Commvault Systems, Inc. (NASDAQ:CVLT) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 94.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,220 shares of the software maker’s stock after selling 261,022 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Commvault Systems were worth $2,188,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in shares of Commvault Systems by 504.6% during the second quarter. SG Americas Securities LLC now owns 13,016 shares of the software maker’s stock worth $1,582,000 after purchasing an additional 10,863 shares during the period. Intech Investment Management LLC acquired a new stake in Commvault Systems during the second quarter worth about $2,221,000. BOKF NA lifted its holdings in Commvault Systems by 55.3% in the first quarter. BOKF NA now owns 3,119 shares of the software maker’s stock worth $313,000 after acquiring an additional 1,110 shares during the last quarter. Ellsworth Advisors LLC acquired a new position in Commvault Systems in the second quarter valued at approximately $495,000. Finally, Vontobel Holding Ltd. bought a new position in shares of Commvault Systems during the third quarter valued at approximately $1,126,000. 93.50% of the stock is currently owned by institutional investors.

Commvault Systems Trading Up 0.6 %

CVLT stock opened at $175.60 on Tuesday. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 44.46 and a beta of 0.59. Commvault Systems, Inc. has a 52 week low of $70.72 and a 52 week high of $178.29. The firm’s 50-day moving average is $156.18 and its two-hundred day moving average is $138.28.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. Commvault Systems’s revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.30 EPS. On average, equities research analysts predict that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

Insider Transactions at Commvault Systems

In related news, CEO Sanjay Mirchandani sold 10,775 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 459,969 shares in the company, valued at $76,032,875.70. This trade represents a 2.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the sale, the director now owns 7,131 shares in the company, valued at approximately $1,097,389.59. The trade was a 14.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,530 shares of company stock valued at $2,221,827 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CVLT has been the topic of several analyst reports. Guggenheim lowered Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Royal Bank of Canada increased their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. DA Davidson lifted their price objective on shares of Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, September 6th. KeyCorp upped their target price on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $151.25.

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.