Goldman Sachs Group Inc. Sells 70,938 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Goldman Sachs Group Inc. lessened its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 22.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 241,171 shares of the software maker’s stock after selling 70,938 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Commvault Systems were worth $19,258,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in Commvault Systems during the 4th quarter valued at $67,000. PNC Financial Services Group Inc. raised its stake in shares of Commvault Systems by 28.5% during the third quarter. PNC Financial Services Group Inc. now owns 1,429 shares of the software maker’s stock valued at $97,000 after acquiring an additional 317 shares during the last quarter. Vise Technologies Inc. purchased a new stake in shares of Commvault Systems during the fourth quarter worth about $212,000. Teza Capital Management LLC bought a new stake in shares of Commvault Systems in the third quarter worth about $253,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in Commvault Systems during the 4th quarter valued at about $280,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CVLT. Royal Bank of Canada increased their price objective on Commvault Systems from $97.00 to $112.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 1st. KeyCorp boosted their price objective on shares of Commvault Systems from $109.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Guggenheim reaffirmed a “buy” rating and issued a $122.00 target price on shares of Commvault Systems in a research report on Tuesday. DA Davidson boosted their price target on shares of Commvault Systems from $125.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Finally, Lake Street Capital raised their price objective on shares of Commvault Systems from $86.00 to $98.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.50.

Insiders Place Their Bets

In related news, CEO Sanjay Mirchandani sold 15,975 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $110.20, for a total transaction of $1,760,445.00. Following the completion of the sale, the chief executive officer now owns 539,465 shares of the company’s stock, valued at $59,449,043. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Gary Merrill sold 6,040 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $110.20, for a total transaction of $665,608.00. Following the sale, the chief financial officer now owns 128,207 shares of the company’s stock, valued at approximately $14,128,411.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mirchandani sold 15,975 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $110.20, for a total transaction of $1,760,445.00. Following the transaction, the chief executive officer now owns 539,465 shares in the company, valued at approximately $59,449,043. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,816 shares of company stock valued at $6,613,874. Insiders own 1.00% of the company’s stock.

Commvault Systems Price Performance

Shares of NASDAQ CVLT opened at $118.63 on Thursday. Commvault Systems, Inc. has a 1 year low of $63.70 and a 1 year high of $121.50. The firm has a 50-day moving average of $109.61 and a 200 day moving average of $96.56. The stock has a market cap of $5.15 billion, a P/E ratio of 31.55 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, April 30th. The software maker reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.10. Commvault Systems had a net margin of 20.13% and a return on equity of 31.27%. The firm had revenue of $223.29 million during the quarter, compared to analyst estimates of $213.00 million. Research analysts expect that Commvault Systems, Inc. will post 1.7 earnings per share for the current fiscal year.

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.