Thrivent Financial for Lutherans Decreases Stock Position in CommVault Systems, Inc. $CVLT

Thrivent Financial for Lutherans cut its holdings in CommVault Systems, Inc. (NASDAQ:CVLT) by 25.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,693 shares of the software maker’s stock after selling 9,589 shares during the quarter. Thrivent Financial for Lutherans’ holdings in CommVault Systems were worth $5,417,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CVLT. State of Wyoming bought a new position in shares of CommVault Systems during the second quarter valued at $35,000. Cullen Frost Bankers Inc. lifted its stake in CommVault Systems by 43.8% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 243 shares of the software maker’s stock valued at $46,000 after acquiring an additional 74 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of CommVault Systems by 188.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $47,000 after acquiring an additional 177 shares during the last quarter. True Wealth Design LLC grew its stake in shares of CommVault Systems by 244.6% in the third quarter. True Wealth Design LLC now owns 286 shares of the software maker’s stock worth $54,000 after acquiring an additional 203 shares during the period. Finally, Employees Retirement System of Texas purchased a new position in shares of CommVault Systems during the second quarter valued at approximately $55,000. Institutional investors own 93.50% of the company’s stock.

CommVault Systems Trading Up 5.8%

Shares of NASDAQ:CVLT opened at $86.07 on Friday. The stock has a 50 day moving average of $117.27 and a 200 day moving average of $149.98. The company has a market cap of $3.78 billion, a PE ratio of 44.37 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. 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 issued its quarterly earnings results on Tuesday, January 27th. The software maker reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.19. The business had revenue of $313.83 million for the quarter, compared to the consensus estimate of $299.07 million. CommVault Systems had a net margin of 7.58% and a return on equity of 37.38%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 earnings per share. As a group, equities research analysts expect that CommVault Systems, Inc. will post 1.65 EPS for the current year.

Insider Buying and Selling

In other CommVault Systems news, insider Gary Merrill sold 2,674 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $123.58, for a total value of $330,452.92. Following the completion of the sale, the insider owned 69,163 shares in the company, valued at approximately $8,547,163.54. This represents a 3.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jennifer Leigh Dirico sold 830 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $123.58, for a total value of $102,571.40. Following the sale, the chief financial officer directly owned 44,313 shares in the company, valued at approximately $5,476,200.54. This represents a 1.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 33,111 shares of company stock valued at $4,058,851. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

CVLT has been the topic of several research reports. Cantor Fitzgerald dropped their target price on shares of CommVault Systems from $144.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday, January 28th. Mizuho dropped their price target on CommVault Systems from $180.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 28th. Truist Financial reiterated a “buy” rating and set a $155.00 price objective (down previously from $175.00) on shares of CommVault Systems in a research report on Wednesday, January 28th. Wells Fargo & Company dropped their target price on CommVault Systems from $190.00 to $155.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 28th. Finally, Robert W. Baird began coverage on shares of CommVault Systems in a research report on Monday, October 27th. They set an “outperform” rating and a $215.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.58.

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.