Martingale Asset Management L P Sells 5,598 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Martingale Asset Management L P trimmed its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 19.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,824 shares of the software maker's stock after selling 5,598 shares during the period. Martingale Asset Management L P owned approximately 0.05% of Commvault Systems worth $3,665,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CVLT. Renaissance Technologies LLC increased its position in shares of Commvault Systems by 7.5% during the second quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker's stock valued at $220,466,000 after purchasing an additional 126,800 shares during the period. Acadian Asset Management LLC boosted its stake in Commvault Systems by 0.3% during the second quarter. Acadian Asset Management LLC now owns 1,601,057 shares of the software maker's stock worth $194,606,000 after buying an additional 4,422 shares in the last quarter. AQR Capital Management LLC increased its holdings in Commvault Systems by 33.5% in the 2nd quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker's stock valued at $78,882,000 after buying an additional 162,722 shares during the period. Charles Schwab Investment Management Inc. raised 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 valued at $90,278,000 after buying an additional 120,779 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Commvault Systems by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 523,474 shares of the software maker's stock valued at $63,637,000 after buying an additional 2,633 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Commvault Systems Stock Performance

Commvault Systems stock traded down $0.04 on Friday, reaching $171.59. The company's stock had a trading volume of 144,938 shares, compared to its average volume of 357,616. The business's fifty day moving average price is $158.48 and its 200 day moving average price is $140.09. The company has a market cap of $7.50 billion, a price-to-earnings ratio of 43.44 and a beta of 0.59. Commvault Systems, Inc. has a twelve month low of $72.76 and a twelve month high of $178.72.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. The business 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%. The firm's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. As a group, equities analysts forecast that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

Insider Activity

In other Commvault Systems news, CEO Sanjay Mirchandani sold 10,775 shares of the business's 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 completion of the sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gary Merrill sold 1,523 shares of the firm's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $164.89, for a total transaction of $251,127.47. Following the completion of the transaction, the insider now directly owns 93,007 shares in the company, valued at $15,335,924.23. This trade represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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