Commvault Systems, Inc. (NASDAQ:CVLT) Shares Bought by Legato Capital Management LLC

Legato Capital Management LLC raised its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 72.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 6,745 shares of the software maker’s stock after buying an additional 2,825 shares during the quarter. Legato Capital Management LLC’s holdings in Commvault Systems were worth $820,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Champlain Investment Partners LLC raised its holdings in shares of Commvault Systems by 58.5% during the first quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker’s stock worth $83,704,000 after purchasing an additional 304,459 shares during the last quarter. Norges Bank purchased a new position in shares of Commvault Systems during the 4th quarter valued at about $24,134,000. Acadian Asset Management LLC lifted its holdings in shares of Commvault Systems by 16.3% in the 1st quarter. Acadian Asset Management LLC now owns 1,596,635 shares of the software maker’s stock valued at $161,914,000 after buying an additional 223,347 shares during the period. M&G Plc purchased a new stake in shares of Commvault Systems in the second quarter worth about $10,265,000. Finally, CANADA LIFE ASSURANCE Co boosted its stake in shares of Commvault Systems by 247.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 110,567 shares of the software maker’s stock worth $11,205,000 after buying an additional 78,713 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Commvault Systems Stock Down 0.3 %

CVLT opened at $151.48 on Wednesday. The company has a market cap of $6.63 billion, a PE ratio of 40.29 and a beta of 0.61. Commvault Systems, Inc. has a twelve month low of $63.70 and a twelve month high of $156.00. The company has a 50-day moving average price of $133.06 and a 200 day moving average price of $113.28.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, topping the consensus estimate of $0.73 by $0.12. The company had revenue of $224.67 million during the quarter, compared to analyst estimates of $215.54 million. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. Commvault Systems’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.29 EPS. As a group, sell-side analysts expect that Commvault Systems, Inc. will post 1.71 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on CVLT. Royal Bank of Canada raised their price objective on shares of Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 31st. Lake Street Capital lifted their price objective on shares of Commvault Systems from $86.00 to $98.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Wells Fargo & Company upped their price objective on shares of Commvault Systems from $125.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Piper Sandler raised their target price on Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Finally, DA Davidson upped their price target on Commvault Systems from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.29.

About Commvault Systems

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.