CommVault Systems, Inc. $CVLT Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 38.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 738,123 shares of the software maker’s stock after selling 462,325 shares during the quarter. Pictet Asset Management Holding SA’s holdings in CommVault Systems were worth $110,581,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Transamerica Financial Advisors LLC purchased a new position in CommVault Systems in the 2nd quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in CommVault Systems in the 2nd quarter worth approximately $27,000. Silvant Capital Management LLC purchased a new stake in CommVault Systems during the 2nd quarter valued at approximately $30,000. Root Financial Partners LLC purchased a new stake in CommVault Systems during the 3rd quarter valued at approximately $49,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in CommVault Systems during the 2nd quarter valued at approximately $53,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Activity at CommVault Systems

In related news, CEO Sanjay Mirchandani sold 12,437 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $143.98, for a total value of $1,790,679.26. Following the completion of the transaction, the chief executive officer owned 269,373 shares of the company’s stock, valued at approximately $38,784,324.54. This trade represents a 4.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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, CAO Danielle Abrahamsen sold 486 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $142.80, for a total transaction of $69,400.80. Following the completion of the transaction, the chief accounting officer directly owned 12,160 shares of the company’s stock, valued at approximately $1,736,448. The trade was a 3.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last ninety days, insiders sold 28,277 shares of company stock valued at $4,058,723. 0.86% of the stock is owned by corporate insiders.

CommVault Systems Price Performance

Shares of CommVault Systems stock opened at $158.36 on Monday. The stock has a 50 day moving average of $150.61 and a 200 day moving average of $120.09. CommVault Systems, Inc. has a 12 month low of $71.75 and a 12 month high of $174.25. The firm has a market cap of $6.48 billion, a PE ratio of 82.05 and a beta of 0.90. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 70.45.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, October 27th. The software maker reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.13. The business had revenue of $312.39 million during the quarter, compared to analysts’ expectations of $310.41 million. CommVault Systems had a return on equity of 169.40% and a net margin of 6.60%. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 EPS. On average, research analysts expect that CommVault Systems, Inc. will post 2.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CVLT has been the topic of several recent analyst reports. Cantor Fitzgerald lifted their price objective on shares of CommVault Systems from $132.00 to $171.00 and gave the company a “neutral” rating in a research report on Monday, October 26th. Oppenheimer upped their target price on shares of CommVault Systems from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Piper Sandler cut shares of 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. Guggenheim lifted their price target on shares of CommVault Systems from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 28th. Finally, Wells Fargo & Company lifted their price target on shares of CommVault Systems from $155.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $174.00.

CommVault Systems Profile

Commvault Systems, which operates as Commvault, develops data protection and cyber resilience software for businesses and other organizations. Its offerings help customers back up, recover, manage and secure data across on-premises systems, public clouds and hybrid environments.

The company’s Commvault Cloud platform and related services support data recovery, cyberattack readiness and data management. Its tools are designed to help organizations protect information across different workloads and storage environments.

Commvault serves customers internationally across a range of industries.