Commvault Systems, Inc. (NASDAQ:CVLT) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp cut its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 4.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,835,987 shares of the software maker’s stock after selling 81,022 shares during the period. Mackenzie Financial Corp owned approximately 4.19% of Commvault Systems worth $146,604,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Quarry LP purchased a new stake in shares of Commvault Systems in the first quarter worth about $26,000. Captrust Financial Advisors boosted its stake in shares of Commvault Systems by 64.0% in the second quarter. Captrust Financial Advisors now owns 510 shares of the software maker’s stock worth $32,000 after buying an additional 199 shares during the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of Commvault Systems in the fourth quarter worth about $33,000. Quantbot Technologies LP purchased a new stake in shares of Commvault Systems in the second quarter worth about $64,000. Finally, Dark Forest Capital Management LP boosted its stake in shares of Commvault Systems by 223.8% in the first quarter. Dark Forest Capital Management LP now owns 1,224 shares of the software maker’s stock worth $69,000 after buying an additional 846 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Sanjay Mirchandani sold 21,494 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $97.82, for a total value of $2,102,543.08. Following the transaction, the chief executive officer now owns 399,356 shares in the company, valued at $39,065,003.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Gary Merrill sold 822 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $97.25, for a total value of $79,939.50. Following the completion of the sale, the chief financial officer now owns 87,945 shares of the company’s stock, valued at $8,552,651.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sanjay Mirchandani sold 21,494 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $97.82, for a total value of $2,102,543.08. Following the completion of the sale, the chief executive officer now directly owns 399,356 shares of the company’s stock, valued at approximately $39,065,003.92. The disclosure for this sale can be found here. Insiders have sold a total of 23,306 shares of company stock worth $2,276,265 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Commvault Systems Trading Down 2.3 %

Shares of CVLT stock opened at $94.25 on Tuesday. The business’s 50 day moving average is $97.03 and its two-hundred day moving average is $82.03. Commvault Systems, Inc. has a 12-month low of $56.76 and a 12-month high of $102.21.

Commvault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.05. The business had revenue of $216.81 million for the quarter, compared to the consensus estimate of $208.01 million. Commvault Systems had a positive return on equity of 32.27% and a negative net margin of 0.09%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 earnings per share. On average, equities analysts predict that Commvault Systems, Inc. will post 1.35 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on CVLT. KeyCorp upgraded Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 target price on the stock in a research note on Wednesday, January 31st. Royal Bank of Canada increased their price target on Commvault Systems from $86.00 to $97.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $85.60.

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.