Franklin Resources Inc. Has $6.99 Million Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Franklin Resources Inc. reduced its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 9.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,627 shares of the software maker’s stock after selling 4,641 shares during the period. Franklin Resources Inc. owned about 0.10% of Commvault Systems worth $6,987,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Partners Public Asset Management LLC bought a new stake in Commvault Systems during the 3rd quarter worth approximately $67,722,000. AQR Capital Management LLC lifted its holdings in shares of Commvault Systems by 33.5% during the second quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock worth $78,882,000 after purchasing an additional 162,722 shares during the period. Renaissance Technologies LLC grew its stake in shares of Commvault Systems by 7.5% in the second quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock worth $220,466,000 after purchasing an additional 126,800 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Commvault Systems by 25.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock valued at $90,278,000 after purchasing an additional 120,779 shares during the period. Finally, Congress Asset Management Co. raised its position in Commvault Systems by 29.4% during the 3rd quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker’s stock worth $75,719,000 after purchasing an additional 111,715 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on CVLT. DA Davidson upped their price target on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, September 6th. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Guggenheim downgraded shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Royal Bank of Canada boosted their price target on shares of 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 started 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 and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Commvault Systems has a consensus rating of “Moderate Buy” and an average price target of $151.25.

Commvault Systems Stock Up 0.3 %

Shares of NASDAQ CVLT opened at $158.73 on Monday. Commvault Systems, Inc. has a 12-month low of $73.33 and a 12-month high of $178.72. The firm has a market cap of $6.94 billion, a PE ratio of 40.18 and a beta of 0.61. The company’s fifty day simple moving average is $162.87 and its 200 day simple moving average is $146.73.

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

Insider Activity

In other news, CEO Sanjay Mirchandani sold 10,775 shares of Commvault Systems stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the completion of the transaction, the chief executive officer now directly owns 459,969 shares in the company, valued at $76,032,875.70. This trade represents a 2.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary Merrill sold 1,523 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $164.89, for a total transaction of $251,127.47. Following the completion of the sale, the insider now owns 93,007 shares in the company, valued at $15,335,924.23. This represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,530 shares of company stock worth $2,244,755 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Commvault Systems Company 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.