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

Key Points

• Connor Clark & Lunn Investment Management acquired 68,360 CommVault Systems shares worth approximately $9.69 million, representing a 0.16% stake. Institutional investors collectively own 93.50% of the company.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $152.47; KeyCorp and DA Davidson set targets of $175.
• CommVault exceeded quarterly expectations, reporting $1.42 in EPS versus the $1.16 consensus and $314.13 million in revenue, up 11.4% year over year. Insiders have sold $4.24 million of stock over the past 90 days, primarily under tax-related trading plans.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 68,360 shares of the software maker's stock, valued at approximately $9,689,000. Connor Clark & Lunn Investment Management Ltd. owned 0.16% of CommVault Systems at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of CommVault Systems during the 2nd quarter valued at approximately $27,000. Silvant Capital Management LLC purchased a new stake in CommVault Systems during the 2nd quarter valued at $30,000. State of Wyoming bought a new stake in CommVault Systems in the second quarter worth $35,000. Essential Partners LLC lifted its position in CommVault Systems by 9,920.0% in the first quarter. Essential Partners LLC now owns 501 shares of the software maker's stock worth $39,000 after buying an additional 496 shares during the last quarter. Finally, Banque Cantonale Vaudoise purchased a new position in CommVault Systems during the third quarter worth $39,000. 93.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In other CommVault Systems news, CEO Sanjay Mirchandani sold 12,437 shares of the firm's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $143.98, for a total transaction of $1,790,679.26. Following the transaction, the chief executive officer directly owned 269,373 shares in the company, valued at $38,784,324.54. This trade represents a 4.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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, CAO Danielle Nicole Abrahamsen sold 486 shares of CommVault Systems stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $142.80, for a total value of $69,400.80. Following the sale, the chief accounting officer directly owned 12,160 shares of the company's stock, valued at approximately $1,736,448. This trade represents a 3.84% decrease in their ownership of the stock. 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 29,602 shares of company stock valued at $4,240,541 over the last 90 days. 0.86% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CVLT shares. Weiss Ratings upgraded shares of CommVault Systems from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, June 16th. KeyCorp raised their target price on shares of CommVault Systems from $125.00 to $175.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. Jefferies Financial Group reaffirmed a "hold" rating and set a $130.00 price target on shares of CommVault Systems in a research note on Wednesday, July 29th. DA Davidson set a $175.00 price target on shares of CommVault Systems in a report on Wednesday, July 29th. Finally, Royal Bank Of Canada increased their price objective on shares of CommVault Systems from $100.00 to $110.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $152.47.

CommVault Systems Price Performance

CommVault Systems stock opened at $134.31 on Thursday. 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 cap of $5.57 billion, a price-to-earnings ratio of 85.55 and a beta of 0.81. The firm has a 50-day moving average of $138.95 and a two-hundred day moving average of $110.71. CommVault Systems, Inc. has a 1 year low of $71.75 and a 1 year high of $198.18.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last issued 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. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The business had revenue of $314.13 million for the quarter, compared to analyst estimates of $310.43 million. During the same period last year, the company posted $1.01 earnings per share. The company's quarterly revenue was up 11.4% compared to the same quarter last year. On average, research analysts forecast that CommVault Systems, Inc. will post 2.84 earnings per share for the current year.

About CommVault Systems

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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