ClearBridge Investments, an investment management company, released its “ClearBridge Small Cap Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy outperformed the Russell 2000 Index, in the fourth quarter. The strategy gained eight of the eleven sectors it was invested in the quarter on an absolute basis. Industrials, IT, and financial sectors were the leading contributors while healthcare detracted from the performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.
ClearBridge Small Cap Strategy highlighted stocks like Commvault Systems, Inc. (NASDAQ:CVLT) in the Q4 2022 investor letter. Headquartered in Tinton Falls, New Jersey, Commvault Systems, Inc. (NASDAQ:CVLT) is a data protection and information management software applications provider. On February 27, 2023, Commvault Systems, Inc. (NASDAQ:CVLT) stock closed at $59.70 per share. One-month return of Commvault Systems, Inc. (NASDAQ:CVLT) was -4.07%, and its shares lost 4.33% of their value over the last 52 weeks. Commvault Systems, Inc. (NASDAQ:CVLT) has a market capitalization of $2.66 billion.
ClearBridge Small Cap Strategy made the following comment about Commvault Systems, Inc. (NASDAQ:CVLT) in its Q4 2022 investor letter:
“Commvault Systems, Inc. (NASDAQ:CVLT), which provides software solutions for data backup and recovery, also proved resilient amid a challenging macro environment. The critical need by customers for Commvaults’ products and services has helped the company maintain strong execution and exceed analysts’ expectations, helping facilitate additional traction as the company transitions to a software-as-a-service (SAAS) business model. Despite positive recent performance, we feel strongly that the market continues to undervalue Commvault’s long-term drivers, potential for accelerating growth and improving cash flow generation.”
Commvault Systems, Inc. (NASDAQ:CVLT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 24 hedge fund portfolios held Commvault Systems, Inc. (NASDAQ:CVLT) at the end of the fourth quarter which was 18 in the previous quarter.
We discussed Commvault Systems, Inc. (NASDAQ:CVLT) in another article and shared the list of best tech stocks to buy according to Peter Algert’s Algert Global. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 12 Most Promising New Tech Stocks To Buy
- S&P 500 Dividend Aristocrats List
- 10 Most Promising Biotech Stocks According to Analysts
Disclosure: None. This article is originally published at Insider Monkey.
