Algert Global LLC Sells 33,483 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Algert Global LLC lessened its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 31.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,659 shares of the software maker’s stock after selling 33,483 shares during the quarter. Algert Global LLC owned about 0.17% of Commvault Systems worth $11,332,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Xponance Inc. boosted its position in Commvault Systems by 1.3% in the second quarter. Xponance Inc. now owns 6,371 shares of the software maker’s stock worth $775,000 after purchasing an additional 79 shares during the last quarter. EFG Asset Management North America Corp. lifted its stake in shares of Commvault Systems by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 21,699 shares of the software maker’s stock worth $2,637,000 after purchasing an additional 103 shares during the period. Natixis Advisors LLC boosted its holdings in shares of Commvault Systems by 1.0% in the second quarter. Natixis Advisors LLC now owns 13,693 shares of the software maker’s stock worth $1,665,000 after buying an additional 138 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Commvault Systems by 5.4% during the second quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock valued at $328,000 after buying an additional 139 shares during the period. Finally, Parallel Advisors LLC increased its holdings in Commvault Systems by 5.9% during the second quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker’s stock valued at $334,000 after buying an additional 153 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Commvault Systems Trading Up 2.3 %

NASDAQ CVLT opened at $174.60 on Friday. Commvault Systems, Inc. has a 12 month low of $70.30 and a 12 month high of $178.29. The stock has a market cap of $7.64 billion, a PE ratio of 44.20 and a beta of 0.59. The stock’s 50 day moving average is $155.64 and its 200 day moving average is $137.42.

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

Insider Buying and Selling at Commvault Systems

In other news, insider Gary Merrill sold 17,388 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the completion of the transaction, the insider now directly owns 94,530 shares in the company, valued at approximately $14,251,342.80. This represents a 15.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction on Friday, August 30th. The stock was 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 owns 7,131 shares in the company, valued at $1,097,389.59. This represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,918 shares of company stock valued at $4,843,242 in the last 90 days. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CVLT. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Oppenheimer began coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 target price on the stock. KeyCorp upped their price target on Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Guggenheim cut Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada increased their target price on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.