Commvault Systems, Inc. (NASDAQ:CVLT) Shares Sold by Virtus Fund Advisers LLC

Virtus Fund Advisers LLC reduced its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 29.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 959 shares of the software maker’s stock after selling 400 shares during the period. Commvault Systems comprises 0.5% of Virtus Fund Advisers LLC’s portfolio, making the stock its 14th largest position. Virtus Fund Advisers LLC’s holdings in Commvault Systems were worth $145,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CVLT. Oak Ridge Investments LLC acquired a new position in shares of Commvault Systems in the fourth quarter worth about $2,561,000. Ellsworth Advisors LLC raised its position in shares of Commvault Systems by 4.8% in the 4th quarter. Ellsworth Advisors LLC now owns 4,454 shares of the software maker’s stock valued at $672,000 after purchasing an additional 202 shares in the last quarter. Diversify Wealth Management LLC boosted its stake in shares of Commvault Systems by 19.3% during the 4th quarter. Diversify Wealth Management LLC now owns 4,033 shares of the software maker’s stock valued at $621,000 after buying an additional 653 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its position in shares of Commvault Systems by 0.3% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 116,772 shares of the software maker’s stock worth $17,622,000 after buying an additional 300 shares in the last quarter. Finally, Simon Quick Advisors LLC increased its stake in shares of Commvault Systems by 20.7% in the fourth quarter. Simon Quick Advisors LLC now owns 2,445 shares of the software maker’s stock worth $369,000 after buying an additional 419 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $614,471.78. Following the sale, the insider now directly owns 87,316 shares in the company, valued at $16,322,853.04. The trade was a 3.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nicola Adamo sold 1,500 shares of the company’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $169.74, for a total transaction of $254,610.00. Following the completion of the sale, the director now directly owns 16,178 shares of the company’s stock, valued at $2,746,053.72. The trade was a 8.49% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,105 shares of company stock worth $3,159,737. Insiders own 1.00% of the company’s stock.

Commvault Systems Trading Down 2.2%

Shares of NASDAQ CVLT opened at $178.04 on Monday. The company has a market cap of $7.86 billion, a price-to-earnings ratio of 46.73 and a beta of 0.71. The stock’s 50 day simple moving average is $161.33 and its 200 day simple moving average is $164.39. Commvault Systems, Inc. has a 12-month low of $105.76 and a 12-month high of $190.11.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.10. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. The company had revenue of $275.04 million during the quarter, compared to the consensus estimate of $262.52 million. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, equities analysts forecast that Commvault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Oppenheimer raised their price objective on shares of Commvault Systems from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Royal Bank of Canada lifted their price target on Commvault Systems from $175.00 to $185.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 30th. Cantor Fitzgerald upped their price objective on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Wells Fargo & Company lifted their target price on Commvault Systems from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Finally, StockNews.com upgraded Commvault Systems from a “hold” rating to a “buy” rating in a report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.