Commvault Systems, Inc. (NASDAQ:CVLT) Holdings Reduced by Glenmede Trust Co. NA

Glenmede Trust Co. NA lessened its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 38.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140,354 shares of the software maker’s stock after selling 86,949 shares during the period. Glenmede Trust Co. NA owned 0.32% of Commvault Systems worth $21,593,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Renaissance Technologies LLC grew its position in Commvault Systems by 7.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock valued at $220,466,000 after buying an additional 126,800 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Commvault Systems by 0.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,601,057 shares of the software maker’s stock valued at $194,606,000 after acquiring an additional 4,422 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Commvault Systems by 33.5% in the 2nd quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock worth $78,882,000 after purchasing an additional 162,722 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Commvault Systems by 25.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock valued at $90,278,000 after purchasing an additional 120,779 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Commvault Systems by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 523,474 shares of the software maker’s stock valued at $63,637,000 after buying an additional 2,633 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Commvault Systems Trading Down 3.4 %

Shares of NASDAQ:CVLT opened at $171.63 on Thursday. The business’s 50 day moving average is $157.72 and its 200-day moving average is $139.43. The firm has a market capitalization of $7.51 billion, a PE ratio of 43.45 and a beta of 0.59. Commvault Systems, Inc. has a 1-year low of $72.20 and a 1-year high of $178.72.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data 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. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The company had revenue of $233.28 million for the quarter, compared to analyst estimates of $220.76 million. During the same period in the prior year, the company posted $0.30 EPS. The company’s revenue was up 16.1% compared to the same quarter last year. On average, sell-side analysts predict that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Sanjay Mirchandani sold 10,775 shares of the company’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 transaction of $1,781,107.50. Following the transaction, the chief executive officer now directly owns 459,969 shares in the company, valued at approximately $76,032,875.70. This represents a 2.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.89, for a total transaction of $189,592.48. Following the completion of the sale, the director now directly owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. This represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,530 shares of company stock valued at $2,221,827. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CVLT has been the topic of a number of recent analyst reports. DA Davidson boosted their target price on Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Oppenheimer started coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target for the company. StockNews.com lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Guggenheim lowered Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. 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 research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $151.25.

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.