Jacobs Levy Equity Management Inc. Decreases Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Jacobs Levy Equity Management Inc. reduced its stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 22.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 286,571 shares of the software maker's stock after selling 80,880 shares during the period. Jacobs Levy Equity Management Inc. owned 0.66% of Commvault Systems worth $44,089,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CVLT. Comerica Bank increased its stake in Commvault Systems by 23.7% in the first quarter. Comerica Bank now owns 22,028 shares of the software maker's stock valued at $2,234,000 after purchasing an additional 4,224 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Commvault Systems by 140.5% during the second quarter. GAMMA Investing LLC now owns 529 shares of the software maker's stock worth $64,000 after acquiring an additional 309 shares during the last quarter. OLD National Bancorp IN purchased a new position in shares of Commvault Systems during the second quarter worth approximately $275,000. SG Americas Securities LLC grew its position 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 acquiring an additional 10,863 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its position in shares of Commvault Systems by 124.8% during the second quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker's stock worth $43,000 after acquiring an additional 196 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Commvault Systems Stock Performance

CVLT stock traded up $3.96 during trading on Wednesday, hitting $174.35. The stock had a trading volume of 99,539 shares, compared to its average volume of 355,471. The company's 50 day moving average price is $159.15 and its two-hundred day moving average price is $141.35. Commvault Systems, Inc. has a 1-year low of $73.33 and a 1-year high of $178.72. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of 43.14 and a beta of 0.61.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share 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 firm had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. During the same quarter in the previous year, the company posted $0.30 EPS. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. As a group, sell-side analysts forecast that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal year.

Insider Activity at Commvault Systems

In other Commvault Systems news, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $164.89, for a total value of $251,127.47. Following the completion of the sale, the insider now owns 93,007 shares in the company, valued at $15,335,924.23. The trade was a 1.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjay Mirchandani sold 10,775 shares of Commvault Systems stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $165.30, for a total value of $1,781,107.50. Following the completion of the sale, the chief executive officer now owns 459,969 shares of the company's stock, valued at $76,032,875.70. This trade represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,530 shares of company stock valued at $2,244,755. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Oppenheimer assumed coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They set an "outperform" rating and a $200.00 target price on the stock. StockNews.com lowered shares of Commvault Systems from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 1st. DA Davidson raised their target price on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Guggenheim lowered 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 lifted their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Commvault Systems has an average rating of "Moderate Buy" and an average target price of $151.25.

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.