Diversify Advisory Services LLC Cuts Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Diversify Advisory Services LLC cut its stake in Commvault Systems, Inc. (NASDAQ:CVLTFree Report) by 9.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,402 shares of the software maker’s stock after selling 145 shares during the period. Diversify Advisory Services LLC’s holdings in Commvault Systems were worth $216,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its position in shares of Commvault Systems by 25.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after buying an additional 120,779 shares in the last quarter. Summit Partners Public Asset Management LLC purchased a new stake in shares of Commvault Systems in the 3rd quarter valued at approximately $67,722,000. Vontobel Holding Ltd. acquired a new stake in shares of Commvault Systems in the 3rd quarter valued at $1,126,000. Point72 Hong Kong Ltd lifted its position in shares of Commvault Systems by 37.9% during the 3rd quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker’s stock worth $3,603,000 after purchasing an additional 6,433 shares during the last quarter. Finally, Raymond James & Associates grew its stake in shares of Commvault Systems by 58.1% during the third quarter. Raymond James & Associates now owns 15,410 shares of the software maker’s stock worth $2,371,000 after purchasing an additional 5,661 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction of $212,520.00. Following the sale, the director now directly owns 5,899 shares in the company, valued at approximately $1,017,577.50. The trade was a 17.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mirchandani sold 10,775 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the completion of the transaction, the chief executive officer now owns 459,969 shares of the company’s stock, valued at $76,032,875.70. This represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,530 shares of company stock valued at $2,244,755 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

Commvault Systems Stock Down 1.1 %

Shares of CVLT stock opened at $160.94 on Friday. Commvault Systems, Inc. has a 52-week low of $79.39 and a 52-week high of $178.72. The stock’s 50-day moving average price is $164.30 and its 200 day moving average price is $152.69. The stock has a market capitalization of $7.04 billion, a PE ratio of 40.74 and a beta of 0.65.

Commvault Systems (NASDAQ:CVLTGet Free Report) last released its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, topping 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 analysts’ expectations of $220.76 million. During the same quarter in the prior year, the business earned $0.30 earnings per share. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. Analysts expect that Commvault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CVLT shares. StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. KeyCorp began coverage on shares of Commvault Systems in a research report on Thursday, January 16th. They set an “overweight” rating and a $192.00 price objective for the company. Cantor Fitzgerald began coverage on shares of Commvault Systems in a research report on Friday, January 17th. They issued a “neutral” rating and a $159.00 target price on the stock. Finally, Royal Bank of Canada upped their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $154.56.

Check Out Our Latest Stock Report on Commvault Systems

Commvault Systems Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Commvault Systems (NASDAQ:CVLT)

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