Geode Capital Management LLC Sells 24,383 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Geode Capital Management LLC cut its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 1.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,244,980 shares of the software maker’s stock after selling 24,383 shares during the period. Geode Capital Management LLC’s holdings in Commvault Systems were worth $191,724,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Intech Investment Management LLC acquired a new stake in shares of Commvault Systems in the second quarter worth about $2,221,000. Charles Schwab Investment Management Inc. lifted its holdings in Commvault Systems by 25.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after purchasing an additional 120,779 shares during the last quarter. Summit Partners Public Asset Management LLC bought a new stake in Commvault Systems during the third quarter worth approximately $67,722,000. Vontobel Holding Ltd. acquired a new position in Commvault Systems during the third quarter valued at approximately $1,126,000. Finally, Point72 Hong Kong Ltd raised its position in shares of Commvault Systems by 37.9% in the third quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker’s stock valued at $3,603,000 after purchasing an additional 6,433 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on CVLT shares. Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Oppenheimer assumed coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective for the company. DA Davidson raised their target price on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada upped their price target on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Commvault Systems presently has an average rating of “Moderate Buy” and an average target price of $151.25.

Commvault Systems Trading Down 2.6 %

Shares of NASDAQ:CVLT opened at $168.69 on Monday. The firm has a market capitalization of $7.38 billion, a PE ratio of 42.71 and a beta of 0.61. Commvault Systems, Inc. has a 1-year low of $73.33 and a 1-year high of $178.72. The business’s 50 day moving average is $162.52 and its 200-day moving average is $144.85.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The firm had revenue of $233.28 million for 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%. The business’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.30 earnings per share. On average, sell-side analysts predict that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Insider Buying and Selling

In other Commvault Systems news, insider Gary Merrill sold 1,523 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $164.89, for a total value 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 represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Allison Pickens sold 1,232 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $172.50, for a total value of $212,520.00. Following the transaction, the director now owns 5,899 shares of the company’s stock, valued at $1,017,577.50. This represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,530 shares of company stock valued at $2,244,755 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

About Commvault Systems

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.