Glenmede Trust Co. NA Sells 86,949 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Glenmede Trust Co. NA lessened its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 38.3% in the third quarter, Holdings Channel.com reports. The firm owned 140,354 shares of the software maker’s stock after selling 86,949 shares during the period. Glenmede Trust Co. NA’s holdings in Commvault Systems were worth $21,593,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC lifted its position in shares of Commvault Systems by 33.5% in the second quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock worth $78,882,000 after purchasing an additional 162,722 shares in the last quarter. Renaissance Technologies LLC increased its stake in Commvault Systems by 7.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock valued at $220,466,000 after buying an additional 126,800 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Commvault Systems by 25.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after buying an additional 120,779 shares in the last quarter. Congress Asset Management Co. boosted its stake in shares of Commvault Systems by 29.4% during the 3rd quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker’s stock worth $75,719,000 after buying an additional 111,715 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Commvault Systems by 26.1% in the 3rd quarter. FMR LLC now owns 466,315 shares of the software maker’s stock valued at $71,743,000 after acquiring an additional 96,525 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on CVLT. Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Royal Bank of Canada increased their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. KeyCorp upped their price target on shares of Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Oppenheimer assumed coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective for the company. Finally, DA Davidson boosted their price target on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $151.25.

Insiders Place Their Bets

In other news, Director Allison Pickens sold 1,232 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.89, for a total transaction of $189,592.48. Following the completion of the sale, the director now directly owns 7,131 shares in the company, valued at $1,097,389.59. This represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gary Merrill sold 1,523 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $164.89, for a total transaction of $251,127.47. Following the sale, the insider now directly owns 93,007 shares in the company, valued at $15,335,924.23. This trade represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,530 shares of company stock valued at $2,221,827. 1.00% of the stock is currently owned by company insiders.

Commvault Systems Stock Performance

NASDAQ CVLT opened at $171.63 on Thursday. The firm’s fifty day moving average price is $157.72 and its two-hundred day moving average price is $139.43. The stock has a market cap of $7.51 billion, a PE ratio of 43.45 and a beta of 0.59. Commvault Systems, Inc. has a fifty-two week low of $72.20 and a fifty-two week high of $178.72.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The firm had revenue of $233.28 million for the quarter, compared to analyst estimates of $220.76 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period last year, the firm posted $0.30 earnings per share. As a group, sell-side analysts predict that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal year.

Commvault Systems Profile

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.