Wedge Capital Management L L P NC Sells 22,400 Shares of CommVault Systems, Inc. $CVLT

Key Points

• Wedge Capital Management reduced its holdings in CommVault Systems by 6.2%, selling 22,400 shares and still retaining approximately 337,955 shares, valued at $58.9 million.
• Several institutional investors, including Brooklyn Investment Group and Whipplewood Advisors, significantly increased their stakes in CommVault during the first quarter, indicating positive investor sentiment.
• CommVault's stock has received multiple upgrades from analysts, with target prices raised to as high as $220.00, reflecting strong earnings performance and growth expectations.

Wedge Capital Management L L P NC trimmed its holdings in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 6.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 337,955 shares of the software maker's stock after selling 22,400 shares during the quarter. CommVault Systems makes up approximately 1.1% of Wedge Capital Management L L P NC's holdings, making the stock its 22nd biggest position. Wedge Capital Management L L P NC owned 0.76% of CommVault Systems worth $58,916,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Frank Rimerman Advisors LLC lifted its stake in shares of CommVault Systems by 3.8% during the 1st quarter. Frank Rimerman Advisors LLC now owns 1,709 shares of the software maker's stock worth $270,000 after acquiring an additional 63 shares during the last quarter. NorthCrest Asset Manangement LLC increased its position in CommVault Systems by 1.3% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 5,753 shares of the software maker's stock valued at $908,000 after buying an additional 72 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in 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 last quarter. Johnson Investment Counsel Inc. boosted its stake in shares of CommVault Systems by 6.7% in the first quarter. Johnson Investment Counsel Inc. now owns 1,451 shares of the software maker's stock worth $229,000 after buying an additional 91 shares during the last quarter. Finally, Vident Advisory LLC boosted its stake in shares of CommVault Systems by 0.3% in the first quarter. Vident Advisory LLC now owns 27,107 shares of the software maker's stock worth $4,276,000 after buying an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Insider Activity at CommVault Systems

In other news, CEO Sanjay Mirchandani sold 11,320 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $177.83, for a total transaction of $2,013,035.60. Following the transaction, the chief executive officer directly owned 458,361 shares in the company, valued at $81,510,336.63. The trade was a 2.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Allison Pickens sold 690 shares of the business's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $177.89, for a total transaction of $122,744.10. Following the transaction, the director directly owned 5,166 shares of the company's stock, valued at approximately $918,979.74. This represents a 11.78% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,942 shares of company stock valued at $10,019,157. Insiders own 1.00% of the company's stock.

CommVault Systems Stock Down 0.8%

Shares of CommVault Systems stock traded down $1.51 during trading hours on Tuesday, hitting $192.22. 199,952 shares of the company's stock traded hands, compared to its average volume of 529,437. The stock has a 50 day simple moving average of $180.96 and a 200-day simple moving average of $172.84. CommVault Systems, Inc. has a twelve month low of $128.07 and a twelve month high of $200.68. The company has a market cap of $8.55 billion, a PE ratio of 106.75 and a beta of 0.74.

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 for the quarter, beating 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. The business's revenue for the quarter was up 26% on a year-over-year basis. CommVault Systems has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. As a group, equities research analysts predict that CommVault Systems, Inc. will post 1.65 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on CVLT. Wells Fargo & Company increased their price target on CommVault Systems from $190.00 to $220.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Wall Street Zen lowered CommVault Systems from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Guggenheim set a $220.00 target price on CommVault Systems in a report on Tuesday, July 29th. Piper Sandler raised their price target on CommVault Systems from $168.00 to $170.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Finally, DA Davidson raised their price target on CommVault Systems from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, CommVault Systems has an average rating of "Moderate Buy" and an average target price of $205.63.

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.