Wedge Capital Management L L P NC Sells 3,356 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Wedge Capital Management L L P NC lowered its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 20.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,728 shares of the software maker’s stock after selling 3,356 shares during the period. Wedge Capital Management L L P NC’s holdings in Commvault Systems were worth $1,016,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Commvault Systems by 2.7% during the third quarter. Vanguard Group Inc. now owns 5,426,814 shares of the software maker’s stock worth $366,907,000 after acquiring an additional 144,625 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of Commvault Systems by 27.6% in the third quarter. Lazard Asset Management LLC now owns 70,516 shares of the software maker’s stock worth $4,766,000 after buying an additional 15,249 shares in the last quarter. Tudor Investment Corp Et Al bought a new position in shares of Commvault Systems in the third quarter worth approximately $2,611,000. Qube Research & Technologies Ltd bought a new position in shares of Commvault Systems in the third quarter worth approximately $2,974,000. Finally, Quantedge Capital Pte Ltd lifted its stake in shares of Commvault Systems by 791.7% in the third quarter. Quantedge Capital Pte Ltd now owns 53,500 shares of the software maker’s stock worth $3,617,000 after buying an additional 47,500 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling at Commvault Systems

In other 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 value of $93,782.70. Following the completion of 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 SEC, which is accessible through the SEC website. In other 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 value of $93,782.70. Following the completion of 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 SEC, which is accessible through the SEC website. Also, CEO Sanjay Mirchandani sold 21,494 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $97.82, for a total transaction of $2,102,543.08. Following the completion of the sale, the chief executive officer now directly owns 399,356 shares of the company’s stock, valued at $39,065,003.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,306 shares of company stock valued at $2,276,265. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

CVLT has been the topic of several analyst reports. KeyCorp upgraded shares of Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 target price on the stock in a research note on Wednesday, January 31st. Royal Bank of Canada boosted their price objective on shares of Commvault Systems from $86.00 to $97.00 and gave the company a “sector perform” rating in a report on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.60.

Commvault Systems Price Performance

CVLT opened at $97.09 on Friday. Commvault Systems, Inc. has a twelve month low of $56.76 and a twelve month high of $102.21. The firm has a 50 day moving average price of $97.39 and a 200-day moving average price of $83.56.

Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. Commvault Systems had a negative net margin of 0.09% and a positive return on equity of 32.27%. The business had revenue of $216.81 million during the quarter, compared to analysts’ expectations of $208.01 million. During the same period in the prior year, the company earned $0.17 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. Equities research analysts anticipate that Commvault Systems, Inc. will post 1.35 EPS for the current fiscal year.

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.