Thrivent Financial for Lutherans Sells 37,826 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Thrivent Financial for Lutherans reduced its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 32.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,406 shares of the software maker's stock after selling 37,826 shares during the period. Thrivent Financial for Lutherans owned 0.18% of Commvault Systems worth $12,216,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. AQR Capital Management LLC raised its position in shares of Commvault Systems by 33.5% during the second quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker's stock worth $78,882,000 after purchasing an additional 162,722 shares during the period. Renaissance Technologies LLC grew its holdings 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 buying an additional 126,800 shares during the last quarter. Congress Asset Management Co. increased its position in shares of Commvault Systems by 29.4% during the third quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker's stock worth $75,719,000 after acquiring an additional 111,715 shares in the last quarter. M&G Plc bought a new position in Commvault Systems in the 2nd quarter valued at about $10,265,000. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Commvault Systems by 247.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 110,567 shares of the software maker's stock valued at $11,205,000 after purchasing an additional 78,713 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Commvault Systems Price Performance

Shares of NASDAQ:CVLT traded up $3.91 during trading on Friday, hitting $174.60. 391,998 shares of the company were exchanged, compared to its average volume of 359,138. The company has a market cap of $7.64 billion, a PE ratio of 43.61 and a beta of 0.59. Commvault Systems, Inc. has a 52-week low of $70.30 and a 52-week high of $178.29. The stock has a 50 day moving average of $155.64 and a 200 day moving average of $137.42.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last posted its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.07. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The business had revenue of $233.28 million during the quarter, compared to analyst estimates of $220.76 million. During the same quarter in the previous year, the firm earned $0.30 EPS. The company's quarterly revenue was up 16.1% compared to the same quarter last year. Sell-side analysts forecast that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the business's stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.89, for a total value of $189,592.48. Following the completion of the transaction, the director now owns 7,131 shares of the company's stock, valued at $1,097,389.59. The trade was a 14.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction on Monday, November 18th. The stock was sold at an average price of $164.89, for a total transaction of $251,127.47. Following the sale, the insider now directly owns 93,007 shares of the company's stock, valued at $15,335,924.23. This represents a 1.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,918 shares of company stock valued at $4,843,242. Company insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

CVLT has been the subject of a number of analyst reports. Guggenheim lowered Commvault Systems from a "buy" rating to a "neutral" rating in a research report on Tuesday, October 15th. Oppenheimer initiated coverage on Commvault Systems in a report on Wednesday, November 13th. They set an "outperform" rating and a $200.00 price target on the stock. Royal Bank of Canada raised their target price 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. KeyCorp boosted their price target on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an "overweight" rating in a report on Wednesday, July 31st. Finally, DA Davidson lifted their price objective 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. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Commvault Systems presently 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.