Commvault Systems, Inc. (NASDAQ:CVLT) Shares Sold by Inspire Investing LLC

Inspire Investing LLC trimmed its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 17.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,466 shares of the software maker’s stock after selling 3,917 shares during the period. Inspire Investing LLC’s holdings in Commvault Systems were worth $2,787,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CVLT. Summit Partners Public Asset Management LLC acquired a new stake in shares of Commvault Systems during the 3rd quarter worth approximately $67,722,000. AQR Capital Management LLC boosted its holdings in Commvault Systems by 33.5% during the second quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock worth $78,882,000 after buying an additional 162,722 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position 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 valued at $90,278,000 after buying an additional 120,779 shares during the period. Congress Asset Management Co. increased its holdings in Commvault Systems by 29.4% in the third quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker’s stock valued at $75,719,000 after buying an additional 111,715 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Commvault Systems in the third quarter worth about $15,264,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Commvault Systems Price Performance

Shares of NASDAQ CVLT opened at $162.80 on Thursday. Commvault Systems, Inc. has a 1 year low of $79.39 and a 1 year high of $178.72. The company has a market capitalization of $7.12 billion, a price-to-earnings ratio of 41.22 and a beta of 0.65. The business has a 50-day moving average of $164.57 and a two-hundred day moving average of $152.62.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $220.76 million. During the same period in the prior year, the firm posted $0.30 earnings per share. The firm’s revenue was up 16.1% on a year-over-year basis. As a group, equities research analysts expect that Commvault Systems, Inc. will post 1.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. KeyCorp started coverage on shares of Commvault Systems in a research report on Thursday, January 16th. They set an “overweight” rating and a $192.00 price objective for the company. Cantor Fitzgerald assumed coverage on shares of Commvault Systems in a report on Friday, January 17th. They set a “neutral” rating and a $159.00 price target for the company. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Finally, Oppenheimer initiated coverage on Commvault Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price objective for the company. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $154.56.

Insider Activity at Commvault Systems

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

About Commvault Systems

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.