Zurcher Kantonalbank Zurich Cantonalbank Sells 266 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 1.4% in the 4th quarter, Holdings Channel reports. The fund owned 18,584 shares of the software maker’s stock after selling 266 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Commvault Systems were worth $1,484,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC lifted its position in Commvault Systems by 105.6% in the third quarter. SG Americas Securities LLC now owns 30,129 shares of the software maker’s stock worth $2,037,000 after purchasing an additional 15,477 shares during the period. Exchange Traded Concepts LLC lifted its position in Commvault Systems by 1,581.9% in the third quarter. Exchange Traded Concepts LLC now owns 8,998 shares of the software maker’s stock worth $608,000 after purchasing an additional 8,463 shares during the period. Simplicity Solutions LLC lifted its position in Commvault Systems by 7.6% in the third quarter. Simplicity Solutions LLC now owns 5,642 shares of the software maker’s stock worth $381,000 after purchasing an additional 397 shares during the period. Lindenwold Advisors INC lifted its position in Commvault Systems by 2.7% in the third quarter. Lindenwold Advisors INC now owns 7,179 shares of the software maker’s stock worth $485,000 after purchasing an additional 186 shares during the period. Finally, Bailard Inc. lifted its position in Commvault Systems by 14.0% in the third quarter. Bailard Inc. now owns 4,900 shares of the software maker’s stock worth $331,000 after purchasing an additional 600 shares during the period. 93.50% of the stock is owned by institutional investors.

Commvault Systems Stock Performance

Shares of NASDAQ:CVLT opened at $97.09 on Friday. Commvault Systems, Inc. has a twelve month low of $56.76 and a twelve month high of $102.21. The firm has a market cap of $4.25 billion, a PE ratio of -3,235.25 and a beta of 0.62. The business has a fifty day moving average of $97.39 and a 200-day moving average of $83.56.

Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. Commvault Systems had a positive return on equity of 32.27% and a negative net margin of 0.09%. The company had revenue of $216.81 million during the quarter, compared to analyst estimates of $208.01 million. During the same period last year, the company posted $0.17 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, analysts anticipate that Commvault Systems, Inc. will post 1.35 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on CVLT shares. Royal Bank of Canada increased their price objective on Commvault Systems from $86.00 to $97.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 31st. KeyCorp upgraded Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 price objective for the company in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.60.

Insider Activity

In other news, Director Allison Pickens sold 990 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $94.73, for a total value of $93,782.70. Following the completion of the sale, the director now directly owns 7,206 shares in the company, valued at $682,624.38. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Sanjay Mirchandani sold 21,494 shares of Commvault Systems stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $97.82, for a total value of $2,102,543.08. Following the completion of the sale, the chief executive officer now directly owns 399,356 shares in the company, valued at $39,065,003.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Allison Pickens sold 990 shares of Commvault Systems stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $94.73, for a total value of $93,782.70. Following the completion of the sale, the director now owns 7,206 shares of the company’s stock, valued at $682,624.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,306 shares of company stock worth $2,276,265. 1.00% of the stock is owned by corporate insiders.

Commvault Systems Company 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.