Campbell & CO Investment Adviser Acquires Stake in CommVault

Campbell & CO Investment Adviser LLC has established a new position in CommVault Systems, Inc. (NASDAQ: CVLT) during the second quarter of 2023, as revealed in the firm’s recent 13F filing with the Securities and Exchange Commission. The investment firm acquired 5,468 shares of the software company’s stock, amounting to an approximate value of $953,000.

Other institutional investors have also modified their holdings in CommVault Systems recently. Notably, SBI Securities Co. Ltd. increased its stake by 101.3% in the first quarter, now owning 159 shares valued at around $25,000. Meanwhile, Cullen Frost Bankers Inc. purchased a new position worth about $27,000 in the same period.

Significant Changes in Institutional Holdings

Another remarkable change came from Brooklyn Investment Group, which raised its stake by an astonishing 8,550.0% during the first quarter. The group now holds 173 shares valued at approximately $27,000 after acquiring an additional 171 shares. Similarly, Northwestern Mutual Wealth Management Co. increased its holdings by 126.3%, owning 516 shares worth around $81,000.

Finally, Reyes Financial Architecture Inc. entered the market by purchasing a new stake in the second quarter valued at about $98,000. Currently, institutional investors and hedge funds collectively own 93.50% of CommVault Systems’ stock.

As of Friday, CommVault’s stock was trading down by 0.8% at $126.62. The company possesses a quick ratio of 1.24, a current ratio of 2.53, and a debt-to-equity ratio of 4.18. The stock has a market capitalization of $5.58 billion, with a price-to-earnings ratio of 71.14 and a beta of 0.69.

Analyst Ratings and Future Projections

Research analysts have expressed mixed sentiments regarding CommVault Systems. DA Davidson reiterated a “buy” rating, setting a price target of $220.00 on the shares. Conversely, KeyCorp adjusted its target price from $225.00 to $185.00, maintaining an “overweight” rating.

On October 29, Royal Bank of Canada lowered its price target from $217.00 to $167.00, assigning a “sector perform” rating. Additionally, Guggenheim reaffirmed a “buy” rating, targeting $220.00. As it stands, one analyst rates the stock as a Strong Buy, nine analysts suggest a Buy, while three recommend holding, and one has issued a Sell rating, resulting in an average rating of “Moderate Buy” with a consensus target price of $195.10, according to data from MarketBeat.

In related developments, insider trading activity has also been noted. On September 3, Director Allison Pickens sold 690 shares at an average price of $177.89, totaling $122,744.10. Following this sale, Pickens retained 5,166 shares valued at approximately $918,979.74, reflecting an 11.78% decrease in her holdings.

On September 9, CFO Jennifer Leigh Dirico divested 14,909 shares at an average price of $182.22, resulting in total proceeds of $2,716,717.98. Dirico’s remaining stake includes 45,143 shares, valued at around $8,225,957.46, indicating a 24.83% reduction in her position.

Over the last quarter, insiders have sold 55,942 shares worth approximately $10,019,157. Currently, insiders own 1.00% of the stock.

CommVault Systems, Inc. specializes in data protection solutions, assisting customers in securing, defending, and recovering their data both in the United States and internationally. Its product lineup includes Commvault Backup and Recovery, Commvault Disaster Recovery, Commvault Complete Data Protection, and Metallic Data Protection as-a-Service, each designed with advanced security features.

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