Abacus FCF Advisors LLC Sells 2,956 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Abacus FCF Advisors LLC lessened its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,024 shares of the software maker's stock after selling 2,956 shares during the quarter. Abacus FCF Advisors LLC owned about 0.06% of Commvault Systems worth $4,106,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in CVLT. Vanguard Group Inc. boosted 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 purchasing an additional 54,562 shares during the period. Renaissance Technologies LLC raised its position in shares of Commvault Systems by 1.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,909,185 shares of the software maker's stock valued at $288,115,000 after purchasing an additional 24,900 shares during the period. Invesco Ltd. lifted its stake in shares of Commvault Systems by 57.7% in the fourth quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker's stock worth $250,527,000 after buying an additional 607,643 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Commvault Systems by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 1,288,068 shares of the software maker's stock worth $194,681,000 after buying an additional 43,088 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Commvault Systems by 9.8% during the 4th quarter. Northern Trust Corp now owns 651,973 shares of the software maker's stock worth $98,389,000 after buying an additional 58,239 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on CVLT. Royal Bank of Canada lifted their target price on shares of Commvault Systems from $175.00 to $185.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 30th. Oppenheimer lifted their price objective on Commvault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. DA Davidson boosted their price objective on Commvault Systems from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Guggenheim restated a "neutral" rating on shares of Commvault Systems in a research note on Wednesday, April 23rd. Finally, KeyCorp cut their price target on Commvault Systems from $195.00 to $185.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Commvault Systems currently has an average rating of "Moderate Buy" and an average target price of $175.25.

Insider Buying and Selling

In other Commvault Systems news, CEO Sanjay Mirchandani sold 1,709 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $299,075.00. Following the completion of the transaction, the chief executive officer now directly owns 469,648 shares of the company's stock, valued at approximately $82,188,400. The trade was a 0.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nicola Adamo sold 1,500 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $169.74, for a total value of $254,610.00. Following the sale, the director now directly owns 16,178 shares in the company, valued at approximately $2,746,053.72. This represents a 8.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,957 shares of company stock valued at $859,428 over the last three months. Company insiders own 1.00% of the company's stock.

Commvault Systems Price Performance

Shares of CVLT stock traded up $2.13 during trading hours on Wednesday, reaching $189.29. 85,582 shares of the company were exchanged, compared to its average volume of 423,681. Commvault Systems, Inc. has a fifty-two week low of $112.58 and a fifty-two week high of $191.76. The stock's fifty day moving average is $167.95 and its two-hundred day moving average is $165.95. The company has a market cap of $8.35 billion, a price-to-earnings ratio of 49.66 and a beta of 0.75.

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