Dimensional Fund Advisors LP Reduces Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Dimensional Fund Advisors LP cut its holdings in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 7.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 579,778 shares of the software maker's stock after selling 44,978 shares during the quarter. Dimensional Fund Advisors LP owned 1.32% of Commvault Systems worth $87,496,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Commvault Systems by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 5,636,559 shares of the software maker's stock worth $850,613,000 after acquiring an additional 54,562 shares during the period. Renaissance Technologies LLC raised its position in shares of Commvault Systems by 1.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,909,185 shares of the software maker's stock worth $288,115,000 after purchasing an additional 24,900 shares during the last quarter. Invesco Ltd. raised its position in shares of Commvault Systems by 57.7% during the 4th quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker's stock worth $250,527,000 after purchasing an additional 607,643 shares during the last quarter. Geode Capital Management LLC lifted its stake in Commvault Systems by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 1,288,068 shares of the software maker's stock valued at $194,681,000 after buying an additional 43,088 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Commvault Systems by 604.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker's stock worth $98,479,000 after buying an additional 555,656 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CVLT shares. StockNews.com upgraded Commvault Systems from a "hold" rating to a "buy" rating in a research report on Thursday. KeyCorp dropped their target price on shares of Commvault Systems from $195.00 to $185.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Cantor Fitzgerald boosted their price target on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. Piper Sandler cut their price objective on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, Wells Fargo & Company boosted their target price on Commvault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $175.25.

Insider Buying and Selling at Commvault Systems

In related news, insider Gary Merrill sold 3,287 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $614,471.78. Following the completion of the transaction, the insider now owns 87,316 shares in the company, valued at approximately $16,322,853.04. The trade was a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total value of $2,290,655.28. Following the sale, the chief executive officer now directly owns 427,231 shares in the company, valued at $79,447,876.76. This trade represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Commvault Systems Price Performance

Shares of NASDAQ CVLT traded up $1.72 during midday trading on Monday, hitting $174.27. The company's stock had a trading volume of 51,444 shares, compared to its average volume of 412,621. Commvault Systems, Inc. has a 1 year low of $105.76 and a 1 year high of $190.11. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of 45.77 and a beta of 0.68. The business's fifty day simple moving average is $158.48 and its two-hundred day simple moving average is $162.19.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.10. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. The company had revenue of $275.04 million for the quarter, compared to analyst estimates of $262.52 million. During the same quarter last year, the company earned $0.79 EPS. Commvault Systems's revenue for the quarter was up 23.2% compared to the same quarter last year. Analysts anticipate that Commvault Systems, Inc. will post 1.65 EPS for the current fiscal year.

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.