WINTON GROUP Ltd Cuts Stock Holdings in CommVault Systems, Inc. $CVLT

Key Points

• WINTON GROUP Ltd cut its CommVault Systems stake by 79.3% in the second quarter, selling 10,700 shares and retaining 2,800 shares valued at approximately $397,000. Institutional investors collectively own 93.5% of CVLT.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $152.62, although ratings range from “Neutral” to “Buy.”
• CommVault reported stronger-than-expected quarterly results, posting $1.42 in EPS versus a $1.16 estimate and $314.13 million in revenue, up 11.4% year over year.

WINTON GROUP Ltd reduced its holdings in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 79.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,800 shares of the software maker's stock after selling 10,700 shares during the period. WINTON GROUP Ltd's holdings in CommVault Systems were worth $397,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of CVLT. Integrated Wealth Concepts LLC purchased a new stake in shares of CommVault Systems in the second quarter valued at approximately $371,000. NewEdge Advisors LLC acquired a new position in shares of CommVault Systems in the second quarter worth $215,000. Allworth Financial LP increased its holdings in CommVault Systems by 190.6% during the 2nd quarter. Allworth Financial LP now owns 2,095 shares of the software maker's stock worth $297,000 after purchasing an additional 1,374 shares during the period. Waverly Advisors LLC purchased a new stake in shares of CommVault Systems during the second quarter worth approximately $318,000. Finally, Nykredit A S acquired a new position in CommVault Systems during the 2nd quarter worth approximately $285,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Buying and Selling at CommVault Systems

In other CommVault Systems news, CFO Gary Merrill sold 1,854 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $143.64, for a total transaction of $266,308.56. Following the sale, the chief financial officer owned 70,921 shares in the company, valued at approximately $10,187,092.44. This represents a 2.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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, Director A. Shane Sanders sold 476 shares of the firm's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $134.19, for a total value of $63,874.44. Following the transaction, the director directly owned 8,696 shares of the company's stock, valued at $1,166,916.24. The trade was a 5.19% 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. Over the last 90 days, insiders sold 29,602 shares of company stock worth $4,240,541. 0.86% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CVLT has been the topic of a number of analyst reports. DA Davidson set a $175.00 price objective on shares of CommVault Systems in a report on Wednesday, July 29th. Piper Sandler cut CommVault Systems from an "overweight" rating to a "neutral" rating and set a $133.00 target price for the company. in a research note on Tuesday, July 28th. Scotiabank reaffirmed a "sector perform" rating and issued a $130.00 price target on shares of CommVault Systems in a report on Wednesday, July 29th. Truist Financial lifted their price target on shares of CommVault Systems from $155.00 to $182.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Finally, Wall Street Zen raised shares of CommVault Systems from a "hold" rating to a "buy" rating in a research report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, CommVault Systems currently has an average rating of "Moderate Buy" and a consensus target price of $152.62.

CommVault Systems Price Performance

CVLT stock opened at $145.21 on Thursday. The firm has a 50 day moving average of $137.77 and a 200-day moving average of $115.76. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 16.94. The company has a market cap of $6.02 billion, a price-to-earnings ratio of 92.49 and a beta of 0.82. CommVault Systems, Inc. has a 12-month low of $71.75 and a 12-month high of $198.18.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last posted its earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.26. The firm had revenue of $314.13 million during the quarter, compared to the consensus estimate of $310.43 million. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The firm's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the firm posted $1.01 EPS. As a group, equities analysts expect that CommVault Systems, Inc. will post 2.84 EPS for the current fiscal year.

CommVault Systems Company Profile

Commvault Systems, Inc develops data protection and cyber resilience software for organizations seeking to secure, manage and recover data across on-premises, cloud and hybrid environments. Its technology is designed to help businesses protect workloads, reduce the risk of data loss and maintain operations following system failures, cyberattacks or other disruptions.

The company's offerings include backup and recovery, disaster recovery, data security, cyber recovery and cloud data management solutions.

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