Algert Global LLC Trims Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Algert Global LLC decreased its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 31.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 73,659 shares of the software maker’s stock after selling 33,483 shares during the period. Algert Global LLC’s holdings in Commvault Systems were worth $11,332,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in Commvault Systems in the 3rd quarter valued at $33,000. National Bank of Canada FI bought a new position in shares of Commvault Systems in the second quarter worth about $30,000. Hexagon Capital Partners LLC increased its stake in Commvault Systems by 124.8% in the 2nd quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock worth $43,000 after buying an additional 196 shares during the period. Signaturefd LLC increased its stake in Commvault Systems by 70.8% in the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after buying an additional 170 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Commvault Systems by 140.5% during the 2nd quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock valued at $64,000 after buying an additional 309 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Commvault Systems Trading Up 2.3 %

Shares of CVLT opened at $174.60 on Friday. The firm has a market cap of $7.64 billion, a P/E ratio of 44.20 and a beta of 0.59. Commvault Systems, Inc. has a 12 month low of $70.30 and a 12 month high of $178.29. The stock’s 50 day moving average is $155.64 and its two-hundred day moving average is $137.42.

Commvault Systems (NASDAQ:CVLT) last posted 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 business had revenue of $233.28 million for the quarter, compared to the consensus estimate 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 was up 16.1% compared to the same quarter last year. During the same period last year, the firm posted $0.30 earnings per share. Equities research analysts forecast that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. KeyCorp upped their target price on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Oppenheimer began coverage on Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price objective on the stock. StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Guggenheim cut shares of Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Finally, Royal Bank of Canada raised 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. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $151.25.

Insiders Place Their Bets

In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total value of $2,621,414.88. Following the transaction, the insider now owns 94,530 shares in the company, valued at approximately $14,251,342.80. This trade represents a 15.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Allison Pickens sold 1,232 shares of the company’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 sale, the director now directly owns 7,131 shares of the company’s stock, valued at $1,097,389.59. The trade was a 14.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 30,918 shares of company stock worth $4,843,242. Corporate 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.