JPMorgan Chase & Co. Sells 13,162 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

JPMorgan Chase & Co. cut its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 4.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 266,831 shares of the software maker’s stock after selling 13,162 shares during the period. JPMorgan Chase & Co.’s holdings in Commvault Systems were worth $41,052,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in shares of Commvault Systems during the third quarter worth $33,000. National Bank of Canada FI purchased a new position in Commvault Systems during the 2nd quarter valued at about $30,000. Point72 DIFC Ltd purchased a new stake in shares of Commvault Systems in the third quarter worth about $71,000. Signaturefd LLC grew its stake in Commvault Systems by 43.9% during the third quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock valued at $91,000 after acquiring an additional 180 shares in the last quarter. Finally, TD Private Client Wealth LLC bought a new stake in Commvault Systems during the 3rd quarter worth approximately $105,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Commvault Systems Stock Performance

CVLT stock opened at $158.56 on Monday. The company has a market capitalization of $6.93 billion, a PE ratio of 40.14 and a beta of 0.65. Commvault Systems, Inc. has a one year low of $73.33 and a one year high of $178.72. The company’s 50 day moving average price is $165.49 and its two-hundred day moving average price is $149.23.

Commvault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, topping 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 company had revenue of $233.28 million for the quarter, compared to analysts’ expectations of $220.76 million. During the same quarter last year, the company earned $0.30 EPS. The firm’s revenue was up 16.1% compared to the same quarter last year. On average, research analysts predict that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Insider Activity

In other Commvault Systems news, CEO Sanjay Mirchandani sold 10,775 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $165.30, for a total value of $1,781,107.50. Following the sale, the chief executive officer now owns 459,969 shares of the company’s stock, valued at $76,032,875.70. This trade represents a 2.29 % 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, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction of $212,520.00. Following the transaction, the director now directly owns 5,899 shares of the company’s stock, valued at approximately $1,017,577.50. This trade represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,530 shares of company stock valued at $2,244,755. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CVLT. Royal Bank of Canada boosted their price target on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. StockNews.com upgraded shares of Commvault Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 31st. Finally, Oppenheimer started coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $151.25.

Commvault Systems 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.