Westfield Capital Management Co. LP Boosts Holdings in CommVault Systems, Inc. $CVLT

Westfield Capital Management Co. LP raised its position in CommVault Systems, Inc. (NASDAQ:CVLT) by 135.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 786,175 shares of the software maker’s stock after purchasing an additional 452,422 shares during the period. Westfield Capital Management Co. LP’s holdings in CommVault Systems were worth $148,414,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Intech Investment Management LLC raised its holdings in CommVault Systems by 6.9% in the third quarter. Intech Investment Management LLC now owns 56,838 shares of the software maker’s stock valued at $10,730,000 after acquiring an additional 3,674 shares in the last quarter. Optiver Holding B.V. increased its position in shares of CommVault Systems by 62.6% in the 3rd quarter. Optiver Holding B.V. now owns 291 shares of the software maker’s stock worth $55,000 after purchasing an additional 112 shares during the last quarter. Alliance Wealth Advisors LLC UT raised its stake in shares of CommVault Systems by 6.6% in the 3rd quarter. Alliance Wealth Advisors LLC UT now owns 5,088 shares of the software maker’s stock valued at $961,000 after purchasing an additional 313 shares in the last quarter. Highbridge Capital Management LLC bought a new position in shares of CommVault Systems during the third quarter worth about $5,418,000. Finally, Vanguard Group Inc. grew its stake in CommVault Systems by 2.1% in the third quarter. Vanguard Group Inc. now owns 5,435,497 shares of the software maker’s stock worth $1,026,113,000 after purchasing an additional 112,008 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

CommVault Systems Stock Performance

CVLT opened at $86.56 on Thursday. CommVault Systems, Inc. has a twelve month low of $79.51 and a twelve month high of $200.68. The stock has a market cap of $3.81 billion, a PE ratio of 44.62 and a beta of 0.59. The business’s 50 day moving average is $108.50 and its 200-day moving average is $141.52. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 4.06.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, January 27th. The software maker reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.19. CommVault Systems had a return on equity of 37.38% and a net margin of 7.58%.The company had revenue of $313.83 million during the quarter, compared to analyst estimates of $299.07 million. During the same quarter in the previous year, the firm posted $0.94 EPS. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. On average, analysts predict that CommVault Systems, Inc. will post 1.65 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Gary Merrill sold 2,593 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $90.28, for a total value of $234,096.04. Following the completion of the sale, the insider owned 64,725 shares in the company, valued at $5,843,373. This represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sanjay Mirchandani sold 6,480 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $90.28, for a total value of $585,014.40. Following the transaction, the chief executive officer directly owned 352,919 shares of the company’s stock, 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 have sold 10,965 shares of company stock worth $991,812 in the last quarter. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CVLT shares. Oppenheimer decreased their target price on CommVault Systems from $180.00 to $150.00 and set an “outperform” rating for the company in a research report on Wednesday, January 28th. Cantor Fitzgerald lowered their target price on shares of CommVault Systems from $144.00 to $100.00 and set a “neutral” 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 report on Friday, January 30th. Royal Bank Of Canada lowered their price objective on shares of CommVault Systems from $167.00 to $100.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 28th. Finally, Wells Fargo & Company cut their target price on shares of CommVault Systems from $190.00 to $155.00 and set an “overweight” rating on the stock in a 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 assigned a Hold rating to the company’s stock. According to MarketBeat.com, CommVault Systems presently has an average rating of “Moderate Buy” and an average target price of $143.58.

CommVault Systems 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.