Pier Capital LLC Invests $7.32 Million in CommVault Systems, Inc. $CVLT

Key Points

• Pier Capital LLC initiated a new stake in CommVault (NASDAQ:CVLT) in Q4, buying 58,367 shares worth approximately $7.32 million, equal to about 0.13% of the company.
• Company insiders sold a total of 31,355 shares in the last quarter (including CEO Sanjay Mirchandani's 10,052-share sale at about $80.09 and Gary Merrill's 1,892-share sale at about $91.28), totaling roughly $2.61 million in disposals.
• CommVault beat quarterly expectations with $1.28 EPS (vs. $1.09 est.) and $311.69M revenue (up 13.3% YoY); the stock has a market cap near $4.55B and a consensus analyst rating of "Moderate Buy" with a $135 price target.

Pier Capital LLC acquired a new stake in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 58,367 shares of the software maker's stock, valued at approximately $7,317,000. Pier Capital LLC owned approximately 0.13% of CommVault Systems as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. State of Wyoming bought a new stake in shares of CommVault Systems in the 2nd quarter valued at $35,000. Banque Cantonale Vaudoise bought a new stake in shares of CommVault Systems in the 3rd quarter valued at $39,000. Cullen Frost Bankers Inc. increased its stake in shares of CommVault Systems by 43.8% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 243 shares of the software maker's stock valued at $46,000 after acquiring an additional 74 shares in the last quarter. Assetmark Inc. increased its stake in shares of CommVault Systems by 2,950.0% in the 3rd quarter. Assetmark Inc. now owns 244 shares of the software maker's stock valued at $46,000 after acquiring an additional 236 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of CommVault Systems in the 3rd quarter valued at $47,000. Institutional investors own 93.50% of the company's stock.

Insider Buying and Selling at CommVault Systems

In other news, insider Gary Merrill sold 1,892 shares of the company's stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $91.28, for a total value of $172,701.76. Following the completion of the sale, the insider owned 62,833 shares in the company, valued at $5,735,396.24. This represents a 2.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sanjay Mirchandani sold 10,052 shares of the company's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $80.09, for a total transaction of $805,064.68. Following the completion of the sale, the chief executive officer owned 332,529 shares of the company's stock, valued at approximately $26,632,247.61. The trade was a 2.93% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 31,355 shares of company stock valued at $2,613,165. Company insiders own 1.00% of the company's stock.

CommVault Systems Stock Performance

Shares of CVLT stock opened at $103.38 on Friday. The firm has a market capitalization of $4.55 billion, a PE ratio of 65.02 and a beta of 0.77. The firm has a fifty day simple moving average of $86.42 and a two-hundred day simple moving average of $108.17. The company has a current ratio of 1.95, a quick ratio of 2.34 and a debt-to-equity ratio of 117.54. CommVault Systems, Inc. has a 12 month low of $71.75 and a 12 month high of $200.68.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The software maker reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.19. The business had revenue of $311.69 million during the quarter, compared to analyst estimates of $306.71 million. CommVault Systems had a net margin of 5.97% and a return on equity of 51.64%. CommVault Systems's quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 EPS. Analysts forecast that CommVault Systems, Inc. will post 2.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CVLT has been the subject of several research analyst reports. Guggenheim lowered their price objective on shares of CommVault Systems from $200.00 to $175.00 and set a "buy" rating for the company in a research note on Wednesday, January 28th. Wolfe Research initiated coverage on shares of CommVault Systems in a research note on Friday, May 1st. They issued a "peer perform" rating for the company. Scotiabank lifted their price objective on shares of CommVault Systems from $105.00 to $110.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 29th. William Blair restated a "market perform" rating on shares of CommVault Systems in a research note on Monday, March 23rd. Finally, Wall Street Zen upgraded shares of CommVault Systems from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $135.00.

About CommVault Systems

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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