Jacobs Levy Equity Management Inc. Sells 80,880 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Jacobs Levy Equity Management Inc. lessened its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 22.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 286,571 shares of the software maker’s stock after selling 80,880 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.66% of Commvault Systems worth $44,089,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Xponance Inc. raised its position in shares of Commvault Systems by 1.3% during the second quarter. Xponance Inc. now owns 6,371 shares of the software maker’s stock valued at $775,000 after buying an additional 79 shares during the last quarter. EFG Asset Management North America Corp. lifted its stake in Commvault Systems by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 21,699 shares of the software maker’s stock worth $2,637,000 after purchasing an additional 103 shares in the last quarter. Natixis Advisors LLC boosted its holdings in shares of Commvault Systems by 1.0% during the 2nd quarter. Natixis Advisors LLC now owns 13,693 shares of the software maker’s stock valued at $1,665,000 after purchasing an additional 138 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of Commvault Systems by 5.4% during the second quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock valued at $328,000 after purchasing an additional 139 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of Commvault Systems by 5.9% in the second quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker’s stock worth $334,000 after purchasing an additional 153 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CVLT. StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Royal Bank of Canada boosted their price target 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. 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 investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Commvault Systems presently has an average rating of “Moderate Buy” and an average price target of $151.25.

Insider Buying and Selling

In related news, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $172.50, for a total value of $212,520.00. Following the transaction, the director now owns 5,899 shares of the company’s stock, valued at $1,017,577.50. This trade represents a 17.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sanjay Mirchandani sold 10,775 shares of the business’s 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 sale, the chief executive officer now directly owns 459,969 shares of the company’s stock, valued at approximately $76,032,875.70. This trade represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 13,530 shares of company stock valued at $2,244,755. Insiders own 1.00% of the company’s stock.

Commvault Systems Trading Down 0.3 %

Shares of CVLT opened at $170.39 on Wednesday. Commvault Systems, Inc. has a twelve month low of $73.33 and a twelve month high of $178.72. The company’s fifty day simple moving average is $159.15 and its 200-day simple moving average is $141.35. The company has a market cap of $7.45 billion, a P/E ratio of 43.14 and a beta of 0.61.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The business had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. During the same quarter last year, the firm earned $0.30 earnings per share. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. Analysts predict that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal year.

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.