Legal & General Group Plc Acquires New Holdings in CommVault Systems, Inc. $CVLT

Key Points

• Legal & General Group Plc acquired 227,199 shares of CommVault Systems in the second quarter, worth approximately $32.2 million and representing about 0.55% of the company. Institutional investors collectively own 93.5% of CVLT.
• Analysts maintain a generally positive outlook, with CommVault rated “Moderate Buy” and a consensus price target of $152.47; KeyCorp and Truist recently raised their targets to $175 and $182, respectively.
• CommVault reported quarterly EPS of $1.42, beating estimates of $1.16, while revenue rose 11.4% year over year to $314.13 million. The stock opened at $136.40, down 2.8%, with a market capitalization of approximately $5.65 billion.

Legal & General Group Plc bought a new stake in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 227,199 shares of the software maker's stock, valued at approximately $32,201,000. Legal & General Group Plc owned approximately 0.55% of CommVault Systems at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of CommVault Systems in the second quarter valued at approximately $27,000. Silvant Capital Management LLC acquired a new position in shares of CommVault Systems during the 2nd quarter worth approximately $30,000. State of Wyoming acquired a new position in shares of CommVault Systems during the 2nd quarter worth approximately $35,000. Banque Cantonale Vaudoise purchased a new stake in CommVault Systems in the 3rd quarter valued at approximately $39,000. Finally, Essential Partners LLC lifted its stake in CommVault Systems by 9,920.0% in the 1st quarter. Essential Partners LLC now owns 501 shares of the software maker's stock valued at $39,000 after buying an additional 496 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Transactions at CommVault Systems

In other CommVault Systems news, Director A Shane Sanders sold 476 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 value of $63,874.44. Following the sale, the director directly owned 8,696 shares of the company's stock, valued at approximately $1,166,916.24. This trade represents a 5.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Danielle Nicole Abrahamsen sold 486 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total transaction of $69,400.80. Following the transaction, the chief accounting officer owned 12,160 shares in the company, valued at approximately $1,736,448. The trade was 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. In the last three months, insiders sold 29,602 shares of company stock valued at $4,240,541. Corporate insiders own 0.86% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CVLT shares. Guggenheim reissued a "buy" rating on shares of CommVault Systems in a research report on Tuesday, July 28th. KeyCorp upped their price objective on CommVault Systems from $125.00 to $175.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. Scotiabank reaffirmed a "sector perform" rating and set a $130.00 price objective on shares of CommVault Systems in a research note on Wednesday, July 29th. Weiss Ratings upgraded CommVault Systems from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, June 16th. Finally, Truist Financial boosted their target price on shares of CommVault Systems from $155.00 to $182.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, CommVault Systems presently has an average rating of "Moderate Buy" and a consensus target price of $152.47.

CommVault Systems Stock Down 2.8%

CVLT stock opened at $136.40 on Friday. The company has a 50 day moving average price of $139.29 and a two-hundred day moving average price of $111.27. The company has a debt-to-equity ratio of 16.94, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a market capitalization of $5.65 billion, a P/E ratio of 86.88 and a beta of 0.81. CommVault Systems, Inc. has a one year low of $71.75 and a one year high of $198.18.

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

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.

Want to see what other hedge funds are holding CVLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CommVault Systems, Inc. (NASDAQ:CVLT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source