Abacus FCF Advisors LLC Buys 6,228 Shares of CommVault Systems, Inc. $CVLT

Abacus FCF Advisors LLC boosted its stake in CommVault Systems, Inc. (NASDAQ:CVLT) by 23.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,700 shares of the software maker’s stock after purchasing an additional 6,228 shares during the period. Abacus FCF Advisors LLC owned about 0.07% of CommVault Systems worth $6,173,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CVLT. Raymond James Financial Inc. lifted its stake in shares of CommVault Systems by 178.6% in the 1st quarter. Raymond James Financial Inc. now owns 51,966 shares of the software maker’s stock valued at $8,199,000 after acquiring an additional 33,315 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of CommVault Systems by 126.3% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 516 shares of the software maker’s stock valued at $81,000 after purchasing an additional 288 shares during the last quarter. Ieq Capital LLC boosted its position in CommVault Systems by 29.0% during the first quarter. Ieq Capital LLC now owns 3,266 shares of the software maker’s stock valued at $515,000 after acquiring an additional 734 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of CommVault Systems by 11.1% during the 1st quarter. AQR Capital Management LLC now owns 555,555 shares of the software maker’s stock valued at $86,850,000 after purchasing an additional 55,450 shares in the last quarter. Finally, Eventide Asset Management LLC acquired a new stake in shares of CommVault Systems during the 1st quarter worth approximately $496,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sanjay Mirchandani sold 13,109 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $121.15, for a total value of $1,588,155.35. Following the transaction, the chief executive officer owned 359,260 shares in the company, valued at $43,524,349. The trade was a 3.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gary Merrill sold 1,845 shares of the stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $122.40, for a total value of $225,828.00. Following the sale, the insider directly owned 67,318 shares of the company’s stock, valued at $8,239,723.20. The trade was a 2.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 33,111 shares of company stock valued at $4,058,851. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on CVLT shares. Zacks Research downgraded shares of CommVault Systems from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, October 31st. Baird R W raised CommVault Systems to a “strong-buy” rating in a research report on Monday, October 27th. Mizuho initiated coverage on CommVault Systems in a research note on Monday, December 8th. They set an “outperform” rating and a $190.00 price target on the stock. Wall Street Zen lowered CommVault Systems from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, KeyCorp reduced their price objective on CommVault Systems from $225.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $194.64.

CommVault Systems Trading Down 0.7%

Shares of CommVault Systems stock opened at $127.56 on Tuesday. The company has a market capitalization of $5.62 billion, a P/E ratio of 71.66 and a beta of 0.60. The stock has a fifty day simple moving average of $130.81 and a 200 day simple moving average of $162.20. CommVault Systems, Inc. has a 12-month low of $114.46 and a 12-month high of $200.68. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 4.18.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, October 28th. The software maker reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.04). The company had revenue of $276.19 million for the quarter, compared to the consensus estimate of $273.31 million. CommVault Systems had a net margin of 7.32% and a return on equity of 31.53%. CommVault Systems’s revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the business posted $0.83 earnings per share. On average, sell-side analysts anticipate that CommVault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

CommVault Systems Company 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.