40,511 CommVault Systems, Inc. $CVLT Shares Sold by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH trimmed its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 20.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 161,308 shares of the software maker’s stock after selling 40,511 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in CommVault Systems were worth $24,183,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new position in CommVault Systems in the second quarter worth $855,420,000. The Manufacturers Life Insurance Company bought a new position in CommVault Systems in the 2nd quarter valued at $65,765,000. American Capital Management Inc. bought a new position in CommVault Systems in the 2nd quarter valued at $62,493,000. Bank of America Corp DE bought a new position in CommVault Systems in the 2nd quarter valued at $51,709,000. Finally, Pictet Asset Management Holding SA increased its position in shares of 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 valued at $96,447,000 after purchasing an additional 329,243 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insider Transactions at CommVault Systems

In other CommVault Systems news, CFO Gary Merrill sold 1,293 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total value of $184,640.40. Following the sale, the chief financial officer directly owned 69,628 shares in the company, valued at $9,942,878.40. The trade was a 1.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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, Director A. Shane Sanders sold 476 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $134.19, for a total value of $63,874.44. Following the transaction, the director directly owned 8,696 shares in the company, valued at $1,166,916.24. This represents a 5.19% 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. Over the last 90 days, insiders sold 29,348 shares of company stock valued at $4,202,441. 0.86% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CVLT. Weiss Ratings reiterated a “hold (c)” rating on shares of CommVault Systems in a research note on Friday, September 11th. FBN Securities started coverage on shares of CommVault Systems in a report on Thursday, September 10th. They issued an “outperform” rating and a $155.00 price target on the stock. Piper Sandler downgraded shares of CommVault Systems from an “overweight” rating to a “neutral” rating and set a $133.00 price target on the stock. in a report on Tuesday, July 28th. Jefferies Financial Group restated a “hold” rating and set a $130.00 price target on shares of CommVault Systems in a research report on Wednesday, July 29th. Finally, Wall Street Zen lowered shares of CommVault Systems from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.25.

CommVault Systems Trading Up 3.0%

NASDAQ:CVLT opened at $158.91 on Friday. CommVault Systems, Inc. has a 12 month low of $71.75 and a 12 month high of $177.81. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 16.94. The firm’s 50 day moving average is $142.97 and its 200 day moving average is $125.93. The stock has a market capitalization of $6.59 billion, a PE ratio of 101.22 and a beta of 0.79.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.42 EPS for the quarter, beating the consensus estimate of $1.16 by $0.26. CommVault Systems had a return on equity of 88.75% and a net margin of 5.62%. The business had revenue of $314.13 million for the quarter, compared to the consensus estimate of $310.43 million. During the same quarter in the prior year, the business earned $1.01 earnings per share. CommVault Systems’s revenue for the quarter was up 11.4% on a year-over-year basis. Sell-side analysts expect that CommVault Systems, Inc. will post 2.84 earnings per share for the current year.

CommVault Systems Profile

Commvault Systems, Inc develops data protection, cyber resilience and information management software and services. Its platform helps organizations back up, recover, manage and secure data across on-premises data centers, public and private clouds, software-as-a-service applications and endpoint environments.

The company’s offerings include backup and recovery, disaster recovery, cyber-recovery capabilities, ransomware protection, data governance and workload management. Commvault also provides cloud-based services through its Commvault Cloud platform, designed to help customers detect threats, protect critical workloads and restore operations following data loss or cyberattacks.

Commvault serves businesses, government organizations and other institutions worldwide through direct sales, partners and service providers.