CommVault Systems, Inc. $CVLT Shares Purchased by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP lifted its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 135.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 786,175 shares of the software maker’s stock after buying an additional 452,422 shares during the period. Westfield Capital Management Co. LP owned about 1.78% of CommVault Systems worth $148,414,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in CommVault Systems by 2.1% in the third quarter. Vanguard Group Inc. now owns 5,435,497 shares of the software maker’s stock valued at $1,026,113,000 after acquiring an additional 112,008 shares during the period. Geode Capital Management LLC increased its holdings in CommVault Systems by 2.0% in the second quarter. Geode Capital Management LLC now owns 1,337,403 shares of the software maker’s stock valued at $233,172,000 after buying an additional 26,207 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of 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 acquiring an additional 337,830 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of CommVault Systems by 15.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 637,404 shares of the software maker’s stock worth $118,481,000 after acquiring an additional 83,906 shares in the last quarter. Finally, Congress Asset Management Co. increased its stake in CommVault Systems by 4.6% in the 3rd quarter. Congress Asset Management Co. now owns 596,998 shares of the software maker’s stock valued at $112,701,000 after purchasing an additional 26,110 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

CommVault Systems Stock Performance

NASDAQ CVLT opened at $86.56 on Thursday. The business’s 50-day moving average price is $108.50 and its 200 day moving average price is $141.52. 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, Inc. has a twelve month low of $79.51 and a twelve month high of $200.68. The company has a market capitalization of $3.81 billion, a PE ratio of 44.62 and a beta of 0.59.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, January 27th. The software maker reported $1.17 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $299.07 million. During the same quarter in the prior year, the company posted $0.94 EPS. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. On average, research analysts predict that CommVault Systems, Inc. will post 1.65 earnings per share for the current year.

Insider Buying and Selling at CommVault Systems

In related news, insider Gary Merrill sold 1,892 shares of CommVault Systems stock in a transaction 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 transaction, the insider owned 62,833 shares in the company, valued at approximately $5,735,396.24. This trade represents a 2.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Mirchandani sold 6,480 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $90.28, for a total value of $585,014.40. Following the sale, the chief executive officer owned 352,919 shares of the company’s stock, valued at $31,861,527.32. This represents a 1.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 10,965 shares of company stock valued at $991,812 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CVLT shares. Zacks Research raised CommVault Systems from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. Cantor Fitzgerald lowered their price objective on shares of CommVault Systems from $144.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 28th. Piper Sandler cut their target price on shares of CommVault Systems from $186.00 to $155.00 and set an “overweight” rating for the company in a research report on Monday, January 5th. Royal Bank Of Canada reduced their price objective on CommVault Systems from $167.00 to $100.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 28th. Finally, Wells Fargo & Company decreased their price objective on CommVault Systems from $190.00 to $155.00 and set an “overweight” rating on the stock in a research note 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.58.

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.