Charles Schwab Investment Management Inc. Lowers Stock Holdings in CommVault Systems, Inc. (NASDAQ:CVLT)

Charles Schwab Investment Management Inc. lowered its holdings in CommVault Systems, Inc. (NASDAQ:CVLT) by 3.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 558,197 shares of the software maker’s stock after selling 18,269 shares during the period. Charles Schwab Investment Management Inc. owned 1.27% of CommVault Systems worth $88,061,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Benjamin Edwards Inc. grew its position in shares of CommVault Systems by 3.3% in the fourth quarter. Benjamin Edwards Inc. now owns 1,803 shares of the software maker’s stock valued at $272,000 after purchasing an additional 58 shares during the period. Hancock Whitney Corp boosted its holdings in CommVault Systems by 1.0% in the fourth quarter. Hancock Whitney Corp now owns 5,781 shares of the software maker’s stock valued at $872,000 after acquiring an additional 60 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in CommVault Systems by 1.3% in the first quarter. NorthCrest Asset Manangement LLC now owns 5,753 shares of the software maker’s stock valued at $908,000 after acquiring an additional 72 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings in CommVault Systems by 101.3% in the first quarter. SBI Securities Co. Ltd. now owns 159 shares of the software maker’s stock valued at $25,000 after acquiring an additional 80 shares during the last quarter. Finally, Johnson Investment Counsel Inc. boosted its holdings in CommVault Systems by 6.7% in the first quarter. Johnson Investment Counsel Inc. now owns 1,451 shares of the software maker’s stock valued at $229,000 after acquiring an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Activity

In related news, insider Gary Merrill sold 1,748 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $174.91, for a total value of $305,742.68. Following the transaction, the insider owned 89,923 shares in the company, valued at approximately $15,728,431.93. The trade was a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sanjay Mirchandani sold 1,709 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $299,075.00. Following the completion of the transaction, the chief executive officer owned 469,648 shares in the company, valued at approximately $82,188,400. This trade represents a 0.36% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CVLT shares. Royal Bank Of Canada lifted their target price on CommVault Systems from $185.00 to $217.00 and gave the company a “sector perform” rating in a report on Wednesday, July 30th. Wall Street Zen cut CommVault Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday. Oppenheimer lifted their target price on CommVault Systems from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. DA Davidson lifted their target price on CommVault Systems from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. Finally, Piper Sandler boosted their price objective on CommVault Systems from $168.00 to $170.00 and gave the stock a “neutral” rating in a research note on Monday, July 14th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, CommVault Systems currently has an average rating of “Moderate Buy” and a consensus price target of $205.63.

CommVault Systems Price Performance

Shares of CVLT opened at $192.64 on Wednesday. CommVault Systems, Inc. has a 12 month low of $128.07 and a 12 month high of $200.68. The stock’s 50-day moving average is $177.87 and its two-hundred day moving average is $170.20. The stock has a market cap of $8.56 billion, a PE ratio of 107.02 and a beta of 0.70.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, July 29th. The software maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.97 by $0.04. CommVault Systems had a return on equity of 30.83% and a net margin of 7.70%. The business had revenue of $281.98 million for the quarter, compared to analysts’ expectations of $267.83 million. The business’s revenue for the quarter was up 26% on a year-over-year basis. On average, research analysts anticipate that CommVault Systems, Inc. will post 1.65 earnings per share for the current year.

CommVault Systems Profile

Commvault Systems, Inc provides data protection platform that helps customers to secure, defend, and recover their data in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; Commvault Complete Data Protection, a data protection solution; and Metallic Data Protection as-a-service, which delivers enterprise-grade data protection as a service on a cloud platform, with advanced built-in security controls.