Diversified Trust Co Sells 763 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Diversified Trust Co lowered its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 16.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,781 shares of the software maker’s stock after selling 763 shares during the period. Diversified Trust Co’s holdings in Commvault Systems were worth $582,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Champlain Investment Partners LLC lifted its stake in Commvault Systems by 58.5% in the 1st quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker’s stock worth $83,704,000 after purchasing an additional 304,459 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Commvault Systems by 16.3% during the 1st quarter. Acadian Asset Management LLC now owns 1,596,635 shares of the software maker’s stock valued at $161,914,000 after buying an additional 223,347 shares in the last quarter. AQR Capital Management LLC increased its stake in 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 acquiring an additional 162,722 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Commvault Systems by 7.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock worth $220,466,000 after acquiring an additional 126,800 shares in the last quarter. Finally, M&G Plc purchased a new position in shares of Commvault Systems in the second quarter valued at $10,265,000. Institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

CVLT has been the topic of a number of recent research reports. DA Davidson upped their price target on shares of Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Royal Bank of Canada lifted their price target on Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st. KeyCorp upped their price objective on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Guggenheim reiterated a “buy” rating and issued a $122.00 target price on shares of Commvault Systems in a report on Tuesday, June 25th. Finally, StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 31st. Three equities research 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Commvault Systems Stock Performance

Shares of CVLT stock opened at $160.82 on Friday. The stock has a 50 day moving average price of $149.88 and a 200 day moving average price of $125.19. Commvault Systems, Inc. has a 52-week low of $63.70 and a 52-week high of $162.38. The firm has a market capitalization of $7.04 billion, a P/E ratio of 42.77 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, July 30th. The software maker reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.12. The firm had revenue of $224.67 million during the quarter, compared to analyst estimates of $215.54 million. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The business’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 earnings per share. As a group, sell-side analysts forecast that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Insider Buying and Selling at Commvault Systems

In other news, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the completion of the sale, the insider now owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.89, for a total transaction of $189,592.48. Following the transaction, the director now directly owns 7,131 shares in the company, valued at $1,097,389.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary Merrill sold 17,388 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the completion of the sale, the insider now owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

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.