Goldman Sachs Group Inc. Lowers Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Goldman Sachs Group Inc. lowered its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 22.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 241,171 shares of the software maker’s stock after selling 70,938 shares during the period. Goldman Sachs Group Inc. owned approximately 0.55% of Commvault Systems worth $19,258,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CVLT. Jump Financial LLC purchased a new position in shares of Commvault Systems in the 4th quarter worth $3,298,000. Los Angeles Capital Management LLC purchased a new position in shares of Commvault Systems in the 4th quarter worth about $1,110,000. Seven Eight Capital LP purchased a new stake in shares of Commvault Systems during the 4th quarter worth about $583,000. Vanguard Group Inc. increased its position in Commvault Systems by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,426,814 shares of the software maker’s stock worth $366,907,000 after purchasing an additional 144,625 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in Commvault Systems by 27.6% in the third quarter. Lazard Asset Management LLC now owns 70,516 shares of the software maker’s stock valued at $4,766,000 after buying an additional 15,249 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. KeyCorp increased their price objective on shares of Commvault Systems from $109.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Lake Street Capital raised their price objective on Commvault Systems from $86.00 to $98.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. DA Davidson upped their target price on Commvault Systems from $125.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Wells Fargo & Company raised their target price on Commvault Systems from $125.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. Finally, Guggenheim restated a “buy” rating and issued a $122.00 price target on shares of Commvault Systems in a report on Tuesday. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $121.50.

Insiders Place Their Bets

In other Commvault Systems news, Director Vivie Lee sold 2,500 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $112.19, for a total value of $280,475.00. Following the transaction, the director now owns 13,589 shares of the company’s stock, valued at $1,524,549.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Vivie Lee sold 2,500 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $112.19, for a total transaction of $280,475.00. Following the completion of the transaction, the director now owns 13,589 shares in the company, valued at $1,524,549.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles E. Moran sold 11,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $110.83, for a total transaction of $1,219,130.00. Following the completion of the transaction, the director now owns 10,967 shares of the company’s stock, valued at approximately $1,215,472.61. The disclosure for this sale can be found here. Insiders sold a total of 59,816 shares of company stock valued at $6,613,874 over the last 90 days. 1.00% of the stock is owned by company insiders.

Commvault Systems Stock Performance

Shares of CVLT opened at $118.63 on Thursday. Commvault Systems, Inc. has a one year low of $63.70 and a one year high of $121.50. The stock has a 50-day moving average price of $109.61 and a 200 day moving average price of $96.56. The company has a market capitalization of $5.15 billion, a P/E ratio of 31.55 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, April 30th. The software maker reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.10. The business had revenue of $223.29 million during the quarter, compared to the consensus estimate of $213.00 million. Commvault Systems had a net margin of 20.13% and a return on equity of 31.27%. As a group, equities research analysts forecast that Commvault Systems, Inc. will post 1.7 earnings per share for the current fiscal year.

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.