Glenmede Trust Co. NA Trims Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Glenmede Trust Co. NA trimmed its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 38.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 140,354 shares of the software maker's stock after selling 86,949 shares during the quarter. Glenmede Trust Co. NA owned about 0.32% of Commvault Systems worth $21,593,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. SG Americas Securities LLC lifted its holdings in shares of Commvault Systems by 504.6% during the second quarter. SG Americas Securities LLC now owns 13,016 shares of the software maker's stock worth $1,582,000 after purchasing an additional 10,863 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Commvault Systems in the 2nd quarter worth $2,221,000. Charles Schwab Investment Management Inc. lifted 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 worth $90,278,000 after acquiring an additional 120,779 shares during the period. Ellsworth Advisors LLC purchased a new stake in shares of Commvault Systems in the second quarter valued at about $495,000. Finally, Vontobel Holding Ltd. acquired a new position in shares of Commvault Systems during the third quarter worth about $1,126,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Commvault Systems

In other Commvault Systems news, 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 value of $251,127.47. Following the transaction, the insider now directly owns 93,007 shares in the company, valued at approximately $15,335,924.23. This represents a 1.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjay Mirchandani sold 10,775 shares of Commvault Systems stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the sale, the chief executive officer now owns 459,969 shares of the company's stock, valued at approximately $76,032,875.70. This trade represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,530 shares of company stock valued at $2,221,827 in the last ninety days. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

CVLT has been the subject of a number of recent analyst reports. DA Davidson raised their price objective on shares of Commvault Systems from $170.00 to $175.00 and gave the company a "buy" rating in a research report on Friday, September 6th. KeyCorp raised their price target on Commvault Systems from $140.00 to $170.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Oppenheimer initiated coverage on Commvault Systems in a report on Wednesday, November 13th. They set an "outperform" rating and a $200.00 price objective on the stock. Guggenheim downgraded Commvault Systems from a "buy" rating to a "neutral" rating in a report on Tuesday, October 15th. Finally, StockNews.com cut shares of 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $151.25.

Commvault Systems Price Performance

Commvault Systems stock traded down $5.97 during trading hours on Thursday, hitting $171.63. The stock had a trading volume of 253,712 shares, compared to its average volume of 358,540. The stock has a market capitalization of $7.51 billion, a price-to-earnings ratio of 43.45 and a beta of 0.59. Commvault Systems, Inc. has a 1-year low of $72.20 and a 1-year high of $178.72. The stock's fifty day moving average is $158.09 and its two-hundred day moving average is $139.65.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, beating analysts' consensus estimates 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 firm's revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.30 EPS. As a group, sell-side analysts anticipate that Commvault Systems, Inc. will post 1.66 EPS for the current year.

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.