Renaissance Technologies LLC Lowers Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Renaissance Technologies LLC reduced its position in Commvault Systems, Inc. (NASDAQ:CVLTGet Rating) by 9.3% in the 4th quarter, Holdings Channel reports. The fund owned 1,849,287 shares of the software maker’s stock after selling 190,300 shares during the period. Renaissance Technologies LLC’s holdings in Commvault Systems were worth $127,453,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Huntington National Bank grew its stake in shares of Commvault Systems by 33.4% during the 4th quarter. Huntington National Bank now owns 943 shares of the software maker’s stock valued at $65,000 after buying an additional 236 shares during the period. Gladius Capital Management LP purchased a new stake in shares of Commvault Systems during the 4th quarter valued at $125,000. Point72 Hong Kong Ltd purchased a new stake in Commvault Systems during the 3rd quarter worth $166,000. Keebeck Alpha LP purchased a new stake in Commvault Systems during the 4th quarter worth $201,000. Finally, Trexquant Investment LP purchased a new stake in Commvault Systems during the 3rd quarter worth $218,000. 95.69% of the stock is owned by hedge funds and other institutional investors.

Shares of Commvault Systems stock traded up $0.08 during trading on Thursday, reaching $58.60. The company had a trading volume of 11,840 shares, compared to its average volume of 212,353. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 82.42, a price-to-earnings-growth ratio of 5.79 and a beta of 0.66. The firm’s fifty day moving average is $63.13 and its 200-day moving average is $65.01. Commvault Systems, Inc. has a fifty-two week low of $55.72 and a fifty-two week high of $84.22.

Commvault Systems (NASDAQ:CVLTGet Rating) last issued its earnings results on Tuesday, May 3rd. The software maker reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.12. The business had revenue of $205.95 million for the quarter, compared to analyst estimates of $201.98 million. Commvault Systems had a net margin of 4.37% and a return on equity of 15.55%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.25 EPS. On average, equities analysts forecast that Commvault Systems, Inc. will post 1.01 EPS for the current fiscal year.

A number of analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Commvault Systems in a research report on Thursday, March 31st. They set a “strong-buy” rating for the company. Lake Street Capital upped their price target on shares of Commvault Systems from $64.00 to $68.00 in a research report on Wednesday, January 26th. Finally, Royal Bank of Canada boosted their price objective on shares of Commvault Systems from $66.00 to $75.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 26th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $80.33.

In other Commvault Systems news, Director Allison Pickens sold 500 shares of the company’s stock in a transaction dated Thursday, May 12th. The shares were sold at an average price of $58.47, for a total value of $29,235.00. Following the completion of the transaction, the director now owns 6,758 shares in the company, valued at approximately $395,140.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sanjay Mirchandani sold 16,141 shares of the company’s stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $61.46, for a total transaction of $992,025.86. Following the completion of the transaction, the chief executive officer now owns 494,283 shares of the company’s stock, valued at approximately $30,378,633.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,176 shares of company stock worth $2,411,066. 0.99% of the stock is owned by company insiders.

Commvault Systems Profile (Get Rating)

Commvault Systems, Inc provides data protection and information management software applications and related services in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, an easy-to-use replication and disaster recovery solution; and Commvault Complete Data Protection, an easy-to-use data protection solution.

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Institutional Ownership by Quarter for Commvault Systems (NASDAQ:CVLT)

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