Quantedge Capital Pte Ltd Decreases Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Quantedge Capital Pte Ltd lowered its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 76.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 quarter.

Other large investors also recently modified their holdings of the company. Quarry LP increased its stake in shares of Commvault Systems by 888.2% during the 4th quarter. Quarry LP now owns 168 shares of the software maker's stock worth $25,000 after purchasing an additional 151 shares during the last quarter. TFC Financial Management Inc. boosted its holdings in Commvault Systems by 294.1% in the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker's stock worth $61,000 after buying an additional 300 shares during the period. GeoWealth Management LLC bought a new position in Commvault Systems in the 4th quarter worth approximately $101,000. Blue Trust Inc. boosted its holdings in Commvault Systems by 37,400.0% in the 4th quarter. Blue Trust Inc. now owns 750 shares of the software maker's stock worth $113,000 after buying an additional 748 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in Commvault Systems in the 4th quarter worth approximately $127,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Insiders Place Their Bets

In other news, Director Nicola Adamo sold 1,500 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $169.74, for a total transaction of $254,610.00. Following the completion of the transaction, the director now directly owns 16,178 shares of the company's stock, valued at approximately $2,746,053.72. This represents a 8.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mirchandani sold 12,318 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total transaction 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 approximately $79,447,876.76. This trade represents a 2.80% decrease in their ownership of the stock. 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 three months. Insiders own 1.00% of the company's stock.

Commvault Systems Stock Performance

Shares of NASDAQ:CVLT opened at $179.71 on Thursday. Commvault Systems, Inc. has a 52-week low of $105.76 and a 52-week high of $190.11. The firm has a fifty day moving average of $159.63 and a 200 day moving average of $163.90. The firm has a market capitalization of $7.93 billion, a PE ratio of 47.17 and a beta of 0.71.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.10. The company had revenue of $275.04 million during 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%. The firm's quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 earnings per share. On average, sell-side analysts forecast that Commvault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CVLT has been the subject of several analyst reports. Guggenheim reaffirmed a "neutral" rating on shares of Commvault Systems in a report on Wednesday, April 23rd. Piper Sandler cut their price objective on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. StockNews.com raised shares of Commvault Systems from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Oppenheimer boosted their price target on shares of Commvault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company boosted their price target on shares of Commvault Systems from $180.00 to $190.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $175.25.

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.

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