Ontario Teachers Pension Plan Board Reduces Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Ontario Teachers Pension Plan Board decreased its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 88.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,350 shares of the software maker's stock after selling 10,862 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Commvault Systems were worth $208,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its stake 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 valued at $1,582,000 after acquiring an additional 10,863 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Commvault Systems during the 1st quarter worth $595,000. Intech Investment Management LLC bought a new stake in Commvault Systems during the 2nd quarter valued at $2,221,000. BOKF NA lifted its holdings in shares of Commvault Systems by 55.3% in the 1st quarter. BOKF NA now owns 3,119 shares of the software maker's stock worth $313,000 after buying an additional 1,110 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Commvault Systems by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 5,531,703 shares of the software maker's stock worth $561,081,000 after buying an additional 43,333 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on CVLT shares. Royal Bank of Canada lifted their price objective on Commvault Systems from $164.00 to $182.00 and gave the company a "sector perform" rating in a report on Wednesday, October 30th. StockNews.com cut shares of Commvault Systems from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 1st. Oppenheimer assumed coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They set an "outperform" rating and a $200.00 price objective on the stock. Guggenheim downgraded shares of Commvault Systems from a "buy" rating to a "neutral" rating in a research note on Tuesday, October 15th. Finally, DA Davidson increased their target price on Commvault Systems from $170.00 to $175.00 and gave the company a "buy" rating in a research report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $151.25.

Commvault Systems Stock Performance

CVLT traded up $3.91 during trading on Friday, hitting $174.60. The stock had a trading volume of 392,001 shares, compared to its average volume of 502,513. The stock has a 50 day simple moving average of $156.18 and a two-hundred day simple moving average of $137.88. The company has a market capitalization of $7.64 billion, a PE ratio of 44.20 and a beta of 0.59. Commvault Systems, Inc. has a twelve month low of $70.30 and a twelve month high of $178.29.

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 the consensus estimate of $0.76 by $0.07. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The firm had revenue of $233.28 million during the quarter, compared to analyst estimates of $220.76 million. During the same quarter in the prior year, the business posted $0.30 EPS. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. On average, equities research analysts anticipate that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Insiders Place Their Bets

In other Commvault Systems news, CEO Sanjay Mirchandani sold 10,775 shares of the business's stock in a transaction that occurred on Monday, November 18th. The shares were 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. The trade was a 2.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Allison Pickens sold 1,232 shares of the firm'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 completion of the transaction, the director now directly owns 7,131 shares of the company's stock, valued at approximately $1,097,389.59. This represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,918 shares of company stock valued at $4,843,242. 1.00% of the stock is currently 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.