JPMorgan Chase & Co. Has $41.05 Million Position in Commvault Systems, Inc. (NASDAQ:CVLT)

JPMorgan Chase & Co. decreased its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 266,831 shares of the software maker’s stock after selling 13,162 shares during the period. JPMorgan Chase & Co. owned 0.61% of Commvault Systems worth $41,052,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. National Bank of Canada FI bought a new stake in Commvault Systems in the 2nd quarter valued at $30,000. Capital Performance Advisors LLP bought a new stake in Commvault Systems in the 3rd quarter valued at about $33,000. Strategic Financial Concepts LLC acquired a new position in shares of Commvault Systems during the 2nd quarter worth approximately $56,000. Point72 DIFC Ltd bought a new position in shares of Commvault Systems during the third quarter worth approximately $71,000. Finally, Signaturefd LLC raised its position in shares of Commvault Systems by 43.9% in the third quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock valued at $91,000 after buying an additional 180 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Commvault Systems Stock Performance

NASDAQ:CVLT opened at $158.56 on Monday. Commvault Systems, Inc. has a fifty-two week low of $73.33 and a fifty-two week high of $178.72. The company has a 50 day simple moving average of $165.49 and a two-hundred day simple moving average of $149.23. The company has a market capitalization of $6.93 billion, a PE ratio of 40.14 and a beta of 0.65.

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

Insiders Place Their Bets

In related news, insider Gary Merrill sold 1,523 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $164.89, for a total value of $251,127.47. Following the completion of the sale, the insider now directly owns 93,007 shares of the company’s stock, valued at $15,335,924.23. The trade was a 1.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sanjay Mirchandani sold 10,775 shares of the company’s stock in a transaction that occurred 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 directly owns 459,969 shares in the company, valued at approximately $76,032,875.70. This trade represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,530 shares of company stock worth $2,244,755. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CVLT. Guggenheim cut shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Royal Bank of Canada lifted their target price on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. StockNews.com raised shares of Commvault Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 31st. Finally, Oppenheimer began coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective for the company. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $151.25.

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.