Mackenzie Financial Corp Sells 81,022 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Mackenzie Financial Corp trimmed its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,835,987 shares of the software maker's stock after selling 81,022 shares during the period. Mackenzie Financial Corp owned about 4.19% of Commvault Systems worth $146,604,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. lifted its position in Commvault Systems by 8.6% during the second quarter. BlackRock Inc. now owns 6,019,103 shares of the software maker's stock valued at $437,107,000 after buying an additional 478,120 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Commvault Systems by 2.7% during the third quarter. Vanguard Group Inc. now owns 5,426,814 shares of the software maker's stock valued at $366,907,000 after purchasing an additional 144,625 shares during the period. State Street Corp raised its stake in shares of Commvault Systems by 2.8% during the second quarter. State Street Corp now owns 1,577,393 shares of the software maker's stock valued at $114,550,000 after purchasing an additional 42,809 shares during the period. Morgan Stanley raised its stake in shares of Commvault Systems by 26.9% during the third quarter. Morgan Stanley now owns 1,296,825 shares of the software maker's stock valued at $87,678,000 after purchasing an additional 274,966 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Commvault Systems by 4.8% during the first quarter. Geode Capital Management LLC now owns 879,806 shares of the software maker's stock valued at $49,920,000 after purchasing an additional 40,061 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Commvault Systems Price Performance

Shares of NASDAQ:CVLT traded up $1.38 during midday trading on Tuesday, reaching $95.63. The company had a trading volume of 186,873 shares, compared to its average volume of 306,139. The stock's fifty day moving average price is $97.04 and its 200-day moving average price is $82.21. The stock has a market capitalization of $4.19 billion, a P/E ratio of -3,180.94 and a beta of 0.62. Commvault Systems, Inc. has a one year low of $56.76 and a one year high of $102.21.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.05. The business had revenue of $216.81 million during the quarter, compared to analyst estimates of $208.01 million. Commvault Systems had a negative net margin of 0.09% and a positive return on equity of 32.27%. The business's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 earnings per share. As a group, sell-side analysts forecast that Commvault Systems, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In other Commvault Systems news, Director Allison Pickens sold 990 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $94.73, for a total transaction of $93,782.70. Following the sale, the director now directly owns 7,206 shares of the company's stock, valued at $682,624.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sanjay Mirchandani sold 21,494 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $97.82, for a total value of $2,102,543.08. Following the completion of the transaction, the chief executive officer now owns 399,356 shares in the company, valued at approximately $39,065,003.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Allison Pickens sold 990 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $94.73, for a total transaction of $93,782.70. Following the completion of the transaction, the director now owns 7,206 shares of the company's stock, valued at approximately $682,624.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,306 shares of company stock worth $2,276,265. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Commvault Systems from $86.00 to $97.00 and gave the company a "sector perform" rating in a research note on Wednesday, January 31st. KeyCorp upgraded shares of Commvault Systems from a "sector weight" rating to an "overweight" rating and set a $109.00 price objective on the stock in a research note on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.60.

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.