Citigroup Inc. Sells 19,282 Shares of CommVault Systems, Inc. $CVLT

Citigroup Inc. trimmed its position in CommVault Systems, Inc. (NASDAQ:CVLT) by 60.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,594 shares of the software maker’s stock after selling 19,282 shares during the period. Citigroup Inc.’s holdings in CommVault Systems were worth $2,377,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State of Wyoming bought a new stake in CommVault Systems in the second quarter valued at approximately $35,000. Cullen Frost Bankers Inc. boosted its position in shares of CommVault Systems by 43.8% during the third quarter. Cullen Frost Bankers Inc. now owns 243 shares of the software maker’s stock worth $46,000 after purchasing an additional 74 shares in the last quarter. Assetmark Inc. boosted its position in shares of CommVault Systems by 2,950.0% during the third quarter. Assetmark Inc. now owns 244 shares of the software maker’s stock worth $46,000 after purchasing an additional 236 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of 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 during the period. Finally, Hantz Financial Services Inc. increased its position in shares of CommVault Systems by 84.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 257 shares of the software maker’s stock valued at $49,000 after buying an additional 118 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In related news, insider Gary Merrill sold 1,892 shares of CommVault Systems stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $91.28, for a total value of $172,701.76. Following the sale, the insider owned 62,833 shares of the company’s stock, valued at approximately $5,735,396.24. This trade represents a 2.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sanjay Mirchandani sold 6,480 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $90.28, for a total value of $585,014.40. Following the completion of the sale, the chief executive officer owned 352,919 shares in the company, valued at $31,861,527.32. The trade was a 1.80% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 10,965 shares of company stock worth $991,812. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on CVLT shares. Guggenheim reduced their target price on CommVault Systems from $200.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, January 28th. Truist Financial restated a “buy” rating and issued a $155.00 price target (down from $175.00) on shares of CommVault Systems in a report on Wednesday, January 28th. Wall Street Zen raised CommVault Systems from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. DA Davidson decreased their price objective on CommVault Systems from $185.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, January 28th. Finally, Oppenheimer lowered their target price on CommVault Systems from $180.00 to $150.00 and set an “outperform” rating for the company in a research note on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $143.58.

CommVault Systems Price Performance

CVLT stock opened at $87.04 on Friday. The stock has a 50-day moving average price of $102.91 and a two-hundred day moving average price of $136.76. CommVault Systems, Inc. has a 1 year low of $79.51 and a 1 year high of $200.68. The stock has a market cap of $3.83 billion, a PE ratio of 44.87 and a beta of 0.59. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 4.06.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, January 27th. The software maker reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.19. The company had revenue of $313.83 million for the quarter, compared to analyst estimates of $299.07 million. CommVault Systems had a return on equity of 37.38% and a net margin of 7.58%.The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 earnings per share. Equities analysts forecast that CommVault Systems, Inc. will post 1.65 EPS 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.