Charles Schwab Investment Management Inc. Sells 18,269 Shares of CommVault Systems, Inc. (NASDAQ:CVLT)

Charles Schwab Investment Management Inc. lowered its holdings in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 558,197 shares of the software maker's stock after selling 18,269 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.27% of CommVault Systems worth $88,061,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CVLT. SBI Securities Co. Ltd. raised its position in shares of CommVault Systems by 101.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 159 shares of the software maker's stock worth $25,000 after acquiring an additional 80 shares in the last quarter. Quarry LP grew its stake in CommVault Systems by 888.2% in the fourth quarter. Quarry LP now owns 168 shares of the software maker's stock worth $25,000 after purchasing an additional 151 shares during the period. Cullen Frost Bankers Inc. bought a new position in CommVault Systems in the first quarter worth $27,000. Whipplewood Advisors LLC lifted its position in CommVault Systems by 584.0% during the first quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker's stock valued at $27,000 after buying an additional 146 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of CommVault Systems by 208.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 185 shares of the software maker's stock valued at $29,000 after buying an additional 125 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on CVLT shares. Oppenheimer increased their price target on shares of CommVault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. KeyCorp upped their price objective on shares of CommVault Systems from $195.00 to $225.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Royal Bank Of Canada boosted their target price on CommVault Systems from $185.00 to $217.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 30th. DA Davidson boosted their price objective on shares of CommVault Systems from $200.00 to $220.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, Guggenheim set a $220.00 price target on CommVault Systems in a report on Tuesday, July 29th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, CommVault Systems currently has an average rating of "Moderate Buy" and an average price target of $205.63.

CommVault Systems Stock Down 1.8%

NASDAQ:CVLT traded down $3.33 during mid-day trading on Friday, hitting $180.02. 326,962 shares of the company traded hands, compared to its average volume of 496,633. The stock's fifty day moving average price is $177.98 and its 200-day moving average price is $170.52. CommVault Systems, Inc. has a one year low of $128.07 and a one year high of $200.68. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of 100.01 and a beta of 0.70.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The software maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.04. CommVault Systems had a return on equity of 30.83% and a net margin of 7.70%. The company had revenue of $281.98 million during the quarter, compared to the consensus estimate of $267.83 million. The firm's revenue for the quarter was up 26% on a year-over-year basis. Equities analysts predict that CommVault Systems, Inc. will post 1.65 EPS for the current year.

Insiders Place Their Bets

In other CommVault Systems news, CEO Sanjay Mirchandani sold 1,709 shares of the stock in a transaction on 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 sale, the chief executive officer owned 469,648 shares in the company, valued at approximately $82,188,400. This represents a 0.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gary Merrill sold 1,748 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $174.91, for a total value of $305,742.68. Following the sale, the insider directly owned 89,923 shares in the company, valued at approximately $15,728,431.93. This represents a 1.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

About CommVault Systems

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.