Thrivent Financial for Lutherans Reduces Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Thrivent Financial for Lutherans trimmed its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 32.3% during the third quarter, Holdings Channel.com reports. The firm owned 79,406 shares of the software maker’s stock after selling 37,826 shares during the period. Thrivent Financial for Lutherans’ holdings in Commvault Systems were worth $12,216,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. National Bank of Canada FI purchased a new position in shares of Commvault Systems during the second quarter valued at approximately $30,000. Capital Performance Advisors LLP purchased a new position in shares of Commvault Systems during the 3rd quarter worth $33,000. Hexagon Capital Partners LLC boosted its holdings in shares of Commvault Systems by 124.8% during the second quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock worth $43,000 after purchasing an additional 196 shares during the last quarter. Signaturefd LLC grew its position in shares of Commvault Systems by 70.8% in the second quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock valued at $50,000 after purchasing an additional 170 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new position in Commvault Systems in the second quarter valued at $56,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Commvault Systems Stock Down 0.1 %

Commvault Systems stock opened at $170.75 on Friday. The firm has a market capitalization of $7.47 billion, a P/E ratio of 43.23 and a beta of 0.59. The firm has a fifty day moving average of $155.16 and a 200-day moving average of $137.19. Commvault Systems, Inc. has a 52-week low of $69.71 and a 52-week high of $178.29.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly 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. The firm had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 EPS. On average, research analysts expect that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

Insider Activity at Commvault Systems

In related news, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction 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 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 SEC, which is accessible through the SEC website. Also, insider Gary Merrill sold 17,388 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. The trade was a 15.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,918 shares of company stock worth $4,843,242. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Guggenheim lowered Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Royal Bank of Canada raised their target price on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. StockNews.com lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. KeyCorp lifted their price target on shares of Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Oppenheimer started coverage on Commvault Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective for the company. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $151.25.

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.