Victory Capital Management Inc. Acquires 19,218 Shares of CommVault Systems, Inc. $CVLT

Victory Capital Management Inc. increased its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 19.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 118,284 shares of the software maker’s stock after purchasing an additional 19,218 shares during the period. Victory Capital Management Inc. owned approximately 0.27% of CommVault Systems worth $22,330,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CVLT. Federated Hermes Inc. grew its stake in shares of CommVault Systems by 9.7% in the third quarter. Federated Hermes Inc. now owns 322,053 shares of the software maker’s stock worth $60,797,000 after acquiring an additional 28,596 shares during the last quarter. JPMorgan Chase & Co. raised its stake in CommVault Systems by 131.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 382,778 shares of the software maker’s stock valued at $72,261,000 after purchasing an additional 217,557 shares during the last quarter. Emerald Advisers LLC raised its stake in CommVault Systems by 47.4% during the 3rd quarter. Emerald Advisers LLC now owns 156,894 shares of the software maker’s stock valued at $29,618,000 after purchasing an additional 50,470 shares during the last quarter. Strengthening Families & Communities LLC boosted its holdings in CommVault Systems by 2,215.4% in the 3rd quarter. Strengthening Families & Communities LLC now owns 18,037 shares of the software maker’s stock valued at $3,350,000 after purchasing an additional 17,258 shares during the period. Finally, Strs Ohio grew its position in CommVault Systems by 161.8% in the 3rd quarter. Strs Ohio now owns 28,800 shares of the software maker’s stock worth $5,437,000 after purchasing an additional 17,800 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

CommVault Systems Trading Down 1.4%

Shares of CVLT stock opened at $85.85 on Tuesday. The firm has a fifty day moving average of $102.07 and a 200-day moving average of $135.84. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of 44.25 and a beta of 0.59. CommVault Systems, Inc. has a 52-week low of $79.51 and a 52-week high of $200.68. 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 (NASDAQ:CVLT) last issued its earnings results on Tuesday, January 27th. The software maker reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.19. The business had revenue of $313.83 million for the quarter, compared to analyst estimates of $299.07 million. CommVault Systems had a net margin of 7.58% and a return on equity of 37.38%. The firm’s revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.94 EPS. On average, equities research analysts forecast that CommVault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Gary Merrill sold 1,892 shares of the 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 completion of the transaction, the insider directly owned 62,833 shares of the company’s stock, valued at approximately $5,735,396.24. This represents a 2.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction, the chief executive officer owned 352,919 shares of the company’s stock, valued at $31,861,527.32. This trade represents a 1.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 10,965 shares of company stock worth $991,812 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CVLT shares. Weiss Ratings restated a “hold (c)” rating on shares of CommVault Systems in a report on Wednesday, January 21st. Guggenheim decreased their target price on CommVault Systems from $200.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, January 28th. Wall Street Zen upgraded CommVault Systems from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Zacks Research raised CommVault Systems from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. Finally, Stephens reduced their price objective on CommVault Systems from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, January 28th. Two 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. According to data from MarketBeat.com, CommVault Systems presently has a consensus rating of “Moderate Buy” and an average target price of $143.58.

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.