Connor Clark & Lunn Investment Management Ltd. Invests $9.69 Million in CommVault Systems, Inc. $CVLT

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of CommVault Systems, Inc. (NASDAQ:CVLT) during the second quarter, HoldingsChannel reports. The fund acquired 68,360 shares of the software maker’s stock, valued at approximately $9,689,000.

Other institutional investors also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in CommVault Systems in the second quarter worth approximately $27,000. Silvant Capital Management LLC bought a new stake in CommVault Systems during the 2nd quarter valued at $30,000. State of Wyoming bought a new stake in CommVault Systems during the 2nd quarter valued at $35,000. Essential Partners LLC increased its holdings in shares of CommVault Systems by 9,920.0% in the 1st quarter. Essential Partners LLC now owns 501 shares of the software maker’s stock valued at $39,000 after acquiring an additional 496 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new position in shares of CommVault Systems in the 3rd quarter valued at $39,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

CommVault Systems Stock Performance

CVLT opened at $134.31 on Thursday. 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 company has a market cap of $5.57 billion, a P/E ratio of 85.55 and a beta of 0.81. The firm’s 50-day moving average price is $138.95 and its 200-day moving average price is $110.71.

CommVault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, July 28th. The software maker reported $1.42 EPS for the quarter, topping 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 revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the business earned $1.01 EPS. As a group, equities analysts anticipate that CommVault Systems, Inc. will post 2.84 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on CVLT. Zacks Research lowered CommVault Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Mizuho lifted their target price on CommVault Systems from $140.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Truist Financial boosted their target price on shares of CommVault Systems from $155.00 to $182.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Piper Sandler downgraded shares of CommVault Systems from an “overweight” rating to a “neutral” rating and set a $133.00 target price for the company. in a report on Tuesday, July 28th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $130.00 price target 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 given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $152.47.

Insiders Place Their Bets

In other news, Director Vivie Lee sold 595 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 transaction of $79,843.05. Following the completion of the sale, the director directly owned 15,140 shares in the company, valued at approximately $2,031,636.60. The trade was a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director A Shane Sanders sold 476 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $134.19, for a total transaction of $63,874.44. Following the sale, the director directly owned 8,696 shares in the company, valued at $1,166,916.24. This trade represents a 5.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 29,602 shares of company stock valued at $4,240,541. Corporate insiders own 0.86% of the company’s stock.

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.