Inspire Investing LLC Decreases Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Inspire Investing LLC reduced its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 17.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,466 shares of the software maker’s stock after selling 3,917 shares during the period. Inspire Investing LLC’s holdings in Commvault Systems were worth $2,787,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CVLT. Charles Schwab Investment Management Inc. boosted its holdings in Commvault Systems by 25.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock valued at $90,278,000 after acquiring an additional 120,779 shares during the last quarter. Summit Partners Public Asset Management LLC bought a new position in shares of Commvault Systems during the third quarter worth about $67,722,000. Vontobel Holding Ltd. acquired a new stake in shares of Commvault Systems during the 3rd quarter valued at approximately $1,126,000. Point72 Hong Kong Ltd lifted its stake in Commvault Systems by 37.9% during the third quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker’s stock worth $3,603,000 after purchasing an additional 6,433 shares during the last quarter. Finally, Raymond James & Associates boosted its holdings in Commvault Systems by 58.1% in the third quarter. Raymond James & Associates now owns 15,410 shares of the software maker’s stock worth $2,371,000 after purchasing an additional 5,661 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Guggenheim downgraded shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Royal Bank of Canada upped their price target on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Oppenheimer assumed coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price objective on the stock. Cantor Fitzgerald assumed coverage on shares of Commvault Systems in a research report on Friday, January 17th. They issued a “neutral” rating and a $159.00 target price for the company. Finally, KeyCorp initiated coverage on Commvault Systems in a report on Thursday, January 16th. They set an “overweight” rating and a $192.00 price target on the stock. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $154.56.

Insiders Place Their Bets

In other news, CEO Sanjay Mirchandani sold 10,775 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $165.30, for a total value of $1,781,107.50. Following the completion of the sale, the chief executive officer now directly owns 459,969 shares of the company’s stock, valued at approximately $76,032,875.70. This represents a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary Merrill sold 1,523 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $164.89, for a total transaction of $251,127.47. Following the transaction, the insider now owns 93,007 shares in the company, valued at approximately $15,335,924.23. The trade was a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,530 shares of company stock valued at $2,244,755 in the last three months. Insiders own 1.00% of the company’s stock.

Commvault Systems Price Performance

NASDAQ CVLT opened at $162.80 on Thursday. The firm has a market capitalization of $7.12 billion, a PE ratio of 41.22 and a beta of 0.65. Commvault Systems, Inc. has a 12 month low of $79.39 and a 12 month high of $178.72. The company’s 50 day simple moving average is $164.57 and its 200 day simple moving average is $152.62.

Commvault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, beating the consensus estimate of $0.76 by $0.07. The business had revenue of $233.28 million during the quarter, compared to analyst estimates of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 earnings per share. Sell-side analysts anticipate that Commvault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

About Commvault Systems

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.