Commvault Systems, Inc. (NASDAQ:CVLT) Shares Sold by PDT Partners LLC

PDT Partners LLC trimmed its stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 78.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,057 shares of the software maker's stock after selling 21,720 shares during the period. PDT Partners LLC's holdings in Commvault Systems were worth $914,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Quarry LP lifted its position in shares of Commvault Systems by 888.2% during the fourth quarter. Quarry LP now owns 168 shares of the software maker's stock valued at $25,000 after buying an additional 151 shares during the last quarter. TFC Financial Management Inc. lifted its position in Commvault Systems by 294.1% during the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker's stock valued at $61,000 after acquiring an additional 300 shares during the last quarter. GeoWealth Management LLC acquired a new stake in Commvault Systems in the fourth quarter valued at approximately $101,000. Blue Trust Inc. grew its holdings in Commvault Systems by 37,400.0% in the fourth quarter. Blue Trust Inc. now owns 750 shares of the software maker's stock worth $113,000 after purchasing an additional 748 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Commvault Systems during the fourth quarter worth $127,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Sanjay Mirchandani sold 12,318 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total value of $2,290,655.28. Following the completion of the sale, the chief executive officer now directly owns 427,231 shares in the company, valued at $79,447,876.76. The trade was a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gary Merrill sold 3,287 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total value of $614,471.78. Following the transaction, the insider now owns 87,316 shares in the company, valued at $16,322,853.04. This trade represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Commvault Systems Price Performance

NASDAQ:CVLT traded up $1.67 during mid-day trading on Monday, hitting $174.22. The company's stock had a trading volume of 366,615 shares, compared to its average volume of 489,876. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 45.73 and a beta of 0.68. Commvault Systems, Inc. has a 1 year low of $105.76 and a 1 year high of $190.11. The business's fifty day moving average is $158.48 and its two-hundred day moving average is $162.19.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, topping the consensus estimate of $0.93 by $0.10. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. The business had revenue of $275.04 million for the quarter, compared to analyst estimates of $262.52 million. During the same quarter in the prior year, the firm posted $0.79 EPS. The business's quarterly revenue was up 23.2% compared to the same quarter last year. Analysts anticipate that Commvault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CVLT. KeyCorp dropped their target price on Commvault Systems from $195.00 to $185.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. William Blair upgraded shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a report on Thursday, January 30th. Oppenheimer boosted their target price on shares of Commvault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. StockNews.com upgraded shares of Commvault Systems from a "hold" rating to a "buy" rating in a research note on Thursday. Finally, Wells Fargo & Company lifted their price objective on shares of Commvault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $175.25.

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.