Commvault Systems, Inc. (NASDAQ:CVLT) Stock Position Reduced by Quantedge Capital Pte Ltd

Quantedge Capital Pte Ltd decreased its position in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 76.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,800 shares of the software maker's stock after selling 25,400 shares during the period. Quantedge Capital Pte Ltd's holdings in Commvault Systems were worth $1,177,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Oak Ridge Investments LLC purchased a new position in Commvault Systems during the 4th quarter valued at about $2,561,000. Ellsworth Advisors LLC raised its position in shares of Commvault Systems by 4.8% during the 4th quarter. Ellsworth Advisors LLC now owns 4,454 shares of the software maker's stock worth $672,000 after purchasing an additional 202 shares during the last quarter. Diversify Wealth Management LLC lifted its stake in Commvault Systems by 19.3% in the 4th quarter. Diversify Wealth Management LLC now owns 4,033 shares of the software maker's stock valued at $621,000 after buying an additional 653 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its holdings in Commvault Systems by 0.3% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 116,772 shares of the software maker's stock valued at $17,622,000 after buying an additional 300 shares during the last quarter. Finally, Simon Quick Advisors LLC increased its position in Commvault Systems by 20.7% during the fourth quarter. Simon Quick Advisors LLC now owns 2,445 shares of the software maker's stock worth $369,000 after buying an additional 419 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Commvault Systems Stock Performance

Commvault Systems stock traded up $1.87 during midday trading on Tuesday, reaching $180.02. The stock had a trading volume of 174,870 shares, compared to its average volume of 417,800. The stock's 50-day simple moving average is $161.83 and its 200 day simple moving average is $164.61. Commvault Systems, Inc. has a twelve month low of $105.76 and a twelve month high of $190.11. The stock has a market capitalization of $7.94 billion, a PE ratio of 47.23 and a beta of 0.71.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last posted 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 18.14% and a return on equity of 28.69%. The firm 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 company earned $0.79 EPS. The company's revenue was up 23.2% on a year-over-year basis. Equities analysts predict that Commvault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Sanjay Mirchandani sold 12,318 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now owns 427,231 shares in the company, valued at approximately $79,447,876.76. The trade was a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Nicola Adamo sold 1,500 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $169.74, for a total value of $254,610.00. Following the transaction, the director now owns 16,178 shares of the company's stock, valued at approximately $2,746,053.72. This trade represents a 8.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,105 shares of company stock worth $3,159,737. 1.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on CVLT shares. StockNews.com raised Commvault Systems from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. William Blair upgraded shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a report on Thursday, January 30th. DA Davidson upped their price objective 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. Wells Fargo & Company lifted their target price 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. Finally, Piper Sandler cut their price target on Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target 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.