Victory Capital Management Inc. Lowers Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Victory Capital Management Inc. decreased its holdings in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 32.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,875 shares of the software maker's stock after selling 58,154 shares during the period. Victory Capital Management Inc. owned 0.27% of Commvault Systems worth $18,443,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in Commvault Systems in the 3rd quarter worth approximately $33,000. National Bank of Canada FI purchased a new position in Commvault Systems during the second quarter valued at $30,000. Hexagon Capital Partners LLC increased its holdings in Commvault Systems by 124.8% in the 2nd quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker's stock valued at $43,000 after acquiring an additional 196 shares during the last quarter. Signaturefd LLC lifted its stake in Commvault Systems by 70.8% in the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker's stock worth $50,000 after purchasing an additional 170 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Commvault Systems by 140.5% during the 2nd quarter. GAMMA Investing LLC now owns 529 shares of the software maker's stock valued at $64,000 after purchasing an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on 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 research report on Wednesday, October 30th. KeyCorp increased their target price on Commvault Systems from $140.00 to $170.00 and gave the company an "overweight" rating in a research report on Wednesday, July 31st. StockNews.com cut shares of Commvault Systems from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 1st. Oppenheimer began coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They set an "outperform" rating and a $200.00 price objective for the company. Finally, DA Davidson boosted their target price on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a "buy" rating in a report on Friday, September 6th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Commvault Systems presently has a consensus rating of "Moderate Buy" and an average target price of $151.25.

Commvault Systems Trading Up 1.5 %

Shares of CVLT stock traded up $2.53 during trading hours on Tuesday, reaching $168.65. 463,924 shares of the stock were exchanged, compared to its average volume of 359,644. Commvault Systems, Inc. has a 12-month low of $69.10 and a 12-month high of $178.29. The firm has a market capitalization of $7.38 billion, a price-to-earnings ratio of 42.70 and a beta of 0.59. The company's 50-day moving average price is $154.15 and its 200-day moving average price is $136.52.

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 (EPS) for the quarter, beating the consensus estimate 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 business earned $0.30 earnings per share. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. On average, sell-side analysts expect that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the company's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.89, for a total value of $189,592.48. Following the transaction, the director now directly owns 7,131 shares in the company, valued at $1,097,389.59. This represents a 14.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the sale, the insider now directly owns 94,530 shares of the company's stock, valued at $14,251,342.80. This represents a 15.54 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

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.