Quest Partners LLC Decreases Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Quest Partners LLC lowered its position in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 90.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 605 shares of the software maker's stock after selling 6,071 shares during the period. Quest Partners LLC's holdings in Commvault Systems were worth $93,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Sawgrass Asset Management LLC acquired a new stake in shares of Commvault Systems in the third quarter valued at about $207,000. CIBC Asset Management Inc purchased a new stake in shares of Commvault Systems during the third quarter worth approximately $206,000. KBC Group NV raised its stake in Commvault Systems by 32.4% in the 3rd quarter. KBC Group NV now owns 1,132 shares of the software maker's stock valued at $174,000 after purchasing an additional 277 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new position in Commvault Systems in the 3rd quarter valued at $1,167,000. Finally, Versor Investments LP boosted its stake in Commvault Systems by 168.3% during the 3rd quarter. Versor Investments LP now owns 5,730 shares of the software maker's stock worth $882,000 after purchasing an additional 3,594 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Commvault Systems Stock Down 0.0 %

NASDAQ:CVLT 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 firm 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 12-month low of $72.76 and a 12-month high of $178.72. The stock has a 50 day moving average price of $158.48 and a 200 day moving average price of $140.31.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $220.76 million. During the same period in the previous year, the firm earned $0.30 EPS. Commvault Systems's revenue was up 16.1% on a year-over-year basis. Equities research analysts expect that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling

In other Commvault Systems news, CEO Sanjay Mirchandani sold 10,775 shares of the company'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 sale, the chief executive officer now owns 459,969 shares in the company, valued at $76,032,875.70. This represents a 2.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gary Merrill sold 1,523 shares of the 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 completion of the sale, the insider now directly owns 93,007 shares in the company, valued at $15,335,924.23. This 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.

Analyst Ratings Changes

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

Commvault Systems Company 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.