Geode Capital Management LLC trimmed its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 1.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,244,980 shares of the software maker's stock after selling 24,383 shares during the period. Geode Capital Management LLC owned approximately 2.85% of Commvault Systems worth $191,724,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of CVLT. Capital Performance Advisors LLP acquired a new position in Commvault Systems during the 3rd quarter valued at about $33,000. National Bank of Canada FI bought a new position in shares of Commvault Systems in the second quarter valued at approximately $30,000. Signaturefd LLC increased its stake in shares of Commvault Systems by 70.8% during the second quarter. Signaturefd LLC now owns 410 shares of the software maker's stock valued at $50,000 after acquiring an additional 170 shares during the period. Point72 DIFC Ltd bought a new stake in Commvault Systems during the third quarter worth approximately $71,000. Finally, DT Investment Partners LLC acquired a new stake in Commvault Systems in the second quarter worth approximately $69,000. 93.50% of the stock is currently owned by institutional investors.
CVLT has been the topic of a number of research reports. DA Davidson boosted their price objective on Commvault Systems from $170.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. Guggenheim cut shares of Commvault Systems from a "buy" rating to a "neutral" rating in a research report on Tuesday, October 15th. StockNews.com lowered shares of Commvault Systems from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 1st. Oppenheimer initiated coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They issued an "outperform" rating and a $200.00 target price on the stock. Finally, Royal Bank of Canada raised their target price on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $151.25.
Get Our Latest Stock Report on CVLT
Commvault Systems stock opened at $168.69 on Monday. The company has a market cap of $7.38 billion, a P/E ratio of 42.71 and a beta of 0.61. Commvault Systems, Inc. has a fifty-two week low of $73.33 and a fifty-two week high of $178.72. The firm's 50 day simple moving average is $162.52 and its 200-day simple moving average is $144.85.
Commvault Systems (NASDAQ:CVLT - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. The firm had revenue of $233.28 million for the quarter, compared to analysts' expectations of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The company's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 EPS. On average, analysts expect that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.
In related news, insider Gary Merrill sold 1,523 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $164.89, for a total transaction of $251,127.47. Following the completion of the sale, the insider now directly owns 93,007 shares in the company, valued at approximately $15,335,924.23. This trade represents a 1.61 % 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. Also, Director Allison Pickens sold 1,232 shares of the business's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $172.50, for a total value of $212,520.00. Following the completion of the transaction, the director now owns 5,899 shares in the company, valued at $1,017,577.50. This trade represents a 17.28 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,530 shares of company stock valued at $2,244,755. Corporate insiders own 1.00% of the company's stock.
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.
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