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

Champlain Investment Partners LLC decreased its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 27.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 372,070 shares of the software maker’s stock after selling 138,356 shares during the period. Champlain Investment Partners LLC’s holdings in Commvault Systems were worth $57,243,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Xponance Inc. boosted its holdings in shares of Commvault Systems by 1.3% in the 2nd quarter. Xponance Inc. now owns 6,371 shares of the software maker’s stock valued at $775,000 after purchasing an additional 79 shares in the last quarter. EFG Asset Management North America Corp. boosted its stake in Commvault Systems by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 21,699 shares of the software maker’s stock valued at $2,637,000 after buying an additional 103 shares in the last quarter. Natixis Advisors LLC grew its position in Commvault Systems by 1.0% in the second quarter. Natixis Advisors LLC now owns 13,693 shares of the software maker’s stock valued at $1,665,000 after acquiring an additional 138 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Commvault Systems by 5.4% in the second quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock valued at $328,000 after acquiring an additional 139 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in Commvault Systems by 5.9% during the second quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker’s stock worth $334,000 after acquiring an additional 153 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total value of $2,621,414.88. Following the transaction, the insider now directly owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. This trade represents a 15.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $189,592.48. Following the sale, the director now directly owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. The trade was a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,918 shares of company stock worth $4,843,242. Corporate insiders own 1.00% of the company’s stock.

Commvault Systems Price Performance

Commvault Systems stock opened at $174.60 on Friday. Commvault Systems, Inc. has a one year low of $70.30 and a one year high of $178.29. The stock’s 50 day moving average is $155.64 and its 200 day moving average is $137.42. The firm has a market cap of $7.64 billion, a P/E ratio of 44.20 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, topping the consensus estimate of $0.76 by $0.07. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The business had revenue of $233.28 million during the quarter, compared to analysts’ expectations of $220.76 million. During the same quarter last year, the firm posted $0.30 earnings per share. The firm’s revenue was up 16.1% on a year-over-year basis. Equities analysts anticipate that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.