Martingale Asset Management L P Trims Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Martingale Asset Management L P reduced its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 19.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,824 shares of the software maker’s stock after selling 5,598 shares during the quarter. Martingale Asset Management L P’s holdings in Commvault Systems were worth $3,665,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in Commvault Systems in the 3rd quarter worth about $33,000. National Bank of Canada FI purchased a new position in shares of Commvault Systems during the second quarter worth approximately $30,000. Hexagon Capital Partners LLC increased its position in shares of Commvault Systems by 124.8% during the second quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock worth $43,000 after acquiring an additional 196 shares during the period. Signaturefd LLC increased its position in shares of Commvault Systems by 70.8% during the second quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after acquiring an additional 170 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Commvault Systems by 140.5% during the second quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock worth $64,000 after acquiring an additional 309 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CVLT shares. Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Oppenheimer started coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 target price on the stock. StockNews.com lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. DA Davidson raised their target price on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Finally, 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 note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $151.25.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, CEO Sanjay Mirchandani sold 10,775 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $165.30, for a total value of $1,781,107.50. Following the completion of the sale, the chief executive officer now directly owns 459,969 shares in the company, valued at $76,032,875.70. This trade represents a 2.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary Merrill sold 1,523 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 93,007 shares of the company’s stock, valued at approximately $15,335,924.23. This trade represents a 1.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Commvault Systems Stock Performance

NASDAQ CVLT opened at $171.59 on Friday. The firm’s 50 day moving average price is $158.48 and its 200-day moving average price is $140.09. Commvault Systems, Inc. has a 52-week low of $72.76 and a 52-week high of $178.72. The company has a market cap of $7.50 billion, a PE ratio of 43.44 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. The company had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. Commvault Systems’s revenue was up 16.1% compared to the same quarter last year. During the same period last year, the firm earned $0.30 earnings per share. On average, analysts forecast 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.