Lazard Asset Management LLC Acquires 18,950 Shares of CommVault Systems, Inc. $CVLT

Lazard Asset Management LLC grew its holdings in CommVault Systems, Inc. (NASDAQ:CVLT) by 59.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,983 shares of the software maker’s stock after acquiring an additional 18,950 shares during the period. Lazard Asset Management LLC owned about 0.12% of CommVault Systems worth $3,971,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Entropy Technologies LP bought a new stake in CommVault Systems during the 1st quarter valued at approximately $509,000. Mizuho Markets Americas LLC purchased a new position in CommVault Systems in the 1st quarter worth approximately $8,005,000. Gibbs Wealth Management boosted its stake in CommVault Systems by 90.9% in the 1st quarter. Gibbs Wealth Management now owns 10,242 shares of the software maker’s stock worth $798,000 after purchasing an additional 4,877 shares during the period. Sei Investments Co. boosted its stake in CommVault Systems by 102.0% in the 1st quarter. Sei Investments Co. now owns 144,960 shares of the software maker’s stock worth $11,291,000 after purchasing an additional 73,206 shares during the period. Finally, Cetera Investment Advisers grew its holdings in CommVault Systems by 53.8% during the 1st quarter. Cetera Investment Advisers now owns 6,798 shares of the software maker’s stock valued at $529,000 after buying an additional 2,378 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CVLT. Wolfe Research initiated coverage on shares of CommVault Systems in a research report on Friday, May 1st. They set a “peer perform” rating on the stock. Oppenheimer upped their target price on shares of CommVault Systems from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. KeyCorp raised their target price on shares of CommVault Systems from $125.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $132.00 price target on shares of CommVault Systems in a report on Monday. Finally, Piper Sandler cut shares of CommVault Systems from an “overweight” rating to a “neutral” rating and set a $133.00 price target on the stock. in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, CommVault Systems currently has an average rating of “Moderate Buy” and a consensus target price of $152.47.

Insider Activity at CommVault Systems

In other news, CFO Gary Merrill sold 4,554 shares of the business’s stock in a transaction dated 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 in the company, valued at $7,765,092.50. The trade was a 5.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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. Also, CEO Sanjay Mirchandani sold 8,450 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $99.13, for a total transaction of $837,648.50. Following the completion of the sale, the chief executive officer owned 306,927 shares in the company, valued at approximately $30,425,673.51. This trade represents a 2.68% 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. Insiders have sold a total of 55,279 shares of company stock valued at $5,786,557 over the last 90 days. 0.86% of the stock is owned by corporate insiders.

CommVault Systems Stock Performance

NASDAQ:CVLT opened at $117.80 on Friday. The company has a market cap of $4.88 billion, a price-to-earnings ratio of 75.03 and a beta of 0.79. CommVault Systems, Inc. has a 1 year low of $71.75 and a 1 year high of $198.18. The stock’s 50 day simple moving average is $132.89 and its two-hundred day simple moving average is $107.00. The company has a debt-to-equity ratio of 16.94, a current ratio of 2.04 and a quick ratio of 1.95.

CommVault Systems (NASDAQ:CVLT) last posted its earnings results 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 return on equity of 88.75% and a net margin of 5.62%.The firm had revenue of $314.13 million during the quarter, compared to the consensus estimate of $310.43 million. During the same period in the prior year, the company earned $1.01 EPS. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities analysts anticipate that CommVault Systems, Inc. will post 2.85 earnings per share 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.