PNC Financial Services Group Inc. Sells 4,022 Shares of CommVault Systems, Inc. $CVLT

PNC Financial Services Group Inc. decreased its position in CommVault Systems, Inc. (NASDAQ:CVLT) by 51.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,792 shares of the software maker’s stock after selling 4,022 shares during the quarter. PNC Financial Services Group Inc.’s holdings in CommVault Systems were worth $295,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Assetmark Inc. grew its stake in CommVault Systems by 33.6% in the 4th quarter. Assetmark Inc. now owns 326 shares of the software maker’s stock valued at $41,000 after buying an additional 82 shares during the last quarter. Captrust Financial Advisors boosted its holdings in CommVault Systems by 7.2% during the fourth quarter. Captrust Financial Advisors now owns 2,153 shares of the software maker’s stock valued at $270,000 after acquiring an additional 145 shares during the period. MML Investors Services LLC increased its stake in shares of CommVault Systems by 6.7% in the fourth quarter. MML Investors Services LLC now owns 2,361 shares of the software maker’s stock worth $296,000 after purchasing an additional 149 shares during the period. Madison Asset Management LLC increased its stake in shares of CommVault Systems by 0.6% in the fourth quarter. Madison Asset Management LLC now owns 23,947 shares of the software maker’s stock worth $3,002,000 after purchasing an additional 153 shares during the period. Finally, Benjamin Edwards Inc. lifted its position in shares of CommVault Systems by 9.6% during the 4th quarter. Benjamin Edwards Inc. now owns 1,852 shares of the software maker’s stock worth $232,000 after purchasing an additional 162 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CVLT. Truist Financial raised their target price on CommVault Systems from $155.00 to $182.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Robert W. Baird dropped their target price on shares of CommVault Systems from $185.00 to $160.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. Royal Bank Of Canada increased their price target on shares of CommVault Systems from $100.00 to $110.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th. UBS Group restated a “neutral” rating on shares of CommVault Systems in a report on Monday, July 27th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $130.00 target price on shares of CommVault Systems in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, CommVault Systems has a consensus rating of “Moderate Buy” and a consensus target price of $152.47.

Insider Activity at CommVault Systems

In other CommVault Systems news, 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 value of $112,719.60. Following the completion of the sale, the chief accounting officer owned 13,581 shares in the company, valued at approximately $1,437,413.04. This trade represents a 7.27% decrease in their position. The transaction was disclosed in a legal 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, CFO Gary Merrill sold 4,560 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $105.10, for a total transaction of $479,256.00. Following the transaction, the chief financial officer owned 72,507 shares in the company, valued at $7,620,485.70. The trade was a 5.92% 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 sold 55,279 shares of company stock valued at $5,786,557 over the last ninety days. 0.86% of the stock is owned by insiders.

CommVault Systems Trading Up 0.1%

Shares of CVLT stock opened at $133.36 on Friday. The company has a market capitalization of $5.53 billion, a P/E ratio of 84.94 and a beta of 0.81. CommVault Systems, Inc. has a 12-month low of $71.75 and a 12-month high of $198.18. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 16.94. The firm has a 50-day moving average price of $134.70 and a 200 day moving average price of $107.05.

CommVault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.26. The company had revenue of $314.13 million during the quarter, compared to analysts’ expectations of $310.43 million. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. CommVault Systems’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 earnings per share. Research analysts forecast that CommVault Systems, Inc. will post 2.84 earnings per share for the current fiscal year.

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.