Lazard Asset Management LLC lifted its stake in CommVault Systems, Inc. (NASDAQ:CVLT – Free Report) by 59.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 50,983 shares of the software maker’s stock after purchasing an additional 18,950 shares during the quarter. Lazard Asset Management LLC’s holdings in CommVault Systems were worth $3,971,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of CVLT. Entropy Technologies LP purchased a new stake in CommVault Systems during the 1st quarter valued at $509,000. Mizuho Markets Americas LLC purchased a new position in CommVault Systems during the first quarter worth $8,005,000. Gibbs Wealth Management boosted its stake in CommVault Systems by 90.9% during the first quarter. Gibbs Wealth Management now owns 10,242 shares of the software maker’s stock worth $798,000 after buying an additional 4,877 shares during the period. Sei Investments Co. increased its position in CommVault Systems by 102.0% during the first quarter. Sei Investments Co. now owns 144,960 shares of the software maker’s stock valued at $11,291,000 after acquiring an additional 73,206 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in CommVault Systems by 53.8% during the first quarter. Cetera Investment Advisers now owns 6,798 shares of the software maker’s stock valued at $529,000 after acquiring an additional 2,378 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on CVLT. Cantor Fitzgerald restated a “neutral” rating and issued a $132.00 target price on shares of CommVault Systems in a report on Monday. UBS Group reiterated a “neutral” rating on shares of CommVault Systems in a report on Monday. Zacks Research lowered shares of CommVault Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Wall Street Zen raised shares of CommVault Systems from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Royal Bank Of Canada boosted their target price on CommVault Systems from $100.00 to $110.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $152.47.
Insiders Place Their Bets
In other news, CAO Danielle Nicole Abrahamsen sold 1,065 shares of CommVault Systems stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $105.84, for a total transaction of $112,719.60. Following the completion of the sale, the chief accounting officer owned 13,581 shares of the company’s stock, valued at approximately $1,437,413.04. The trade was a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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, CFO Gary Merrill sold 4,560 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $105.10, for a total value of $479,256.00. Following the completion of the sale, the chief financial officer owned 72,507 shares of the company’s stock, valued at $7,620,485.70. The trade was a 5.92% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 55,279 shares of company stock worth $5,786,557 in the last three months. Corporate insiders own 0.86% of the company’s stock.
CommVault Systems Stock Up 1.2%
NASDAQ:CVLT opened at $117.80 on Friday. The company has a market cap of $4.88 billion, a price-to-earnings ratio of 75.03 and a beta of 0.79. CommVault Systems, Inc. has a twelve month low of $71.75 and a twelve month high of $198.18. The company has a current ratio of 2.04, a quick ratio of 1.95 and a debt-to-equity ratio of 16.94. The stock has a fifty day simple moving average of $132.89 and a 200-day simple moving average of $107.00.
CommVault Systems (NASDAQ:CVLT – Get Free Report) last posted its quarterly 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 firm had revenue of $314.13 million for 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%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 earnings per share. Analysts anticipate that CommVault Systems, Inc. will post 2.85 EPS for the current 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.
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