Champlain Investment Partners LLC Sells 138,356 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Champlain Investment Partners LLC lowered its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 27.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 372,070 shares of the software maker’s stock after selling 138,356 shares during the period. Champlain Investment Partners LLC owned 0.85% of Commvault Systems worth $57,243,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. SG Americas Securities LLC raised its position in Commvault Systems by 504.6% in the 2nd quarter. SG Americas Securities LLC now owns 13,016 shares of the software maker’s stock valued at $1,582,000 after purchasing an additional 10,863 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Commvault Systems in the first quarter valued at about $595,000. Intech Investment Management LLC acquired a new position in Commvault Systems during the 2nd quarter worth about $2,221,000. BOKF NA grew its holdings in Commvault Systems by 55.3% during the 1st 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. Finally, Vanguard Group Inc. increased its position in Commvault Systems by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 5,531,703 shares of the software maker’s stock valued at $561,081,000 after acquiring an additional 43,333 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CVLT. StockNews.com lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada upped their price target on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. KeyCorp raised their price objective on Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Oppenheimer initiated coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target on the stock. Finally, Guggenheim cut Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $151.25.

Insider Buying and Selling

In related news, insider Gary Merrill sold 1,523 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $164.89, for a total transaction of $251,127.47. Following the sale, the insider now owns 93,007 shares of the company’s stock, valued at $15,335,924.23. This represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sanjay Mirchandani sold 10,775 shares of the firm’s 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 transaction, the chief executive officer now owns 459,969 shares in the company, valued at approximately $76,032,875.70. This trade represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,918 shares of company stock valued at $4,843,242. 1.00% of the stock is owned by company insiders.

Commvault Systems Stock Up 2.3 %

Shares of CVLT stock opened at $174.60 on Friday. Commvault Systems, Inc. has a 12-month low of $70.30 and a 12-month high of $178.29. The company has a market capitalization of $7.64 billion, a PE ratio of 44.20 and a beta of 0.59. The firm has a 50 day moving average price of $155.64 and a two-hundred day moving average price of $137.42.

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

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.