Commvault Systems, Inc. (NASDAQ:CVLT) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,252 shares of the software maker’s stock after selling 147 shares during the quarter. M&T Bank Corp’s holdings in Commvault Systems were worth $500,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Intech Investment Management LLC acquired a new position in Commvault Systems in the 2nd quarter valued at about $2,221,000. Charles Schwab Investment Management Inc. grew its stake in shares of Commvault Systems by 25.9% in the 3rd 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 during the last quarter. Summit Partners Public Asset Management LLC acquired a new position in shares of Commvault Systems in the third quarter valued at approximately $67,722,000. Vontobel Holding Ltd. purchased a new stake in shares of Commvault Systems during the third quarter worth approximately $1,126,000. Finally, Point72 Hong Kong Ltd lifted its holdings in shares of Commvault Systems by 37.9% during the third quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker’s stock worth $3,603,000 after purchasing an additional 6,433 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Commvault Systems Price Performance

NASDAQ CVLT opened at $166.44 on Wednesday. The business has a 50 day moving average price of $162.88 and a 200 day moving average price of $145.29. The company has a market capitalization of $7.28 billion, a P/E ratio of 42.27 and a beta of 0.61. Commvault Systems, Inc. has a 1-year low of $73.33 and a 1-year high of $178.72.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, beating 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 business had revenue of $233.28 million during the quarter, compared to analysts’ expectations of $220.76 million. During the same quarter last year, the business posted $0.30 earnings per share. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, research analysts expect that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on CVLT. Oppenheimer initiated coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective for the company. Royal Bank of Canada increased their price target 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. DA Davidson lifted their price objective on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 6th. Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Finally, StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $151.25.

Insiders Place Their Bets

In related news, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $172.50, for a total value of $212,520.00. Following the completion of the transaction, the director now owns 5,899 shares of the company’s stock, valued at approximately $1,017,577.50. The trade was a 17.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 completion of the transaction, the insider now owns 93,007 shares in the company, valued at approximately $15,335,924.23. This trade represents a 1.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,530 shares of company stock worth $2,244,755. Insiders own 1.00% of the company’s stock.

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.