K.J. Harrison & Partners Inc Invests $3.54 Million in CommVault Systems, Inc. $CVLT

Key Points

• K.J. Harrison & Partners initiated a $3.54 million position in CommVault Systems during the second quarter, purchasing 25,000 shares. Institutional investors and hedge funds collectively own 93.5% of the company.
• CommVault exceeded quarterly expectations, reporting adjusted earnings of $1.42 per share versus the $1.16 consensus estimate and revenue of $314.13 million, up 11.4% year over year.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $152.47, although insiders have sold 18,849 shares worth nearly $2 million over the past 90 days.

K.J. Harrison & Partners Inc bought a new position in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 25,000 shares of the software maker's stock, valued at approximately $3,543,000. K.J. Harrison & Partners Inc owned about 0.06% of CommVault Systems as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVLT. Versant Capital Management Inc raised its holdings in CommVault Systems by 15.8% during the second quarter. Versant Capital Management Inc now owns 595 shares of the software maker's stock worth $84,000 after purchasing an additional 81 shares in the last quarter. Assetmark Inc. lifted its position in shares of CommVault Systems by 33.6% during the 4th quarter. Assetmark Inc. now owns 326 shares of the software maker's stock worth $41,000 after buying an additional 82 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of CommVault Systems by 7.2% in the 4th quarter. Captrust Financial Advisors now owns 2,153 shares of the software maker's stock valued at $270,000 after buying an additional 145 shares in the last quarter. MML Investors Services LLC boosted its holdings in shares of CommVault Systems by 6.7% in the 4th quarter. MML Investors Services LLC now owns 2,361 shares of the software maker's stock valued at $296,000 after buying an additional 149 shares in the last quarter. Finally, Madison Asset Management LLC grew its position in shares of CommVault Systems by 0.6% in the 4th quarter. Madison Asset Management LLC now owns 23,947 shares of the software maker's stock valued at $3,002,000 after buying an additional 153 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director A Shane Sanders sold 476 shares of the business's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $134.19, for a total value of $63,874.44. Following the transaction, the director owned 8,696 shares in the company, valued at $1,166,916.24. The trade was a 5.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gary Merrill sold 4,554 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $106.70, for a total value of $485,911.80. Following the sale, the chief financial officer directly owned 72,775 shares of the company's stock, valued at approximately $7,765,092.50. This represents a 5.89% 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. Over the last 90 days, insiders have sold 18,849 shares of company stock valued at $1,987,575. Insiders own 0.86% of the company's stock.

CommVault Systems Stock Down 1.9%

Shares of NASDAQ:CVLT opened at $144.32 on Tuesday. The stock has a market cap of $5.98 billion, a P/E ratio of 91.92 and a beta of 0.81. The firm has a fifty day moving average price of $137.74 and a 200 day moving average price of $108.27. The company has a debt-to-equity ratio of 16.94, a current ratio of 2.04 and a quick ratio of 2.04. 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 posted its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.42 EPS for the quarter, beating 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 company had revenue of $314.13 million for the quarter, compared to analyst estimates of $310.43 million. During the same period in the previous year, the business posted $1.01 earnings per share. CommVault Systems's quarterly revenue was up 11.4% on a year-over-year basis. Sell-side analysts predict that CommVault Systems, Inc. will post 2.84 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Oppenheimer lifted their price target on shares of CommVault Systems from $150.00 to $175.00 and gave the stock an "outperform" rating in a research note on Friday, July 17th. Jefferies Financial Group reaffirmed a "hold" rating and set a $130.00 price objective on shares of CommVault Systems in a report on Wednesday, July 29th. KeyCorp lifted their target price on CommVault Systems from $125.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. UBS Group reissued a "neutral" rating on shares of CommVault Systems in a report on Monday, July 27th. Finally, Wolfe Research began coverage on CommVault Systems in a research report on Friday, May 1st. They issued a "peer perform" rating for the company. One 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $152.47.

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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