Two Sigma Advisers LP Reduces Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Two Sigma Advisers LP lessened its stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 64.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,637 shares of the software maker's stock after selling 22,900 shares during the period. Two Sigma Advisers LP's holdings in Commvault Systems were worth $1,907,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. grew 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 valued at $250,527,000 after acquiring an additional 607,643 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Commvault Systems by 604.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker's stock valued at $98,479,000 after acquiring an additional 555,656 shares during the period. Norges Bank bought a new stake in shares of Commvault Systems during the 4th quarter valued at $79,619,000. Polar Capital Holdings Plc grew its position in shares of Commvault Systems by 182.5% during the 4th quarter. Polar Capital Holdings Plc now owns 362,958 shares of the software maker's stock valued at $54,774,000 after acquiring an additional 234,477 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of Commvault Systems by 105.3% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 203,704 shares of the software maker's stock valued at $30,741,000 after acquiring an additional 104,489 shares during the period. Institutional investors own 93.50% of the company's stock.

Commvault Systems Stock Performance

Shares of Commvault Systems stock traded down $3.74 during trading on Tuesday, hitting $183.24. 880,496 shares of the company's stock were exchanged, compared to its average volume of 426,942. The business has a 50-day simple moving average of $165.27 and a 200-day simple moving average of $165.36. Commvault Systems, Inc. has a 52-week low of $108.15 and a 52-week high of $190.11. The stock has a market capitalization of $8.09 billion, a price-to-earnings ratio of 48.09 and a beta of 0.71.

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 for the quarter, topping analysts' consensus estimates of $0.93 by $0.10. The firm had revenue of $275.04 million for the quarter, compared to analyst estimates of $262.52 million. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. Commvault Systems's quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 earnings per share. On average, equities analysts anticipate that Commvault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Nicola Adamo sold 1,500 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $169.74, for a total value of $254,610.00. Following the completion of the sale, the director now owns 16,178 shares in the company, valued at $2,746,053.72. This trade represents a 8.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $305,742.68. Following the completion of the sale, the insider now owns 89,923 shares of the company's stock, valued at $15,728,431.93. This trade represents a 1.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,957 shares of company stock worth $859,428 in the last 90 days. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CVLT shares. Royal Bank of Canada lifted their target price 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, April 30th. Guggenheim restated a "neutral" rating on shares of Commvault Systems in a research note on Wednesday, April 23rd. DA Davidson lifted their target price on shares of Commvault Systems from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Wall Street Zen upgraded shares of Commvault Systems from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Finally, Oppenheimer lifted their target price on shares of Commvault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $175.25.

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.