Legal & General Group Plc Invests $32.20 Million in CommVault Systems, Inc. $CVLT

Legal & General Group Plc acquired a new stake in CommVault Systems, Inc. (NASDAQ:CVLT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 227,199 shares of the software maker’s stock, valued at approximately $32,201,000.

A number of other institutional investors have also modified their holdings of CVLT. BlackRock Inc. acquired a new stake in CommVault Systems during the 2nd quarter worth approximately $855,420,000. Vanguard Group Inc. lifted its position in CommVault Systems by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 5,675,590 shares of the software maker’s stock valued at $711,492,000 after buying an additional 240,093 shares in the last quarter. First Trust Advisors LP lifted its position in CommVault Systems by 25.5% during the fourth quarter. First Trust Advisors LP now owns 1,537,034 shares of the software maker’s stock valued at $192,683,000 after buying an additional 312,178 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in CommVault Systems by 36.2% during the first quarter. Pictet Asset Management Holding SA now owns 1,239,225 shares of the software maker’s stock worth $96,447,000 after buying an additional 329,243 shares during the period. Finally, Westfield Capital Management Co. LP increased its position in shares of CommVault Systems by 34.5% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,057,077 shares of the software maker’s stock worth $132,515,000 after acquiring an additional 270,902 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In other news, Director A Shane Sanders sold 476 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $134.19, for a total transaction of $63,874.44. Following the transaction, the director 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gary Merrill sold 1,293 shares of CommVault Systems stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total value of $184,640.40. Following the completion of the transaction, the chief financial officer owned 69,628 shares of the company’s stock, valued at $9,942,878.40. This trade represents a 1.82% 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 quarter, insiders have sold 29,602 shares of company stock worth $4,240,541. Company insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

CVLT has been the topic of a number of research reports. Truist Financial raised 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. KeyCorp increased their price target on CommVault Systems from $125.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Piper Sandler downgraded CommVault Systems from an “overweight” rating to a “neutral” rating and set a $133.00 price target for the company. in a report on Tuesday, July 28th. Jefferies Financial Group reissued a “hold” rating and issued a $130.00 price objective on shares of CommVault Systems in a research report on Wednesday, July 29th. Finally, DA Davidson set a $175.00 price objective on CommVault Systems in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.47.

CommVault Systems Stock Down 2.8%

Shares of NASDAQ:CVLT opened at $136.40 on Friday. The firm has a market cap of $5.65 billion, a PE ratio of 86.88 and a beta of 0.81. The company has a fifty day simple moving average of $139.29 and a 200 day simple moving average of $111.27. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 16.94. CommVault Systems, Inc. has a 12-month low of $71.75 and a 12-month high of $198.18.

CommVault Systems (NASDAQ:CVLT) 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. The firm had revenue of $314.13 million for the quarter, compared to the consensus estimate of $310.43 million. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The firm’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 EPS. On average, equities research analysts anticipate that CommVault Systems, Inc. will post 2.84 EPS for the current fiscal year.

CommVault Systems 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.