Emerald Mutual Fund Advisers Trust Sells 19,040 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Emerald Mutual Fund Advisers Trust trimmed its stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 36.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,638 shares of the software maker's stock after selling 19,040 shares during the quarter. Emerald Mutual Fund Advisers Trust owned approximately 0.07% of Commvault Systems worth $4,925,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hancock Whitney Corp lifted its stake in shares of Commvault Systems by 1.0% during the 4th quarter. Hancock Whitney Corp now owns 5,781 shares of the software maker's stock valued at $872,000 after buying an additional 60 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Commvault Systems by 3.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker's stock valued at $296,000 after buying an additional 66 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of Commvault Systems by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker's stock valued at $213,000 after buying an additional 75 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Commvault Systems by 4.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,439 shares of the software maker's stock valued at $368,000 after buying an additional 93 shares in the last quarter. Finally, Mariner LLC lifted its stake in shares of Commvault Systems by 3.7% during the 4th quarter. Mariner LLC now owns 3,310 shares of the software maker's stock valued at $500,000 after buying an additional 118 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Commvault Systems Stock Performance

Shares of CVLT stock traded down $1.11 on Thursday, hitting $166.02. 516,692 shares of the company's stock traded hands, compared to its average volume of 414,203. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of 43.57 and a beta of 0.68. The company's fifty day simple moving average is $158.49 and its 200 day simple moving average is $161.76. Commvault Systems, Inc. has a one year low of $102.73 and a one year high of $190.11.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, topping the consensus estimate of $0.93 by $0.10. The firm had revenue of $275.04 million for the quarter, compared to the consensus estimate of $262.52 million. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. The company's quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.79 earnings per share. As a group, sell-side analysts anticipate that Commvault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CVLT. Royal Bank of Canada upped their price target on shares of Commvault Systems from $175.00 to $185.00 and gave the company a "sector perform" rating in a research note on Wednesday. StockNews.com upgraded shares of Commvault Systems from a "hold" rating to a "buy" rating in a research note on Thursday. DA Davidson increased their target price on shares of Commvault Systems from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday. Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a research note on Wednesday, April 23rd. Finally, Piper Sandler lowered their target price on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Commvault Systems presently has an average rating of "Moderate Buy" and a consensus price target of $166.67.

Insider Activity at Commvault Systems

In related news, CEO Sanjay Mirchandani sold 12,318 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the transaction, the chief executive officer now owns 427,231 shares in the company, valued at $79,447,876.76. The trade was a 2.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total value of $614,471.78. Following the sale, the insider now directly 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 disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

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.