Fisher Asset Management LLC Makes New $20.35 Million Investment in CommVault Systems, Inc. $CVLT

Fisher Asset Management LLC purchased a new position in shares of CommVault Systems, Inc. (NASDAQ:CVLT) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 162,364 shares of the software maker’s stock, valued at approximately $20,354,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Clearstead Advisors LLC increased its position in CommVault Systems by 129.8% during the fourth quarter. Clearstead Advisors LLC now owns 1,310 shares of the software maker’s stock worth $164,000 after buying an additional 740 shares during the period. Hantz Financial Services Inc. increased its position in CommVault Systems by 143.6% during the fourth quarter. Hantz Financial Services Inc. now owns 626 shares of the software maker’s stock worth $78,000 after buying an additional 369 shares during the period. Global Retirement Partners LLC increased its position in CommVault Systems by 61.2% during the fourth quarter. Global Retirement Partners LLC now owns 4,401 shares of the software maker’s stock worth $552,000 after buying an additional 1,671 shares during the period. Mach 1 Financial Group LLC acquired a new position in CommVault Systems during the fourth quarter worth approximately $280,000. Finally, Handelsbanken Fonder AB increased its holdings in shares of CommVault Systems by 43.1% in the fourth quarter. Handelsbanken Fonder AB now owns 14,930 shares of the software maker’s stock valued at $1,872,000 after purchasing an additional 4,500 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

CommVault Systems Stock Down 0.8%

CVLT opened at $107.24 on Thursday. The business’s fifty day moving average is $92.09 and its two-hundred day moving average is $103.52. The company has a debt-to-equity ratio of 117.54, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 67.45 and a beta of 0.77. CommVault Systems, Inc. has a one year low of $71.75 and a one year high of $200.68.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, April 28th. The software maker reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.19. CommVault Systems had a return on equity of 51.64% and a net margin of 5.97%.The business had revenue of $311.69 million for the quarter, compared to the consensus estimate of $306.71 million. During the same period in the prior year, the business earned $1.03 earnings per share. The business’s revenue was up 13.3% on a year-over-year basis. Analysts anticipate that CommVault Systems, Inc. will post 2.86 EPS for the current fiscal year.

Insider Activity

In other news, CAO Danielle Nicole Abrahamsen sold 277 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $106.70, for a total value of $29,555.90. Following the sale, the chief accounting officer directly owned 13,166 shares in the company, valued at $1,404,812.20. This represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 4,554 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $106.70, for a total value of $485,911.80. Following the completion of the sale, the chief financial officer owned 72,775 shares in the company, valued at $7,765,092.50. This represents a 5.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 have sold 75,415 shares of company stock worth $7,369,811 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Trending Headlines about CommVault Systems

Here are the key news stories impacting CommVault Systems this week:

• Positive Sentiment: Commvault is scheduled to present at the William Blair Growth Conference on June 2, which may help reinforce its growth story and keep investor attention on the business. Commvault to Present at the William Blair Growth Conference
• Neutral Sentiment: Chief Financial Officer Gary Merrill and Chief Accounting Officer Danielle Nicole Abrahamsen disclosed small share sales under pre-arranged 10b5-1 plans tied to tax withholding on equity awards, which is routine and not usually viewed as a major negative signal.
• Negative Sentiment: Several law firms publicly promoted class-action claims against Commvault, reinforcing the market’s focus on the pending securities-fraud case and the earlier sharp selloff tied to weaker-than-expected ARR growth. CVLT Shareholder Alert: Investors With Losses May Seek to Lead the Class Action in Commvault Systems, Inc. Securities Lawsuit

Analyst Ratings Changes

A number of research firms have recently issued reports on CVLT. DA Davidson reissued a “buy” rating and issued a $125.00 target price on shares of CommVault Systems in a report on Monday, April 13th. Jefferies Financial Group initiated coverage on CommVault Systems in a report on Monday, April 27th. They set a “hold” rating and a $105.00 price objective on the stock. Wall Street Zen lowered CommVault Systems from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Guggenheim dropped their price objective on CommVault Systems from $200.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, January 28th. Finally, Truist Financial reaffirmed a “buy” rating and set a $155.00 price objective (down from $175.00) on shares of CommVault Systems in a report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $135.00.

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.