Martingale Asset Management L P Sells 5,598 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Martingale Asset Management L P reduced its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 19.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,824 shares of the software maker’s stock after selling 5,598 shares during the quarter. Martingale Asset Management L P owned about 0.05% of Commvault Systems worth $3,665,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CVLT. Renaissance Technologies LLC lifted 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 acquiring an additional 126,800 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Commvault Systems by 0.3% in the second quarter. Acadian Asset Management LLC now owns 1,601,057 shares of the software maker’s stock worth $194,606,000 after purchasing an additional 4,422 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Commvault Systems by 33.5% in the second 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Commvault Systems by 0.5% during 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 during the last quarter. 93.50% of the stock is owned by institutional investors.

Commvault Systems Price Performance

Shares of Commvault Systems stock opened at $171.59 on Friday. Commvault Systems, Inc. has a 1-year low of $72.76 and a 1-year high of $178.72. The company’s fifty day simple moving average is $158.48 and its 200-day simple moving average is $140.09. The stock has a market capitalization of $7.50 billion, a PE ratio of 43.44 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The firm had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. During the same quarter in the previous year, the firm posted $0.30 EPS. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, research analysts anticipate that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Commvault Systems

In other news, CEO Sanjay Mirchandani sold 10,775 shares of the company’s stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary Merrill sold 1,523 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $164.89, for a total transaction of $251,127.47. Following the sale, the insider now 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 disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

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.