K.J. Harrison & Partners Inc Makes New Investment in CommVault Systems, Inc. $CVLT

K.J. Harrison & Partners Inc bought a new position in CommVault Systems, Inc. (NASDAQ:CVLT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 25,000 shares of the software maker’s stock, valued at approximately $3,543,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in CommVault Systems in the second quarter valued at about $855,420,000. Vanguard Group Inc. increased its position in CommVault Systems by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 5,675,590 shares of the software maker’s stock worth $711,492,000 after purchasing an additional 240,093 shares during the period. First Trust Advisors LP increased its position in CommVault Systems by 25.5% during the 4th quarter. First Trust Advisors LP now owns 1,537,034 shares of the software maker’s stock worth $192,683,000 after purchasing an additional 312,178 shares during the period. Pictet Asset Management Holding SA increased its position in CommVault Systems by 36.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,239,225 shares of the software maker’s stock worth $96,447,000 after purchasing an additional 329,243 shares during the period. Finally, Westfield Capital Management Co. LP raised its stake in shares of CommVault Systems by 34.5% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,057,077 shares of the software maker’s stock worth $132,515,000 after buying an additional 270,902 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

CommVault Systems Price Performance

Shares of NASDAQ:CVLT opened at $144.32 on Tuesday. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 91.92 and a beta of 0.81. 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 business’s 50 day simple moving average is $137.74 and its 200-day simple moving average is $108.27. CommVault Systems, Inc. has a 12 month low of $71.75 and a 12 month high of $198.18.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings data 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 firm had revenue of $314.13 million during the quarter, compared to the consensus estimate of $310.43 million. CommVault Systems had a return on equity of 88.75% and a net margin of 5.62%.CommVault Systems’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the business posted $1.01 EPS. As a group, equities analysts forecast that CommVault Systems, Inc. will post 2.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CVLT has been the subject of several recent analyst reports. Truist Financial raised their price target on CommVault Systems from $155.00 to $182.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Scotiabank reiterated a “sector perform” rating and issued a $130.00 price objective on shares of CommVault Systems in a research report on Wednesday, July 29th. Wall Street Zen cut CommVault Systems from a “buy” rating to a “hold” rating in a research report on Saturday. UBS Group reissued a “neutral” rating on shares of CommVault Systems in a report on Monday, July 27th. Finally, Piper Sandler lowered shares of CommVault Systems from an “overweight” rating to a “neutral” rating and set a $133.00 target price on the stock. in a research report on Tuesday, July 28th. 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. Based on data from MarketBeat, CommVault Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.47.

Insiders Place Their Bets

In related news, Director Vivie Lee sold 595 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 $79,843.05. Following the sale, the director directly owned 15,140 shares of the company’s stock, valued at approximately $2,031,636.60. This represents a 3.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director A Shane Sanders sold 476 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $134.19, for a total transaction of $63,874.44. Following the transaction, the director owned 8,696 shares of the company’s stock, valued at $1,166,916.24. This trade represents a 5.19% 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. Over the last ninety days, insiders sold 18,849 shares of company stock worth $1,987,575. 0.86% of the stock is owned by company insiders.

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.