Pinnacle Wealth Management LLC Buys New Position in CommVault Systems, Inc. $CVLT

Key Points

• Pinnacle Wealth Management LLC acquired 4,325 shares of CommVault Systems, valued at approximately $682,000, making it the fund's 27th largest holding.
• CommVault Systems' revenue rose by 26% year-over-year, with quarterly earnings of $1.01 per share, exceeding expectations by $0.04.
• Research firms have recently raised price targets for CommVault shares, with KeyCorp increasing its target from $195 to $225, reflecting a strong optimistic outlook on the stock.

Pinnacle Wealth Management LLC acquired a new position in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,325 shares of the software maker's stock, valued at approximately $682,000. CommVault Systems makes up approximately 0.8% of Pinnacle Wealth Management LLC's investment portfolio, making the stock its 27th biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new stake in CommVault Systems during the first quarter worth approximately $243,000. Asset Management One Co. Ltd. acquired a new stake in CommVault Systems during the first quarter worth approximately $1,229,000. Principal Financial Group Inc. increased its holdings in shares of CommVault Systems by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 122,042 shares of the software maker's stock valued at $19,253,000 after acquiring an additional 1,668 shares during the period. Yorktown Management & Research Co Inc acquired a new position in shares of CommVault Systems in the 1st quarter valued at $260,000. Finally, Wedge Capital Management L L P NC increased its holdings in shares of CommVault Systems by 1,936.0% in the 1st quarter. Wedge Capital Management L L P NC now owns 360,355 shares of the software maker's stock valued at $56,850,000 after acquiring an additional 342,656 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Transactions at CommVault Systems

In other news, CEO Sanjay Mirchandani sold 11,320 shares of CommVault Systems stock in a transaction on Monday, August 18th. The stock was sold at an average price of $177.83, for a total transaction of $2,013,035.60. Following the completion of the transaction, the chief executive officer owned 458,361 shares of the company's stock, valued at $81,510,336.63. The trade was a 2.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Jennifer Leigh Dirico sold 11,151 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $178.03, for a total transaction of $1,985,212.53. Following the completion of the transaction, the chief financial officer directly owned 60,052 shares of the company's stock, valued at $10,691,057.56. The trade was a 15.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,099 shares of company stock valued at $4,466,111 in the last 90 days. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on CVLT. Oppenheimer lifted their target price on shares of CommVault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. DA Davidson lifted their target price on shares of CommVault Systems from $200.00 to $220.00 and gave the company a "buy" 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. Royal Bank Of Canada lifted their price objective on shares of CommVault Systems from $185.00 to $217.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th. Finally, 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 report on Wednesday, July 30th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, CommVault Systems has a consensus rating of "Moderate Buy" and a consensus price target of $205.63.

CommVault Systems Trading Up 2.6%

Shares of NASDAQ:CVLT traded up $4.61 during midday trading on Friday, hitting $181.04. 354,290 shares of the stock were exchanged, compared to its average volume of 492,252. The stock has a market cap of $8.05 billion, a P/E ratio of 100.58 and a beta of 0.70. CommVault Systems, Inc. has a twelve month low of $128.07 and a twelve month high of $200.68. The company has a 50 day moving average price of $176.93 and a 200-day moving average price of $171.25.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The software maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.04. The business had revenue of $281.98 million during the quarter, compared to the consensus estimate of $267.83 million. CommVault Systems had a return on equity of 30.83% and a net margin of 7.70%.The business's revenue for the quarter 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. On average, equities research analysts expect that CommVault Systems, Inc. will post 1.65 earnings per share for the current year.

About CommVault Systems

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.