Allspring Global Investments Holdings LLC Reduces Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Allspring Global Investments Holdings LLC cut its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLTGet Rating) by 39.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 28,607 shares of the software maker’s stock after selling 18,324 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Commvault Systems were worth $1,516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Janney Montgomery Scott LLC grew its holdings in shares of Commvault Systems by 31.1% during the third quarter. Janney Montgomery Scott LLC now owns 4,691 shares of the software maker’s stock valued at $249,000 after buying an additional 1,113 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Commvault Systems by 27.1% during the third quarter. Raymond James & Associates now owns 32,448 shares of the software maker’s stock valued at $1,721,000 after buying an additional 6,922 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Commvault Systems during the third quarter valued at $631,000. Pacer Advisors Inc. lifted its position in Commvault Systems by 6,466.7% during the third quarter. Pacer Advisors Inc. now owns 1,970 shares of the software maker’s stock valued at $104,000 after purchasing an additional 1,940 shares during the period. Finally, Wedge Capital Management L L P NC lifted its position in Commvault Systems by 20.0% during the third quarter. Wedge Capital Management L L P NC now owns 3,884 shares of the software maker’s stock valued at $206,000 after purchasing an additional 646 shares during the period. 88.30% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO James J. Whalen sold 526 shares of the company’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $66.04, for a total transaction of $34,737.04. Following the completion of the transaction, the chief accounting officer now owns 17,524 shares in the company, valued at approximately $1,157,284.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.99% of the company’s stock.

Commvault Systems Stock Performance

Shares of Commvault Systems stock opened at $57.82 on Friday. The firm has a 50-day simple moving average of $63.13 and a two-hundred day simple moving average of $59.41. The company has a market cap of $2.57 billion, a P/E ratio of 103.25, a price-to-earnings-growth ratio of 6.88 and a beta of 0.57. Commvault Systems, Inc. has a fifty-two week low of $50.26 and a fifty-two week high of $70.00.

Commvault Systems (NASDAQ:CVLTGet Rating) last issued its quarterly earnings data on Tuesday, November 1st. The software maker reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.10. The business had revenue of $188.06 million during the quarter, compared to the consensus estimate of $186.53 million. Commvault Systems had a net margin of 3.28% and a return on equity of 14.36%. Equities research analysts forecast that Commvault Systems, Inc. will post 0.8 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CVLT. William Blair restated a “market perform” rating on shares of Commvault Systems in a research report on Wednesday, November 2nd. Royal Bank of Canada boosted their target price on shares of Commvault Systems from $63.00 to $66.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 2nd. Piper Sandler decreased their target price on shares of Commvault Systems from $70.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, January 11th. Finally, StockNews.com started coverage on shares of Commvault Systems in a research report on Wednesday, October 12th. They set a “strong-buy” rating for the company. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.25.

Commvault Systems Company Profile

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Commvault Systems, Inc provides data protection and information management software applications and related services in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; and Commvault Complete Data Protection, a data protection solution.

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Institutional Ownership by Quarter for Commvault Systems (NASDAQ:CVLT)

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