Allspring Global Investments Holdings LLC Trims Holdings in CommVault Systems, Inc. $CVLT

Allspring Global Investments Holdings LLC lowered its stake in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 84.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 100,731 shares of the software maker’s stock after selling 536,673 shares during the period. Allspring Global Investments Holdings LLC owned 0.23% of CommVault Systems worth $12,509,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CVLT. Dakota Wealth Management acquired a new stake in shares of CommVault Systems during the 4th quarter worth approximately $563,000. Fort Washington Investment Advisors Inc. OH grew its position in CommVault Systems by 27.4% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 166,236 shares of the software maker’s stock worth $20,839,000 after acquiring an additional 35,719 shares during the period. Byrne Asset Management LLC grew its position in CommVault Systems by 11,125.0% in the fourth quarter. Byrne Asset Management LLC now owns 898 shares of the software maker’s stock worth $113,000 after acquiring an additional 890 shares during the period. Moody National Bank Trust Division acquired a new stake in CommVault Systems during the fourth quarter worth $229,000. Finally, Congress Asset Management Co. increased its stake in CommVault Systems by 7.8% during the fourth quarter. Congress Asset Management Co. now owns 643,509 shares of the software maker’s stock worth $80,670,000 after acquiring an additional 46,511 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other CommVault Systems news, insider Gary Merrill sold 1,892 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $91.28, for a total transaction of $172,701.76. Following the sale, the insider owned 62,833 shares in the company, valued at $5,735,396.24. This represents a 2.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjay Mirchandani sold 10,052 shares of CommVault Systems stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $80.09, for a total value of $805,064.68. Following the completion of the transaction, the chief executive officer owned 332,529 shares of the company’s stock, valued at $26,632,247.61. The trade was a 2.93% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 31,355 shares of company stock worth $2,613,165. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

CVLT has been the topic of several research analyst reports. Oppenheimer reduced their price objective on shares of CommVault Systems from $180.00 to $150.00 and set an “outperform” rating on the stock in a report on Wednesday, January 28th. Wells Fargo & Company dropped their price target on shares of CommVault Systems from $190.00 to $155.00 and set an “overweight” rating for the company in a research report on Wednesday, January 28th. Zacks Research raised shares of CommVault Systems from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Loop Capital initiated coverage on shares of CommVault Systems in a report on Tuesday, March 24th. They issued a “buy” rating and a $125.00 price objective on the stock. Finally, Mizuho lowered their price objective on shares of CommVault Systems from $180.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, January 28th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $141.38.

CommVault Systems Price Performance

Shares of CVLT opened at $79.93 on Friday. The company’s 50-day simple moving average is $85.04 and its 200-day simple moving average is $122.53. The company has a debt-to-equity ratio of 4.06, a quick ratio of 2.34 and a current ratio of 2.34. CommVault Systems, Inc. has a 1 year low of $74.94 and a 1 year high of $200.68. The stock has a market capitalization of $3.51 billion, a PE ratio of 41.20 and a beta of 0.63.

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

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.