Today, Tdam USA Inc. cuts its investment of stake in Commvault Systems Inc. (CVLT)

Today, Tdam USA Inc. cuts its investment of stake in Commvault Systems Inc. (CVLT)

Tdam USA Inc. reduced its position in Commvault Systems Inc. (NASDAQ:CVLT) by 29.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 27,201 shares of the company’s stock after selling 11,164 shares during the period. Tdam USA Inc. owned 0.06% of Commvault Systems worth $1,445,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in shares of Commvault Systems by 9.2% in the second quarter. Bank of New York Mellon Corp now owns 3,013,989 shares of the company’s stock valued at $130,174,000 after buying an additional 253,997 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Commvault Systems by 0.3% in the second quarter. Vanguard Group Inc. now owns 3,012,789 shares of the company’s stock valued at $130,123,000 after buying an additional 8,172 shares during the last quarter. RS Investment Management Co. LLC boosted its stake in shares of Commvault Systems by 20.7% in the second quarter. RS Investment Management Co. LLC now owns 1,650,622 shares of the company’s stock valued at $71,290,000 after buying an additional 282,705 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in shares of Commvault Systems by 11.3% in the second quarter. Champlain Investment Partners LLC now owns 779,185 shares of the company’s stock valued at $33,653,000 after buying an additional 79,110 shares during the last quarter. Finally, Mesirow Financial Investment Management Equity Management acquired a new stake in shares of Commvault Systems during the second quarter valued at approximately $23,156,000. Institutional investors own 91.37% of the company’s stock.

Shares of Commvault Systems Inc. (NASDAQ:CVLT) traded down 0.27% during midday trading on Friday, reaching $55.45. 83,893 shares of the company traded hands. The stock has a market capitalization of $2.51 billion, a P/E ratio of 322.38 and a beta of 1.48. Commvault Systems Inc. has a 1-year low of $29.41 and a 1-year high of $57.25. The stock’s 50-day moving average is $53.88 and its 200-day moving average is $49.76.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.05. The company had revenue of $159.30 million for the quarter, compared to analyst estimates of $152.90 million. Commvault Systems had a net margin of 1.29% and a return on equity of 0.60%. The firm’s revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 earnings per share. Equities analysts predict that Commvault Systems Inc. will post $0.99 EPS for the current fiscal year.

Several brokerages have commented on CVLT. RBC Capital Markets restated a “hold” rating and set a $58.00 price objective (up from $54.00) on shares of Commvault Systems in a research note on Wednesday, October 26th. Lake Street Capital lifted their price objective on shares of Commvault Systems from $48.00 to $53.00 and gave the company a “hold” rating in a research note on Wednesday, October 26th. KeyCorp lifted their price objective on shares of Commvault Systems from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, October 6th. Zacks Investment Research cut shares of Commvault Systems from a “buy” rating to a “hold” rating in a research note on Monday, November 7th. Finally, Mizuho lifted their price objective on shares of Commvault Systems from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, October 25th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $54.92.

In other Commvault Systems news, SVP Ronald L. Miiller sold 21,152 shares of the stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $52.92, for a total value of $1,119,363.84. Following the transaction, the senior vice president now directly owns 127,120 shares in the company, valued at $6,727,190.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian Carolan sold 7,000 shares of the stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $56.40, for a total transaction of $394,800.00. Following the completion of the transaction, the vice president now owns 87,105 shares in the company, valued at $4,912,722. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by company insiders.

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