CommVault Systems, Inc. $CVLT Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its holdings in CommVault Systems, Inc. (NASDAQ:CVLT) by 131.7% in the third quarter, HoldingsChannel reports. The firm owned 382,778 shares of the software maker’s stock after buying an additional 217,557 shares during the quarter. JPMorgan Chase & Co.’s holdings in CommVault Systems were worth $72,261,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CVLT. State of New Jersey Common Pension Fund D boosted its position in CommVault Systems by 4.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 15,473 shares of the software maker’s stock valued at $2,921,000 after buying an additional 691 shares during the period. PNC Financial Services Group Inc. boosted its holdings in CommVault Systems by 40.5% in the third quarter. PNC Financial Services Group Inc. now owns 8,532 shares of the software maker’s stock valued at $1,611,000 after purchasing an additional 2,458 shares during the period. Cookson Peirce & Co. Inc. acquired a new position in CommVault Systems during the 3rd quarter worth $7,265,000. Abich Financial Wealth Management LLC acquired a new position in CommVault Systems during the 3rd quarter worth $61,000. Finally, Assetmark Inc. increased its holdings in CommVault Systems by 2,950.0% during the 3rd quarter. Assetmark Inc. now owns 244 shares of the software maker’s stock worth $46,000 after purchasing an additional 236 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Gary Merrill sold 1,892 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $91.28, for a total value of $172,701.76. Following the completion of the sale, the insider directly owned 62,833 shares of the company’s stock, valued at $5,735,396.24. This represents a 2.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mirchandani sold 6,480 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $90.28, for a total value of $585,014.40. Following the transaction, the chief executive officer owned 352,919 shares in the company, valued at $31,861,527.32. This represents a 1.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,965 shares of company stock valued at $991,812 over the last three months. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Mizuho decreased their price objective on CommVault Systems from $180.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, January 28th. Zacks Research upgraded shares of CommVault Systems from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Oppenheimer lowered their price target on shares of CommVault Systems from $180.00 to $150.00 and set an “outperform” rating for the company in a report on Wednesday, January 28th. DA Davidson reduced their price objective on shares of CommVault Systems from $185.00 to $135.00 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 research report on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.58.

CommVault Systems Trading Up 4.1%

Shares of CommVault Systems stock opened at $88.49 on Wednesday. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 4.06. The company has a fifty day simple moving average of $109.23 and a 200-day simple moving average of $141.91. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 45.61 and a beta of 0.59. CommVault Systems, Inc. has a 12-month low of $79.51 and a 12-month high of $200.68.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, January 27th. The software maker reported $1.17 earnings per share 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 firm had revenue of $313.83 million during the quarter, compared to analysts’ expectations of $299.07 million. During the same period in the previous year, the company earned $0.94 earnings per share. CommVault Systems’s quarterly revenue was up 19.5% compared to the same quarter last year. On average, equities analysts forecast that CommVault Systems, Inc. will post 1.65 EPS for the current fiscal year.

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.