Fifth Third Bancorp Grows Stock Holdings in CommVault Systems, Inc. $CVLT

Fifth Third Bancorp raised its position in CommVault Systems, Inc. (NASDAQ:CVLT) by 4,865.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,102 shares of the software maker’s stock after acquiring an additional 20,677 shares during the period. Fifth Third Bancorp’s holdings in CommVault Systems were worth $1,644,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of CommVault Systems by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 5,675,590 shares of the software maker’s stock worth $711,492,000 after buying an additional 240,093 shares during the last quarter. First Trust Advisors LP increased its position in shares of CommVault Systems by 25.5% in the 4th quarter. First Trust Advisors LP now owns 1,537,034 shares of the software maker’s stock valued at $192,683,000 after acquiring an additional 312,178 shares during the period. Pictet Asset Management Holding SA lifted its position in CommVault Systems by 36.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,239,225 shares of the software maker’s stock worth $96,447,000 after acquiring an additional 329,243 shares during the period. Westfield Capital Management Co. LP grew its stake in CommVault Systems by 34.5% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,057,077 shares of the software maker’s stock valued at $132,515,000 after purchasing an additional 270,902 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in CommVault Systems by 60.8% during the 2nd quarter. AQR Capital Management LLC now owns 893,385 shares of the software maker’s stock valued at $155,744,000 after purchasing an additional 337,830 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

CommVault Systems Price Performance

Shares of NASDAQ CVLT opened at $141.14 on Friday. The company has a debt-to-equity ratio of 117.54, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 88.77 and a beta of 0.79. The firm’s 50 day simple moving average is $130.16 and its 200-day simple moving average is $106.78. CommVault Systems, Inc. has a 12 month low of $71.75 and a 12 month high of $200.68.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, April 28th. The software maker reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.19. CommVault Systems had a net margin of 5.97% and a return on equity of 51.64%. The company had revenue of $311.69 million during the quarter, compared to analysts’ expectations of $306.71 million. During the same quarter in the previous year, the company earned $1.03 earnings per share. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. Analysts expect that CommVault Systems, Inc. will post 2.88 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVLT. Robert W. Baird reduced their price objective on CommVault Systems from $185.00 to $160.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. DA Davidson reiterated a “buy” rating and issued a $125.00 price target on shares of CommVault Systems in a report on Monday, April 13th. Zacks Research cut shares of CommVault Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Royal Bank Of Canada increased their price objective on shares of CommVault Systems from $100.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings raised shares of CommVault Systems from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, CommVault Systems currently has a consensus rating of “Moderate Buy” and an average price target of $145.47.

Insider Transactions at CommVault Systems

In other news, CAO Danielle Nicole Abrahamsen sold 1,065 shares of CommVault Systems stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $105.84, for a total value of $112,719.60. Following the sale, the chief accounting officer directly owned 13,581 shares of the company’s stock, valued at $1,437,413.04. The trade was a 7.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gary Merrill sold 4,560 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $105.10, for a total value of $479,256.00. Following the transaction, the chief financial officer directly owned 72,507 shares in the company, valued at $7,620,485.70. This trade represents a 5.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 55,279 shares of company stock valued at $5,786,557 in the last three months. 0.86% of the stock is currently owned by company insiders.

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.