NewEdge Wealth LLC Acquires New Shares in CommVault Systems, Inc. $CVLT

NewEdge Wealth LLC bought a new stake in CommVault Systems, Inc. (NASDAQ:CVLT) during the second quarter, HoldingsChannel.com reports. The firm bought 3,844 shares of the software maker’s stock, valued at approximately $545,000.

Several other institutional investors have also recently bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of CommVault Systems by 8.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,410 shares of the software maker’s stock worth $23,255,000 after acquiring an additional 11,700 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in CommVault Systems during the 2nd quarter worth approximately $327,000. Cetera Investment Advisers increased its position in CommVault Systems by 13.4% during the 2nd quarter. Cetera Investment Advisers now owns 2,486 shares of the software maker’s stock worth $433,000 after purchasing an additional 294 shares in the last quarter. EverSource Wealth Advisors LLC lifted 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 purchasing an additional 177 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its stake in CommVault Systems by 43.8% in the 2nd quarter. Guggenheim Capital LLC now owns 4,245 shares of the software maker’s stock valued at $740,000 after purchasing an additional 1,293 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity at CommVault Systems

In related news, Director Vivie Lee sold 595 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 transaction of $79,843.05. Following the completion of the transaction, the director directly owned 15,140 shares of the company’s stock, valued at $2,031,636.60. This trade represents a 3.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director A Shane Sanders sold 476 shares of CommVault Systems stock in a transaction dated 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 in the company, valued at $1,166,916.24. The trade was a 5.19% 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. Insiders have sold 34,433 shares of company stock valued at $4,756,008 in the last quarter. Insiders own 0.86% of the company’s stock.

CommVault Systems Stock Up 1.7%

NASDAQ:CVLT opened at $133.81 on Friday. 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 2.04. The company has a market cap of $5.55 billion, a PE ratio of 85.23 and a beta of 0.81. The firm’s 50 day simple moving average is $138.61 and its 200 day simple moving average is $109.49.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.26. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The firm had revenue of $314.13 million during the quarter, compared to analysts’ expectations of $310.43 million. During the same period in the prior year, the company posted $1.01 EPS. The company’s revenue was up 11.4% on a year-over-year basis. On average, research analysts anticipate that CommVault Systems, Inc. will post 2.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CVLT shares. Guggenheim restated a “buy” rating on shares of CommVault Systems in a research report on Tuesday, July 28th. Weiss Ratings upgraded CommVault Systems from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 16th. Jefferies Financial Group reissued a “hold” rating and set a $130.00 price objective on shares of CommVault Systems in a report on Wednesday, July 29th. Truist Financial boosted their price objective on CommVault Systems from $155.00 to $182.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Finally, Wall Street Zen upgraded 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, nine have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $152.47.

About CommVault Systems

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.