L2 Asset Management LLC Takes Position in CommVault Systems, Inc. $CVLT

L2 Asset Management LLC bought a new position in shares of CommVault Systems, Inc. (NASDAQ:CVLT) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 11,214 shares of the software maker’s stock, valued at approximately $1,589,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. purchased a new position in CommVault Systems in the second quarter valued at approximately $855,420,000. TD Asset Management Inc grew its stake in CommVault Systems by 14,047.5% during the fourth quarter. TD Asset Management Inc now owns 381,982 shares of the software maker’s stock worth $47,885,000 after buying an additional 379,282 shares during the period. AQR Capital Management LLC increased its position in shares of CommVault Systems by 60.8% in the second quarter. AQR Capital Management LLC now owns 893,385 shares of the software maker’s stock worth $155,744,000 after acquiring an additional 337,830 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of CommVault Systems by 36.2% in the first quarter. Pictet Asset Management Holding SA now owns 1,239,225 shares of the software maker’s stock worth $96,447,000 after acquiring an additional 329,243 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of CommVault Systems in the second quarter worth $45,197,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Stephens lifted their target price on shares of CommVault Systems from $135.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, June 16th. Scotiabank reiterated a “sector perform” rating and issued a $130.00 price target on shares of CommVault Systems in a report on Wednesday, July 29th. Weiss Ratings raised CommVault Systems from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 16th. KeyCorp raised their price objective on CommVault Systems from $125.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada boosted their price objective on CommVault Systems from $100.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 29th. One research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $152.47.

CommVault Systems Trading Down 2.0%

CVLT opened at $131.13 on Tuesday. The firm’s 50 day moving average is $138.69 and its 200-day moving average is $109.99. CommVault Systems, Inc. has a 52-week low of $71.75 and a 52-week 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 market capitalization of $5.43 billion, a P/E ratio of 83.52 and a beta of 0.81.

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

Insider Transactions at CommVault Systems

In related news, CEO Sanjay Mirchandani sold 12,437 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $143.98, for a total value of $1,790,679.26. Following the transaction, the chief executive officer owned 269,373 shares in the company, valued at approximately $38,784,324.54. The trade was a 4.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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, Director A Shane Sanders sold 476 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $134.19, for a total value of $63,874.44. Following the completion of the transaction, the director directly owned 8,696 shares of the company’s stock, valued at $1,166,916.24. This represents a 5.19% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 29,602 shares of company stock worth $4,240,541 over the last three months. Insiders own 0.86% of the company’s stock.

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.