Ieq Capital LLC Makes New Investment in CommVault Systems, Inc. $CVLT

Key Points

• Ieq Capital LLC purchased 48,973 CommVault Systems shares during the second quarter, valued at approximately $6.94 million. Institutional investors and hedge funds collectively own 93.5% of CVLT.
• CommVault reported quarterly earnings of $1.42 per share, beating estimates of $1.16, while revenue rose 11.4% year over year to $314.13 million.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $152.47, although company insiders sold 34,433 shares worth about $4.76 million during the last quarter.

Ieq Capital LLC purchased a new position in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 48,973 shares of the software maker's stock, valued at approximately $6,941,000. Ieq Capital LLC owned 0.12% of CommVault Systems as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CVLT. BlackRock Inc. acquired a new position in CommVault Systems in the 2nd quarter valued at about $855,420,000. TD Asset Management Inc increased its holdings in shares of CommVault Systems by 14,047.5% during the 4th quarter. TD Asset Management Inc now owns 381,982 shares of the software maker's stock worth $47,885,000 after buying an additional 379,282 shares during the last quarter. AQR Capital Management LLC raised its position in shares of CommVault Systems by 60.8% during the 2nd quarter. AQR Capital Management LLC now owns 893,385 shares of the software maker's stock valued at $155,744,000 after buying an additional 337,830 shares during the period. Pictet Asset Management Holding SA lifted its holdings in CommVault Systems by 36.2% in the first quarter. Pictet Asset Management Holding SA now owns 1,239,225 shares of the software maker's stock valued at $96,447,000 after acquiring an additional 329,243 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in CommVault Systems in the second quarter valued at approximately $45,197,000. Institutional investors and hedge funds own 93.50% of the company's stock.

CommVault Systems Price Performance

Shares of NASDAQ CVLT opened at $133.81 on Monday. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 85.23 and a beta of 0.81. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 16.94. CommVault Systems, Inc. has a 52-week low of $71.75 and a 52-week high of $198.18. The business's 50 day moving average is $138.61 and its two-hundred day moving average is $109.64.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 EPS for the quarter, topping the consensus estimate of $1.16 by $0.26. CommVault Systems had a return on equity of 88.75% and a net margin of 5.62%.The business had revenue of $314.13 million during the quarter, compared to analyst estimates of $310.43 million. During the same period last year, the business posted $1.01 earnings per share. The company's quarterly revenue was up 11.4% on a year-over-year basis. Research analysts predict that CommVault Systems, Inc. will post 2.84 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Mizuho lifted their target price on CommVault Systems from $140.00 to $175.00 and gave the company an "outperform" rating in a research report on Wednesday, July 15th. Truist Financial increased their price target on CommVault Systems from $155.00 to $182.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. Stephens raised their price objective on CommVault Systems from $135.00 to $155.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 16th. Cantor Fitzgerald reissued a "neutral" rating and set a $132.00 price objective on shares of CommVault Systems in a research report on Monday, July 27th. Finally, Guggenheim restated a "buy" rating on shares of CommVault Systems in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $152.47.

Insider Activity

In related news, Director Vivie Lee sold 595 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $134.19, for a total transaction of $79,843.05. Following the completion of the transaction, the director directly owned 15,140 shares in the company, valued at $2,031,636.60. This trade represents a 3.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 firm's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $143.98, for a total value of $1,790,679.26. Following the transaction, the chief executive officer owned 269,373 shares of the company's stock, valued at $38,784,324.54. This trade represents a 4.41% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 34,433 shares of company stock worth $4,756,008 in the last quarter. 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.

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