acquiring an additional 329,243 shares during the period. Pictet Asset Management Holding SA owned about 2.82% of CommVault Systems worth $96,447,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. State of Wyoming purchased a new position in shares of CommVault Systems in the 2nd quarter valued at about $35,000. Banque Cantonale Vaudoise acquired a new stake in CommVault Systems in the third quarter valued at approximately $39,000. Advisory Services Network LLC acquired a new stake in CommVault Systems in the third quarter valued at approximately $47,000. EverSource Wealth Advisors LLC increased its position in shares of CommVault Systems by 188.3% in the second quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock valued at $47,000 after buying an additional 177 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of CommVault Systems in the fourth quarter valued at approximately $36,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

CommVault Systems Stock Performance

NASDAQ:CVLT opened at $144.18 on Tuesday. The company has a market cap of $5.97 billion, a P/E ratio of 90.68 and a beta of 0.82. CommVault Systems, Inc. has a twelve month low of $71.75 and a twelve month high of $200.68. The company's 50-day moving average price is $112.43 and its 200-day moving average price is $103.92. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 117.54.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The software maker reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.19. The company had revenue of $311.69 million during the quarter, compared to analysts' expectations of $306.71 million. CommVault Systems had a net margin of 5.97% and a return on equity of 51.64%. CommVault Systems's revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 EPS. On average, sell-side analysts forecast that CommVault Systems, Inc. will post 2.86 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Sanjay Mirchandani sold 8,450 shares of CommVault Systems stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $99.13, for a total transaction of $837,648.50. Following the transaction, the chief executive officer owned 306,927 shares in the company, valued at approximately $30,425,673.51. This trade represents a 2.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gary Merrill sold 4,554 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $106.70, for a total value of $485,911.80. Following the transaction, the chief financial officer directly owned 72,775 shares in the company, valued at $7,765,092.50. This trade represents a 5.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 55,025 shares of company stock worth $5,748,457 over the last ninety days. Corporate insiders own 0.86% of the company's stock.

Trending Headlines about CommVault Systems

Here are the key news stories impacting CommVault Systems this week:

• Positive Sentiment: CVLT rose after reports highlighted a new Native Azure AI cyber resilience deal, suggesting investors are betting on stronger product demand and improved growth prospects.
• Neutral Sentiment: Several law firms, including Rosen, Faruqi & Faruqi, Howard G. Smith, the Schall Law Firm, and Robbins LLP, are reminding investors about the lead-plaintiff deadline in the pending securities class action, keeping Commvault in the legal spotlight. Article Title
• Neutral Sentiment: One article noted that the lawsuit alleges Commvault misled investors about growth prospects during the class period, but this is a continuation of already-known litigation rather than a new development. Article Title
• Negative Sentiment: The repeated class-action notices and investor-loss claims may weigh on sentiment by reinforcing concerns about past disclosures, potential liability, and management credibility. Article Title

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CVLT shares. Mizuho increased their target price on CommVault Systems from $130.00 to $140.00 and gave the company an "outperform" rating in a research report on Wednesday, June 10th. Loop Capital began coverage on shares of CommVault Systems in a report on Tuesday, March 24th. They issued a "buy" rating and a $125.00 price target for the company. Royal Bank Of Canada boosted their target price on shares of CommVault Systems from $100.00 to $110.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 29th. Jefferies Financial Group began coverage on CommVault Systems in a research note on Monday, April 27th. They set a "hold" rating and a $105.00 price objective for the company. Finally, DA Davidson reissued a "buy" rating and set a $125.00 target price on shares of CommVault Systems in a report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, CommVault Systems has a consensus rating of "Moderate Buy" and an average price target of $136.33.

CommVault Systems 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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