SummitTX Capital L.P. Acquires Shares of 6,110 CommVault Systems, Inc. $CVLT

SummitTX Capital L.P. bought a new position in shares of CommVault Systems, Inc. (NASDAQ:CVLT) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 6,110 shares of the software maker’s stock, valued at approximately $476,000.

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

CommVault Systems Price Performance

Shares of NASDAQ CVLT opened at $117.80 on Friday. CommVault Systems, Inc. has a 1-year low of $71.75 and a 1-year high of $198.18. The company has a debt-to-equity ratio of 16.94, a current ratio of 2.04 and a quick ratio of 1.95. The business’s fifty day moving average price is $132.89 and its two-hundred day moving average price is $107.00. The firm has a market capitalization of $4.88 billion, a PE ratio of 75.03 and a beta of 0.79.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.26. The company had revenue of $314.13 million during the quarter, compared to the consensus estimate of $310.43 million. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 earnings per share. On average, research analysts expect that CommVault Systems, Inc. will post 2.85 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Piper Sandler cut shares of CommVault Systems from an “overweight” rating to a “neutral” rating and set a $133.00 target price on the stock. in a report on Tuesday. Oppenheimer lifted their price target on shares of CommVault Systems from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Jefferies Financial Group reaffirmed a “hold” rating and set a $130.00 price objective on shares of CommVault Systems in a research report on Wednesday. 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, UBS Group reissued a “neutral” rating on shares of CommVault Systems in a report on Monday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.47.

Insider Buying and Selling

In related news, CFO Gary Merrill sold 4,554 shares of CommVault Systems stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $106.70, for a total value of $485,911.80. Following the sale, the chief financial officer directly owned 72,775 shares in the company, valued at $7,765,092.50. This trade represents a 5.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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, CAO Danielle Nicole Abrahamsen sold 254 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $150.00, for a total transaction of $38,100.00. Following the transaction, the chief accounting officer directly owned 13,156 shares of the company’s stock, valued at $1,973,400. The trade was a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 55,279 shares of company stock valued at $5,786,557 in the last quarter. Company insiders own 0.86% of the company’s stock.

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.