Clearbridge Investments LLC Has $12.89 Million Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Clearbridge Investments LLC reduced its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 21.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,010 shares of the software maker’s stock after selling 28,523 shares during the period. Clearbridge Investments LLC’s holdings in Commvault Systems were worth $12,888,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CVLT. UBS Group AG boosted its position in shares of Commvault Systems by 71.3% in the fourth quarter. UBS Group AG now owns 77,424 shares of the software maker’s stock valued at $6,182,000 after acquiring an additional 32,217 shares during the period. Seven Eight Capital LP bought a new stake in shares of Commvault Systems in the fourth quarter valued at about $583,000. Virtu Financial LLC bought a new stake in shares of Commvault Systems in the fourth quarter valued at about $389,000. Vanguard Group Inc. boosted its position in shares of Commvault Systems by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,488,370 shares of the software maker’s stock valued at $438,246,000 after acquiring an additional 61,556 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Commvault Systems in the fourth quarter valued at about $3,092,000. Institutional investors own 93.50% of the company’s stock.

Commvault Systems Stock Up 1.6 %

Shares of Commvault Systems stock opened at $153.19 on Friday. The firm’s 50-day moving average price is $148.71 and its two-hundred day moving average price is $123.55. Commvault Systems, Inc. has a 12-month low of $63.70 and a 12-month high of $157.13. The company has a market capitalization of $6.70 billion, a price-to-earnings ratio of 40.74 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.12. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The company had revenue of $224.67 million for the quarter, compared to the consensus estimate of $215.54 million. During the same period last year, the company posted $0.29 EPS. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, sell-side analysts expect that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

Insider Activity

In other news, insider Gary Merrill sold 17,388 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total value of $2,621,414.88. Following the sale, the insider now directly owns 94,530 shares in the company, valued at approximately $14,251,342.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.89, for a total transaction of $189,592.48. Following the sale, the director now directly owns 7,131 shares in the company, valued at $1,097,389.59. This trade represents a 0.00 % 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 17,388 shares of Commvault Systems stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the sale, the insider now owns 94,530 shares in the company, valued at approximately $14,251,342.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. DA Davidson boosted their target price on shares of Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Guggenheim reaffirmed a “buy” rating and set a $122.00 price objective on shares of Commvault Systems in a research report on Tuesday, June 25th. Royal Bank of Canada increased their price objective on shares of Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 31st. StockNews.com downgraded shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 31st. Finally, Piper Sandler increased their price objective on shares of Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $140.00.

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.