Jacobs Levy Equity Management Inc. Sells 8,674 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Jacobs Levy Equity Management Inc. trimmed its stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 277,897 shares of the software maker's stock after selling 8,674 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.63% of Commvault Systems worth $41,937,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Commvault Systems by 1.0% in 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 last quarter. Renaissance Technologies LLC grew its position in Commvault Systems by 1.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,909,185 shares of the software maker's stock valued at $288,115,000 after acquiring an additional 24,900 shares during the last quarter. Invesco Ltd. grew its position in Commvault Systems by 57.7% during the fourth 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 last quarter. Geode Capital Management LLC grew its position in Commvault Systems by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 1,288,068 shares of the software maker's stock valued at $194,681,000 after acquiring an additional 43,088 shares during the last quarter. Finally, Northern Trust Corp grew its position in Commvault Systems by 9.8% during the fourth quarter. Northern Trust Corp now owns 651,973 shares of the software maker's stock valued at $98,389,000 after acquiring an additional 58,239 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Commvault Systems Stock Down 2.2%

Shares of Commvault Systems stock traded down $4.00 on Friday, hitting $178.04. The stock had a trading volume of 442,238 shares, compared to its average volume of 418,593. Commvault Systems, Inc. has a one year low of $105.76 and a one year high of $190.11. The stock has a market cap of $7.86 billion, a price-to-earnings ratio of 46.73 and a beta of 0.71. The stock's 50-day simple moving average is $161.33 and its two-hundred day simple moving average is $164.39.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on CVLT. Piper Sandler reduced their price target on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. William Blair upgraded shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. Cantor Fitzgerald increased their price target on shares of Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. KeyCorp reduced their price target on shares of Commvault Systems from $195.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Finally, Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a research report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Commvault Systems presently has an average rating of "Moderate Buy" and an average target price of $175.25.

Insider Buying and Selling

In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total transaction of $614,471.78. Following the completion of the transaction, the insider now owns 87,316 shares of the company's stock, valued at approximately $16,322,853.04. This trade represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total value of $2,290,655.28. Following the transaction, the chief executive officer now directly owns 427,231 shares of the company's stock, valued at $79,447,876.76. This represents a 2.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,105 shares of company stock valued at $3,159,737 over the last quarter. 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.