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

M&T Bank Corp trimmed its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 4.3% during the third quarter, Holdings Channel reports. The institutional investor owned 3,252 shares of the software maker’s stock after selling 147 shares during the period. M&T Bank Corp’s holdings in Commvault Systems were worth $500,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Intech Investment Management LLC purchased a new position in shares of Commvault Systems during the 2nd quarter worth about $2,221,000. Charles Schwab Investment Management Inc. raised its stake in Commvault Systems by 25.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after purchasing an additional 120,779 shares during the period. Summit Partners Public Asset Management LLC acquired a new position in shares of Commvault Systems in the 3rd quarter valued at $67,722,000. Vontobel Holding Ltd. purchased a new stake in shares of Commvault Systems during the 3rd quarter valued at $1,126,000. Finally, Point72 Hong Kong Ltd increased its holdings in shares of Commvault Systems by 37.9% during the 3rd quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker’s stock worth $3,603,000 after buying an additional 6,433 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Commvault Systems Trading Down 2.6 %

Shares of CVLT stock opened at $166.44 on Wednesday. The firm has a fifty day simple moving average of $162.88 and a 200-day simple moving average of $145.29. The company has a market capitalization of $7.28 billion, a PE ratio of 42.27 and a beta of 0.61. Commvault Systems, Inc. has a twelve month low of $73.33 and a twelve month high of $178.72.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data 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 net margin of 19.75% and a return on equity of 31.62%. The company had revenue of $233.28 million during the quarter, compared to analysts’ expectations of $220.76 million. During the same period in the prior year, the company posted $0.30 EPS. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. Equities research analysts predict that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Analyst Ratings Changes

CVLT has been the topic of a number of research analyst reports. DA Davidson lifted their target price on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 6th. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Oppenheimer began coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target on the stock. Guggenheim cut shares of 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 price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $151.25.

Insider Buying and Selling at Commvault Systems

In other news, Director Allison Pickens sold 1,232 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $172.50, for a total transaction of $212,520.00. Following the completion of the transaction, the director now directly owns 5,899 shares in the company, valued at approximately $1,017,577.50. This represents a 17.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction on Monday, November 18th. The stock was sold at an average price of $164.89, for a total transaction of $251,127.47. Following the completion of the sale, the insider now owns 93,007 shares of the company’s stock, valued at approximately $15,335,924.23. This trade represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,530 shares of company stock worth $2,244,755 in the last 90 days. 1.00% of the stock is owned by corporate 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.