Commvault Systems, Inc. (NASDAQ:CVLT) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its holdings in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 4.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 266,831 shares of the software maker's stock after selling 13,162 shares during the period. JPMorgan Chase & Co. owned about 0.61% of Commvault Systems worth $41,052,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CVLT. Charles Schwab Investment Management Inc. increased its holdings in Commvault Systems by 25.9% in 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 last quarter. Intech Investment Management LLC acquired a new stake in shares of Commvault Systems during the 2nd quarter valued at approximately $2,221,000. Summit Partners Public Asset Management LLC bought a new position in Commvault Systems during the third quarter worth $67,722,000. Vontobel Holding Ltd. acquired a new position in Commvault Systems in the third quarter worth $1,126,000. Finally, Point72 Hong Kong Ltd boosted its holdings in Commvault Systems by 37.9% in the third quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker's stock worth $3,603,000 after purchasing an additional 6,433 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Commvault Systems news, insider Gary Merrill sold 1,523 shares of the business'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 sale, the insider now directly owns 93,007 shares in the company, valued at approximately $15,335,924.23. The trade was a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of the firm's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction of $212,520.00. Following the transaction, 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 13,530 shares of company stock worth $2,244,755 over the last ninety days. Company insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CVLT shares. Royal Bank of Canada raised their price target on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 30th. Oppenheimer initiated coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They issued an "outperform" rating and a $200.00 target price on the stock. Guggenheim lowered Commvault Systems from a "buy" rating to a "neutral" rating in a report on Tuesday, October 15th. Finally, StockNews.com raised Commvault Systems from a "buy" rating to a "strong-buy" rating in a report on Tuesday, December 31st. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $151.25.

Commvault Systems Price Performance

Shares of NASDAQ CVLT traded up $2.12 during midday trading on Monday, reaching $160.68. 365,306 shares of the company traded hands, compared to its average volume of 347,669. The company has a market cap of $7.03 billion, a price-to-earnings ratio of 40.68 and a beta of 0.65. The stock has a 50-day moving average price of $165.96 and a 200 day moving average price of $149.75. Commvault Systems, Inc. has a 52 week low of $73.85 and a 52 week high of $178.72.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.07. The company had revenue of $233.28 million for the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. Commvault Systems's revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 EPS. As a group, analysts expect 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.