Pathstone Holdings LLC Cuts Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Pathstone Holdings LLC lessened its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 2.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,230 shares of the software maker’s stock after selling 899 shares during the quarter. Pathstone Holdings LLC owned about 0.09% of Commvault Systems worth $6,343,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Lindenwold Advisors INC boosted its holdings in Commvault Systems by 2.4% in the third quarter. Lindenwold Advisors INC now owns 7,028 shares of the software maker’s stock valued at $1,081,000 after purchasing an additional 164 shares during the period. Strengthening Families & Communities LLC boosted its stake in shares of Commvault Systems by 11.2% in the 3rd quarter. Strengthening Families & Communities LLC now owns 17,791 shares of the software maker’s stock valued at $2,737,000 after buying an additional 1,791 shares during the period. Sawgrass Asset Management LLC acquired a new position in shares of Commvault Systems during the third quarter worth about $207,000. CIBC Asset Management Inc acquired a new position in shares of Commvault Systems during the third quarter worth about $206,000. Finally, KBC Group NV increased its stake in shares of Commvault Systems by 32.4% during the third quarter. KBC Group NV now owns 1,132 shares of the software maker’s stock worth $174,000 after buying an additional 277 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Commvault Systems Stock Up 2.3 %

CVLT opened at $174.60 on Friday. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of 44.20 and a beta of 0.59. The business’s 50 day moving average is $155.64 and its two-hundred day moving average is $137.42. Commvault Systems, Inc. has a 52 week low of $70.30 and a 52 week high of $178.29.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The firm had revenue of $233.28 million for the quarter, compared to analyst estimates of $220.76 million. During the same quarter last year, the company posted $0.30 earnings per share. The business’s revenue was up 16.1% on a year-over-year basis. Equities analysts expect that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CVLT. Royal Bank of Canada lifted their price target on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. DA Davidson boosted their target price on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Guggenheim cut Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Finally, Oppenheimer assumed coverage on Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $151.25.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, CEO Sanjay Mirchandani sold 10,775 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was 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 owns 459,969 shares in the company, valued at approximately $76,032,875.70. The trade was a 2.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gary Merrill sold 17,388 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total value of $2,621,414.88. Following the completion of the sale, the insider now directly owns 94,530 shares of the company’s stock, valued at $14,251,342.80. This represents a 15.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,918 shares of company stock valued at $4,843,242. 1.00% of the stock is owned by company insiders.

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.