Renaissance Technologies LLC Trims Stock Position in CommVault Systems, Inc. $CVLT

Renaissance Technologies LLC lessened its stake in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 2.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,097,663 shares of the software maker’s stock after selling 27,335 shares during the period. Renaissance Technologies LLC’s holdings in CommVault Systems were worth $85,497,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. State of Wyoming bought a new position in CommVault Systems in the second quarter worth approximately $35,000. Banque Cantonale Vaudoise bought a new stake in CommVault Systems during the 3rd quarter valued at $39,000. Advisory Services Network LLC bought a new stake in CommVault Systems during the 3rd quarter valued at $47,000. EverSource Wealth Advisors LLC lifted its holdings in shares of CommVault Systems by 188.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock worth $47,000 after buying an additional 177 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in shares of CommVault Systems in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling at CommVault Systems

In other CommVault Systems news, CEO Sanjay Mirchandani sold 19,396 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $105.49, for a total transaction of $2,046,084.04. Following the completion of the sale, the chief executive officer directly owned 315,377 shares of the company’s stock, valued at approximately $33,269,119.73. This represents a 5.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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, CAO Danielle Nicole Abrahamsen sold 1,065 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $105.84, for a total transaction of $112,719.60. Following the completion of the sale, the chief accounting officer owned 13,581 shares in the company, valued at $1,437,413.04. This represents a 7.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold 55,279 shares of company stock worth $5,786,557 over the last quarter. Insiders own 0.86% of the company’s stock.

CommVault Systems Stock Up 0.8%

Shares of NASDAQ CVLT opened at $142.31 on Friday. CommVault Systems, Inc. has a 12-month low of $71.75 and a 12-month high of $200.68. The stock’s fifty day simple moving average is $130.92 and its two-hundred day simple moving average is $107.03. The stock has a market capitalization of $5.89 billion, a PE ratio of 89.50 and a beta of 0.79. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 117.54.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, April 28th. The software maker reported $1.28 EPS for the quarter, topping the consensus estimate of $1.09 by $0.19. The firm had revenue of $311.69 million during the quarter, compared to analyst estimates of $306.71 million. CommVault Systems had a return on equity of 51.64% and a net margin of 5.97%.The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 EPS. As a group, analysts expect that CommVault Systems, Inc. will post 2.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Weiss Ratings upgraded CommVault Systems from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 16th. Mizuho upped their price objective on shares of CommVault Systems from $140.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. KeyCorp upped their price objective on shares of CommVault Systems from $125.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Jefferies Financial Group began coverage on shares of CommVault Systems in a report on Monday, April 27th. They set a “hold” rating and a $105.00 target price on the stock. Finally, Stephens raised their target price on shares of CommVault Systems from $135.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $145.47.

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.