L2 Asset Management LLC Invests $1.59 Million in CommVault Systems, Inc. $CVLT

L2 Asset Management LLC acquired a new position in CommVault Systems, Inc. (NASDAQ:CVLT) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 11,214 shares of the software maker’s stock, valued at approximately $1,589,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Intech Investment Management LLC grew its position in shares of CommVault Systems by 52.4% in the fourth quarter. Intech Investment Management LLC now owns 86,634 shares of the software maker’s stock valued at $10,860,000 after purchasing an additional 29,796 shares during the last quarter. Epoch Investment Partners Inc. purchased a new position in shares of CommVault Systems during the 4th quarter worth approximately $27,278,000. Madison Asset Management LLC raised its position in shares of CommVault Systems by 39.7% during the 1st quarter. Madison Asset Management LLC now owns 33,459 shares of the software maker’s stock worth $2,606,000 after purchasing an additional 9,512 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in CommVault Systems by 410.8% in the 4th quarter. BNP Paribas Financial Markets now owns 320,468 shares of the software maker’s stock valued at $40,174,000 after buying an additional 257,729 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its holdings in CommVault Systems by 64.3% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 273,206 shares of the software maker’s stock valued at $21,280,000 after buying an additional 106,970 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other CommVault Systems news, Director A Shane Sanders sold 476 shares of CommVault Systems stock in a transaction on Monday, August 10th. The shares were sold at an average price of $134.19, for a total value of $63,874.44. Following the transaction, the director owned 8,696 shares in the company, valued at $1,166,916.24. This trade represents a 5.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mirchandani sold 12,437 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $143.98, for a total transaction of $1,790,679.26. Following the sale, the chief executive officer directly owned 269,373 shares of the company’s stock, valued at $38,784,324.54. This represents a 4.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 a total of 29,602 shares of company stock valued at $4,240,541 in the last ninety days. 0.86% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CVLT shares. Wall Street Zen raised CommVault Systems from a “hold” rating to a “buy” rating in a report on Sunday. Scotiabank reissued a “sector perform” rating and issued a $130.00 target price on shares of CommVault Systems in a research note on Wednesday, July 29th. Royal Bank Of Canada raised their price target on shares of CommVault Systems from $100.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 29th. Guggenheim reissued a “buy” rating on shares of CommVault Systems in a research report on Tuesday, July 28th. Finally, Jefferies Financial Group restated a “hold” rating and set a $130.00 target price on shares of CommVault Systems in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $152.47.

CommVault Systems Stock Down 2.0%

CVLT opened at $131.13 on Tuesday. The company has a debt-to-equity ratio of 16.94, a current ratio of 2.04 and a quick ratio of 2.04. The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of 83.52 and a beta of 0.81. The business has a 50-day moving average of $138.69 and a two-hundred day moving average of $109.99. CommVault Systems, Inc. has a 12 month low of $71.75 and a 12 month high of $198.18.

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

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.