Jacobs Levy Equity Management Inc. Has $39.38 Million Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Jacobs Levy Equity Management Inc. trimmed its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 26.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 388,271 shares of the software maker’s stock after selling 136,424 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.89% of Commvault Systems worth $39,382,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CVLT. Pacer Advisors Inc. increased its position in Commvault Systems by 61.2% during the 4th quarter. Pacer Advisors Inc. now owns 8,312 shares of the software maker’s stock worth $664,000 after purchasing an additional 3,155 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Commvault Systems by 2.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,839 shares of the software maker’s stock worth $1,584,000 after purchasing an additional 455 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in Commvault Systems during the 4th quarter worth approximately $982,000. Handelsbanken Fonder AB increased its position in Commvault Systems by 34.7% during the 4th quarter. Handelsbanken Fonder AB now owns 8,930 shares of the software maker’s stock worth $713,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Commvault Systems during the 4th quarter worth approximately $67,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVLT has been the topic of a number of research reports. DA Davidson boosted their target price on shares of Commvault Systems from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Guggenheim reissued a “buy” rating and set a $122.00 target price on shares of Commvault Systems in a report on Tuesday, June 25th. StockNews.com raised shares of Commvault Systems from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 11th. Wells Fargo & Company boosted their target price on shares of Commvault Systems from $125.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Finally, Lake Street Capital boosted their target price on shares of Commvault Systems from $86.00 to $98.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $124.29.

Commvault Systems Trading Up 22.8 %

NASDAQ CVLT traded up $28.15 on Tuesday, hitting $151.35. 1,433,005 shares of the company were exchanged, compared to its average volume of 339,614. The stock has a fifty day moving average of $118.11 and a 200-day moving average of $103.97. Commvault Systems, Inc. has a 12 month low of $63.70 and a 12 month high of $151.50. The company has a market cap of $6.62 billion, a PE ratio of 37.57 and a beta of 0.61.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.10. Commvault Systems had a net margin of 20.13% and a return on equity of 31.27%. The firm had revenue of $223.29 million for the quarter, compared to the consensus estimate of $213.00 million. On average, analysts expect that Commvault Systems, Inc. will post 1.7 earnings per share for the current year.

Insider Activity

In other news, CEO Sanjay Mirchandani sold 15,975 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $110.20, for a total value of $1,760,445.00. Following the completion of the sale, the chief executive officer now owns 539,465 shares in the company, valued at $59,449,043. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Vivie Lee sold 2,500 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $112.19, for a total transaction of $280,475.00. Following the completion of the transaction, the director now owns 13,589 shares in the company, valued at $1,524,549.91. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sanjay Mirchandani sold 15,975 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $110.20, for a total transaction of $1,760,445.00. Following the transaction, the chief executive officer now owns 539,465 shares of the company’s stock, valued at approximately $59,449,043. The disclosure for this sale can be found here. Insiders sold a total of 59,816 shares of company stock worth $6,613,874 over the last quarter. Insiders own 1.00% of the company’s stock.

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.