The Manufacturers Life Insurance Company Purchases 74,004 Shares of CommVault Systems, Inc. $CVLT

The Manufacturers Life Insurance Company raised its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 19.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 456,457 shares of the software maker’s stock after purchasing an additional 74,004 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in CommVault Systems were worth $35,553,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. State of Wyoming bought a new stake in shares of CommVault Systems in the second quarter valued at approximately $35,000. FNY Investment Advisers LLC purchased a new stake in shares of CommVault Systems during the 4th quarter valued at approximately $36,000. Banque Cantonale Vaudoise bought a new position in CommVault Systems in the 3rd quarter worth approximately $39,000. Assetmark Inc. grew its stake in CommVault Systems by 33.6% in the 4th quarter. Assetmark Inc. now owns 326 shares of the software maker’s stock valued at $41,000 after buying an additional 82 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in CommVault Systems by 188.3% in the 2nd 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. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling at CommVault Systems

In other CommVault Systems news, CEO Sanjay Mirchandani sold 19,396 shares of CommVault Systems stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $105.49, for a total transaction of $2,046,084.04. Following the transaction, the chief executive officer directly owned 315,377 shares of the company’s stock, valued at approximately $33,269,119.73. This trade represents a 5.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 4,560 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $105.10, for a total transaction of $479,256.00. Following the completion of the sale, the chief financial officer owned 72,507 shares of the company’s stock, valued at approximately $7,620,485.70. The trade was a 5.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 have sold 55,279 shares of company stock worth $5,786,557 over the last ninety days. Insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on CVLT shares. Royal Bank Of Canada increased their target price on CommVault Systems from $100.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. Wall Street Zen cut CommVault Systems from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Cantor Fitzgerald reiterated a “neutral” rating and set a $132.00 price objective on shares of CommVault Systems in a research note on Monday. Wolfe Research assumed coverage on CommVault Systems in a report on Friday, May 1st. They set a “peer perform” rating on the stock. Finally, Weiss Ratings raised CommVault Systems from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, CommVault Systems has an average rating of “Moderate Buy” and an average price target of $152.47.

CommVault Systems Price Performance

Shares of NASDAQ:CVLT opened at $116.42 on Friday. The company’s fifty day moving average price is $132.68 and its 200-day moving average price is $106.93. CommVault Systems, Inc. has a one year low of $71.75 and a one year high of $198.18. The company has a debt-to-equity ratio of 16.94, a current ratio of 2.04 and a quick ratio of 1.95. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 74.15 and a beta of 0.79.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.26. The firm had revenue of $314.13 million during the quarter, compared to analysts’ expectations of $310.43 million. CommVault Systems had a return on equity of 88.75% and a net margin of 5.62%.The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 EPS. On average, equities research analysts anticipate that CommVault Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

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.