Jupiter Topco LLC Acquires New Shares in CommVault Systems, Inc. $CVLT

Jupiter Topco LLC acquired a new position in shares of CommVault Systems, Inc. (NASDAQ:CVLT) during the second quarter, Holdings Channel.com reports. The fund acquired 205,609 shares of the software maker’s stock, valued at approximately $29,142,000.

Several other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in CommVault Systems during the 2nd quarter valued at about $855,420,000. The Manufacturers Life Insurance Company purchased a new stake in shares of CommVault Systems in the second quarter worth about $65,765,000. TD Asset Management Inc lifted its holdings in shares of CommVault Systems by 14,047.5% in the fourth quarter. TD Asset Management Inc now owns 381,982 shares of the software maker’s stock worth $47,885,000 after buying an additional 379,282 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of CommVault Systems by 60.8% in the second quarter. AQR Capital Management LLC now owns 893,385 shares of the software maker’s stock valued at $155,744,000 after acquiring an additional 337,830 shares during the period. Finally, Pictet Asset Management Holding SA boosted its position in shares of CommVault Systems by 36.2% in the first quarter. Pictet Asset Management Holding SA now owns 1,239,225 shares of the software maker’s stock valued at $96,447,000 after acquiring an additional 329,243 shares during the period. Institutional investors own 93.50% of the company’s stock.

Insider Activity

In related news, Director A Shane Sanders sold 476 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $134.19, for a total value of $63,874.44. Following the completion of the transaction, the director directly owned 8,696 shares in the company, valued at approximately $1,166,916.24. The trade was a 5.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gary Merrill sold 1,293 shares of the stock in a transaction on Wednesday, August 19th. The shares were 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 directly owned 69,628 shares in the company, valued at approximately $9,942,878.40. This represents a 1.82% decrease in their position. The SEC filing for this sale provides additional information. 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 90 days, insiders have sold 29,602 shares of company stock worth $4,240,541. Corporate insiders own 0.86% of the company’s stock.

CommVault Systems Stock Down 2.8%

CVLT stock opened at $136.40 on Friday. The company’s 50 day moving average is $139.29 and its 200 day moving average is $111.27. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of 86.88 and a beta of 0.81. 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 1-year low of $71.75 and a 1-year high of $198.18.

CommVault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.26. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The business had revenue of $314.13 million during 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 revenue for the quarter 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 fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on CVLT shares. Scotiabank reaffirmed a “sector perform” rating and set a $130.00 target price on shares of CommVault Systems in a report on Wednesday, July 29th. Truist Financial raised their price target on shares of CommVault Systems from $155.00 to $182.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Zacks Research lowered shares of CommVault Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. UBS Group reaffirmed a “neutral” rating on shares of CommVault Systems in a report on Monday, July 27th. Finally, Piper Sandler downgraded CommVault Systems from an “overweight” rating to a “neutral” rating and set a $133.00 price objective on the stock. in a research report on Tuesday, July 28th. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $152.47.

About CommVault Systems

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.