Algert Global LLC Has $10 Million Stock Holdings in CommVault Systems, Inc. $CVLT

Algert Global LLC grew its holdings in CommVault Systems, Inc. (NASDAQ:CVLT) by 16.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,944 shares of the software maker’s stock after acquiring an additional 7,581 shares during the period. Algert Global LLC owned 0.12% of CommVault Systems worth $9,995,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in CommVault Systems by 8.6% during 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 buying an additional 11,700 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of CommVault Systems in the second quarter worth about $327,000. Vise Technologies Inc. bought a new stake in shares of CommVault Systems during the 2nd quarter worth about $429,000. PNC Financial Services Group Inc. increased its holdings in shares of CommVault Systems by 80.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,074 shares of the software maker’s stock valued at $1,059,000 after acquiring an additional 2,713 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of CommVault Systems by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,337,403 shares of the software maker’s stock valued at $233,172,000 after acquiring an additional 26,207 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

CommVault Systems Trading Down 2.3%

Shares of CommVault Systems stock opened at $78.96 on Monday. CommVault Systems, Inc. has a 1 year low of $77.79 and a 1 year high of $200.68. The company’s fifty day simple moving average is $98.46 and its 200-day simple moving average is $133.03. The company has a market cap of $3.47 billion, a price-to-earnings ratio of 40.70 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 released its earnings results on Tuesday, January 27th. The software maker reported $1.17 EPS for the quarter, beating the consensus estimate of $0.98 by $0.19. The firm had revenue of $313.83 million during the quarter, compared to analysts’ expectations of $299.07 million. CommVault Systems had a net margin of 7.58% and a return on equity of 37.38%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.94 EPS. As a group, sell-side analysts expect that CommVault Systems, Inc. will post 1.65 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Piper Sandler reduced their target price on CommVault Systems from $186.00 to $155.00 and set an “overweight” rating for the company in a report on Monday, January 5th. Oppenheimer reduced their price objective on shares of CommVault Systems from $180.00 to $150.00 and set an “outperform” rating for the company in a research note on Wednesday, January 28th. Mizuho decreased their price objective on shares of CommVault Systems from $180.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, January 28th. Wells Fargo & Company lowered their target price on shares of CommVault Systems from $190.00 to $155.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 28th. Finally, Truist Financial reissued a “buy” rating and set a $155.00 target price (down from $175.00) on shares of CommVault Systems in a research report on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, CommVault Systems presently has an average rating of “Moderate Buy” and a consensus price target of $143.58.

Insider Transactions at CommVault Systems

In other CommVault Systems news, CEO Sanjay Mirchandani sold 6,480 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was 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 approximately $31,861,527.32. This trade represents a 1.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 directly owned 62,833 shares in the company, valued at $5,735,396.24. The trade was a 2.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 10,965 shares of company stock worth $991,812. 1.00% of the stock is owned by company insiders.

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.