Alyeska Investment Group L.P. Makes New Investment in Commvault Systems, Inc. (NASDAQ:CVLT)

Alyeska Investment Group L.P. bought a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 87,693 shares of the software maker’s stock, valued at approximately $5,656,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVLT. First Trust Advisors LP raised its stake in Commvault Systems by 17.1% during the 1st quarter. First Trust Advisors LP now owns 37,602 shares of the software maker’s stock worth $2,434,000 after acquiring an additional 5,501 shares during the period. Los Angeles Capital Management LLC raised its position in shares of Commvault Systems by 34.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 75,886 shares of the software maker’s stock valued at $4,202,000 after buying an additional 19,519 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Commvault Systems during the fourth quarter valued at approximately $223,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Commvault Systems during the fourth quarter valued at approximately $2,342,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Commvault Systems during the fourth quarter valued at approximately $295,000. Institutional investors own 93.17% of the company’s stock.

CVLT stock opened at $80.29 on Thursday. The firm has a fifty day simple moving average of $77.07. Commvault Systems, Inc. has a fifty-two week low of $37.73 and a fifty-two week high of $82.17. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of -118.07, a PEG ratio of 7.44 and a beta of 0.71.

Commvault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, May 4th. The software maker reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.11. Commvault Systems had a negative net margin of 4.28% and a positive return on equity of 7.93%. The firm had revenue of $191.34 million during the quarter, compared to analyst estimates of $182.37 million. During the same period last year, the firm posted $0.30 earnings per share. Commvault Systems’s revenue for the quarter was up 16.1% compared to the same quarter last year. Sell-side analysts expect that Commvault Systems, Inc. will post 1.07 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Commvault Systems from $84.00 to $86.00 and gave the company an “overweight” rating in a research report on Wednesday, May 12th. Zacks Investment Research cut shares of Commvault Systems from a “hold” rating to a “sell” rating in a research report on Thursday, July 15th. KeyCorp reiterated an “overweight” rating on shares of Commvault Systems in a research report on Thursday, April 29th. Needham & Company LLC lifted their price objective on shares of Commvault Systems from $76.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, May 5th. Finally, Lake Street Capital lifted their price objective on shares of Commvault Systems from $68.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, May 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $70.63.

In other Commvault Systems news, CEO Sanjay Mirchandani sold 5,000 shares of Commvault Systems stock in a transaction on Monday, May 17th. The shares were sold at an average price of $67.88, for a total transaction of $339,400.00. Following the completion of the transaction, the chief executive officer now directly owns 279,003 shares of the company’s stock, valued at $18,938,723.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Blasio Riccardo Di sold 4,941 shares of Commvault Systems stock in a transaction on Monday, May 24th. The stock was sold at an average price of $73.88, for a total transaction of $365,041.08. Following the transaction, the vice president now directly owns 79,511 shares of the company’s stock, valued at $5,874,272.68. The disclosure for this sale can be found here. Insiders have sold 101,000 shares of company stock valued at $7,758,884 over the last ninety days. 0.99% of the stock is owned by insiders.

About Commvault Systems

Commvault Systems, Inc provides data protection and information management software applications and related services in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, an easy-to-use replication and disaster recovery solution; and Commvault Complete Data Protection, an easy-to-use data protection solution.

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Institutional Ownership by Quarter for Commvault Systems (NASDAQ:CVLT)

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