Los Angeles Capital Management LLC Acquires 3,490 Shares of CommVault Systems, Inc. (NASDAQ:CVLT)

Los Angeles Capital Management LLC increased its holdings in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,812 shares of the software maker's stock after acquiring an additional 3,490 shares during the quarter. Los Angeles Capital Management LLC owned about 0.09% of CommVault Systems worth $6,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of CVLT. Raymond James Financial Inc. bought a new position in shares of CommVault Systems in the 4th quarter worth about $2,815,000. Commonwealth Equity Services LLC increased its stake in CommVault Systems by 8.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 3,040 shares of the software maker's stock valued at $459,000 after purchasing an additional 244 shares in the last quarter. Natixis Advisors LLC increased its stake in CommVault Systems by 2.2% during the 4th quarter. Natixis Advisors LLC now owns 10,826 shares of the software maker's stock valued at $1,634,000 after purchasing an additional 238 shares in the last quarter. Corient Private Wealth LLC increased its stake in CommVault Systems by 8.3% during the 4th quarter. Corient Private Wealth LLC now owns 2,909 shares of the software maker's stock valued at $439,000 after purchasing an additional 224 shares in the last quarter. Finally, Xponance Inc. increased its stake in CommVault Systems by 6.7% during the 4th quarter. Xponance Inc. now owns 6,469 shares of the software maker's stock valued at $976,000 after purchasing an additional 405 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Nicola Adamo sold 1,500 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $169.74, for a total value of $254,610.00. Following the transaction, the director owned 16,178 shares of the company's stock, valued at approximately $2,746,053.72. The trade was a 8.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sanjay Mirchandani sold 1,709 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $299,075.00. Following the completion of the transaction, the chief executive officer directly owned 469,648 shares in the company, valued at $82,188,400. This trade represents a 0.36% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,957 shares of company stock worth $859,428. Company insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CVLT. Royal Bank Of Canada raised their price target on shares of CommVault Systems from $175.00 to $185.00 and gave the company a "sector perform" rating in a report on Wednesday, April 30th. Wall Street Zen raised shares of CommVault Systems from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. DA Davidson dropped their price target on shares of CommVault Systems from $215.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Guggenheim raised shares of CommVault Systems from a "neutral" rating to a "buy" rating and set a $210.00 price objective on the stock in a report on Wednesday, July 16th. Finally, Piper Sandler raised their price objective on shares of CommVault Systems from $168.00 to $170.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $189.13.

CommVault Systems Trading Down 1.9%

NASDAQ CVLT opened at $168.73 on Tuesday. CommVault Systems, Inc. has a 12 month low of $120.99 and a 12 month high of $192.01. The stock has a market cap of $7.51 billion, a price-to-earnings ratio of 99.84 and a beta of 0.73. The company's 50 day moving average is $177.40 and its two-hundred day moving average is $167.94.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last released its earnings results on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.10. CommVault Systems had a net margin of 7.64% and a return on equity of 32.31%. The company had revenue of $275.04 million for the quarter, compared to analysts' expectations of $262.52 million. During the same quarter last year, the business earned $0.79 EPS. The firm's revenue was up 23.2% compared to the same quarter last year. Sell-side analysts forecast that CommVault Systems, Inc. will post 1.65 EPS for the current year.

CommVault Systems Company Profile

Commvault Systems, Inc provides data protection platform that helps customers to secure, defend, and recover their data in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; Commvault Complete Data Protection, a data protection solution; and Metallic Data Protection as-a-service, which delivers enterprise-grade data protection as a service on a cloud platform, with advanced built-in security controls.

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