PNC Financial Services Group Inc. Trims Stake in CommVault Systems, Inc. (NASDAQ:CVLT)

PNC Financial Services Group Inc. lowered its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 51.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,783 shares of the software maker’s stock after selling 2,898 shares during the quarter. PNC Financial Services Group Inc.’s holdings in CommVault Systems were worth $165,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CVLT. FMR LLC raised its holdings in shares of CommVault Systems by 28.8% during the 3rd quarter. FMR LLC now owns 2,301,297 shares of the software maker’s stock valued at $161,091,000 after purchasing an additional 513,975 shares in the last quarter. Prudential Financial Inc. raised its holdings in CommVault Systems by 977.0% in the 3rd quarter. Prudential Financial Inc. now owns 313,473 shares of the software maker’s stock worth $21,943,000 after acquiring an additional 284,366 shares during the period. AQR Capital Management LLC raised its holdings in CommVault Systems by 304.4% in the 3rd quarter. AQR Capital Management LLC now owns 270,716 shares of the software maker’s stock worth $18,950,000 after acquiring an additional 203,772 shares during the period. Mackenzie Financial Corp raised its holdings in CommVault Systems by 16.0% in the 4th quarter. Mackenzie Financial Corp now owns 1,388,279 shares of the software maker’s stock worth $82,033,000 after acquiring an additional 191,800 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in CommVault Systems by 118.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 323,713 shares of the software maker’s stock worth $22,660,000 after acquiring an additional 175,861 shares during the period. Institutional investors and hedge funds own 90.90% of the company’s stock.

Shares of NASDAQ:CVLT traded up $0.44 on Monday, hitting $63.57. 1,228,337 shares of the company were exchanged, compared to its average volume of 496,799. CommVault Systems, Inc. has a one year low of $51.53 and a one year high of $72.65. The company has a market cap of $2.92 billion, a price-to-earnings ratio of -107.75, a PEG ratio of 3.08 and a beta of 1.23.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, January 29th. The software maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.12. CommVault Systems had a net margin of 0.57% and a return on equity of 5.78%. The company had revenue of $184.28 million for the quarter, compared to the consensus estimate of $180.66 million. During the same quarter in the previous year, the firm posted $0.30 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. As a group, research analysts forecast that CommVault Systems, Inc. will post 0.79 EPS for the current fiscal year.

In other news, COO Al Bunte sold 64,167 shares of CommVault Systems stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $67.82, for a total transaction of $4,351,805.94. Following the sale, the chief operating officer now directly owns 486,177 shares in the company, valued at approximately $32,972,524.14. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gary Merrill sold 1,385 shares of CommVault Systems stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $67.87, for a total transaction of $93,999.95. Following the sale, the insider now owns 16,152 shares in the company, valued at $1,096,236.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,052 shares of company stock worth $4,955,806. Insiders own 13.40% of the company’s stock.

Several brokerages recently commented on CVLT. Piper Jaffray Companies downgraded shares of CommVault Systems from an “overweight” rating to a “neutral” rating and set a $66.00 target price on the stock. in a report on Monday, February 11th. Lake Street Capital lifted their target price on shares of CommVault Systems to $69.00 and gave the stock a “buy” rating in a report on Wednesday, January 30th. BidaskClub downgraded shares of CommVault Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 6th. Zacks Investment Research downgraded shares of CommVault Systems from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. Finally, ValuEngine downgraded shares of CommVault Systems from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $75.00.

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CommVault Systems Profile

Commvault Systems, Inc provides data protection and information management software applications and related services in the United States, Canada, Latin America, Europe, the Middle East, Africa, Australia, New Zealand, Southeast Asia, and China. The company offers data protection, backup, and recovery software solutions for the backup of databases, files, applications, endpoints, and virtual machines according to data type and recovery profile; and help to optimize storage with deduplication, recover data, and leverage reports.

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Institutional Ownership by Quarter for CommVault Systems (NASDAQ:CVLT)

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