Jennison Associates LLC Has $568,000 Holdings in CommVault Systems, Inc. (NASDAQ:CVLT)

Jennison Associates LLC lessened its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 58.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,601 shares of the software maker's stock after selling 5,144 shares during the period. Jennison Associates LLC's holdings in CommVault Systems were worth $568,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Quarry LP grew its position in CommVault Systems by 888.2% in the 4th quarter. Quarry LP now owns 168 shares of the software maker's stock worth $25,000 after purchasing an additional 151 shares during the last quarter. SBI Securities Co. Ltd. grew its position in 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 purchasing an additional 80 shares during the last quarter. Whipplewood Advisors LLC grew its position in CommVault Systems by 584.0% in the 1st quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker's stock worth $27,000 after purchasing an additional 146 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in CommVault Systems in the 1st quarter worth about $27,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in CommVault Systems by 208.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 185 shares of the software maker's stock worth $29,000 after purchasing an additional 125 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Insiders Place Their Bets

In other news, insider Gary Merrill sold 1,748 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $174.91, for a total transaction of $305,742.68. Following the transaction, the insider owned 89,923 shares in the company, valued at $15,728,431.93. This represents a 1.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $299,075.00. Following the transaction, the chief executive officer owned 469,648 shares in the company, valued at approximately $82,188,400. This trade represents a 0.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,957 shares of company stock worth $859,428 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CVLT shares. DA Davidson decreased their price objective on shares of CommVault Systems from $215.00 to $200.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Oppenheimer increased their price objective on shares of CommVault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Wells Fargo & Company increased their price objective on shares of CommVault Systems from $180.00 to $190.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Wall Street Zen upgraded shares of CommVault Systems from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Finally, Royal Bank Of Canada increased their price objective on shares of CommVault Systems from $175.00 to $185.00 and gave the company a "sector perform" rating in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $189.13.

CommVault Systems Stock Performance

Shares of NASDAQ:CVLT traded down $1.62 during mid-day trading on Friday, hitting $164.35. The stock had a trading volume of 463,502 shares, compared to its average volume of 386,145. The company has a market cap of $7.32 billion, a PE ratio of 97.25 and a beta of 0.73. CommVault Systems, Inc. has a 12-month low of $121.78 and a 12-month high of $192.01. The company's 50 day moving average is $176.26 and its 200-day moving average is $168.11.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last released its earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.10. CommVault Systems had a net margin of 7.64% and a return on equity of 32.31%. The company had revenue of $275.04 million during the quarter, compared to the consensus estimate of $262.52 million. During the same quarter in the prior year, the firm earned $0.79 EPS. The company's revenue was up 23.2% compared to the same quarter last year. On average, equities research analysts predict that CommVault Systems, Inc. will post 1.65 EPS for the current fiscal year.

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.