Raymond James & Associates Reduces Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Raymond James & Associates reduced its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 5.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,054 shares of the software maker’s stock after selling 589 shares during the period. Raymond James & Associates’ holdings in Commvault Systems were worth $803,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in shares of Commvault Systems by 28.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,429 shares of the software maker’s stock worth $97,000 after buying an additional 317 shares in the last quarter. Teza Capital Management LLC purchased a new position in shares of Commvault Systems in the 3rd quarter worth $253,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Commvault Systems in the 3rd quarter worth $269,000. CenterBook Partners LP purchased a new position in shares of Commvault Systems in the 3rd quarter worth $272,000. Finally, Duality Advisers LP purchased a new position in shares of Commvault Systems in the 3rd quarter worth $273,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Commvault Systems

In related news, CFO Gary Merrill sold 822 shares of Commvault Systems stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $97.25, for a total transaction of $79,939.50. Following the completion of the sale, the chief financial officer now owns 87,945 shares in the company, valued at approximately $8,552,651.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Gary Merrill sold 822 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $97.25, for a total value of $79,939.50. Following the completion of the sale, the chief financial officer now owns 87,945 shares in the company, valued at approximately $8,552,651.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Allison Pickens sold 990 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $94.73, for a total transaction of $93,782.70. Following the completion of the sale, the director now owns 7,206 shares of the company’s stock, valued at approximately $682,624.38. The disclosure for this sale can be found here. Insiders sold 23,306 shares of company stock worth $2,276,265 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

Commvault Systems Price Performance

Shares of CVLT opened at $95.54 on Tuesday. Commvault Systems, Inc. has a 1-year low of $56.76 and a 1-year high of $102.21. The company has a 50-day moving average of $97.18 and a 200 day moving average of $83.17. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of -3,183.61 and a beta of 0.62.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. Commvault Systems had a negative net margin of 0.09% and a positive return on equity of 32.27%. The company had revenue of $216.81 million during the quarter, compared to analyst estimates of $208.01 million. During the same quarter last year, the business posted $0.17 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities analysts anticipate that Commvault Systems, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CVLT shares. KeyCorp raised shares of Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 price target for the company in a research note on Wednesday, January 31st. Royal Bank of Canada lifted their price target on shares of Commvault Systems from $86.00 to $97.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 31st. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.60.

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.