Geode Capital Management LLC Sells 24,383 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Geode Capital Management LLC decreased its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,244,980 shares of the software maker's stock after selling 24,383 shares during the quarter. Geode Capital Management LLC owned approximately 2.85% of Commvault Systems worth $191,724,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CVLT. Wealth Enhancement Advisory Services LLC bought a new position in shares of Commvault Systems during the 2nd quarter worth about $255,000. Envestnet Portfolio Solutions Inc. bought a new stake in Commvault Systems in the 2nd quarter valued at $206,000. DT Investment Partners LLC acquired a new position in shares of Commvault Systems in the 2nd quarter valued at $69,000. New York State Teachers Retirement System lifted its holdings in shares of Commvault Systems by 13.4% during the 2nd quarter. New York State Teachers Retirement System now owns 62,063 shares of the software maker's stock worth $7,545,000 after acquiring an additional 7,318 shares during the period. Finally, EFG Asset Management North America Corp. boosted its holdings in Commvault Systems by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 21,699 shares of the software maker's stock valued at $2,637,000 after purchasing an additional 103 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

Commvault Systems Stock Performance

CVLT stock traded up $2.15 during mid-day trading on Monday, hitting $170.84. The company had a trading volume of 203,109 shares, compared to its average volume of 352,783. The firm has a market cap of $7.47 billion, a PE ratio of 43.21 and a beta of 0.61. Commvault Systems, Inc. has a 12 month low of $73.33 and a 12 month high of $178.72. The stock's fifty day moving average price is $162.52 and its two-hundred day moving average price is $144.85.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.07. The firm had revenue of $233.28 million during the quarter, compared to analysts' expectations of $220.76 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 EPS. Equities analysts anticipate that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, Director Allison Pickens sold 1,232 shares of the stock in a transaction dated 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 sale, the director now owns 5,899 shares in the company, valued at approximately $1,017,577.50. This trade represents a 17.28 % decrease in their ownership of the stock. The transaction 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 stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $164.89, for a total transaction of $251,127.47. Following the sale, the insider now directly 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 ownership of the stock. 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 three months. 1.00% of the stock is owned by corporate insiders.

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.