CommVault Systems, Inc. $CVLT Position Lowered by LPL Financial LLC

LPL Financial LLC decreased its stake in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 4.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,345 shares of the software maker’s stock after selling 722 shares during the period. LPL Financial LLC’s holdings in CommVault Systems were worth $2,579,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of CVLT. Northern Trust Corp raised its holdings in shares of CommVault Systems by 9.8% during the fourth quarter. Northern Trust Corp now owns 651,973 shares of the software maker’s stock valued at $98,389,000 after buying an additional 58,239 shares during the last quarter. Congress Asset Management Co. boosted its stake in CommVault Systems by 7.7% in the 1st quarter. Congress Asset Management Co. now owns 560,442 shares of the software maker’s stock worth $88,415,000 after purchasing an additional 40,064 shares during the period. Fuller & Thaler Asset Management Inc. boosted its stake in shares of CommVault Systems by 14.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 517,273 shares of the software maker’s stock valued at $78,062,000 after buying an additional 65,822 shares during the period. Driehaus Capital Management LLC boosted its stake in shares of CommVault Systems by 20.8% during the 4th quarter. Driehaus Capital Management LLC now owns 512,251 shares of the software maker’s stock valued at $77,304,000 after buying an additional 88,232 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of CommVault Systems by 21.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 492,045 shares of the software maker’s stock valued at $74,255,000 after buying an additional 86,736 shares during the period. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In other CommVault Systems news, CEO Sanjay Mirchandani sold 1,709 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $299,075.00. Following the sale, the chief executive officer directly owned 469,648 shares in the company, valued at approximately $82,188,400. This trade represents a 0.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gary Merrill sold 1,748 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $174.91, for a total transaction of $305,742.68. Following the completion of the sale, the insider owned 89,923 shares in the company, valued at approximately $15,728,431.93. This trade represents a 1.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

CommVault Systems Stock Performance

NASDAQ:CVLT opened at $179.78 on Tuesday. The stock’s fifty day moving average price is $177.58 and its two-hundred day moving average price is $171.06. CommVault Systems, Inc. has a 52-week low of $128.07 and a 52-week high of $200.68. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 99.88 and a beta of 0.70.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, July 29th. The software maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. CommVault Systems had a net margin of 7.70% and a return on equity of 30.83%. The firm had revenue of $281.98 million for the quarter, compared to analysts’ expectations of $267.83 million. The firm’s revenue was up 26% on a year-over-year basis. On average, equities analysts predict that CommVault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of CommVault Systems from $185.00 to $217.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 30th. Wells Fargo & Company boosted their price objective on shares of CommVault Systems from $190.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Oppenheimer boosted their price objective on shares of CommVault Systems from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Guggenheim set a $220.00 target price on shares of CommVault Systems in a research note on Tuesday, July 29th. Finally, Wall Street Zen cut shares of CommVault Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, CommVault Systems presently has an average rating of “Moderate Buy” and a consensus price target of $205.63.

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.