JPMorgan Chase & Co. trimmed its holdings in CommVault Systems, Inc. (NASDAQ:CVLT) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 267,053 shares of the software maker’s stock after selling 11,318 shares during the period. JPMorgan Chase & Co. owned 0.59% of CommVault Systems worth $15,075,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Meadow Creek Investment Management LLC raised its position in shares of CommVault Systems by 2.4% in the first quarter. Meadow Creek Investment Management LLC now owns 2,352 shares of the software maker’s stock valued at $120,000 after buying an additional 56 shares in the last quarter. Advantus Capital Management Inc raised its position in shares of CommVault Systems by 2.5% in the first quarter. Advantus Capital Management Inc now owns 5,367 shares of the software maker’s stock valued at $273,000 after buying an additional 132 shares in the last quarter. Mason Street Advisors LLC raised its position in shares of CommVault Systems by 0.7% in the first quarter. Mason Street Advisors LLC now owns 19,806 shares of the software maker’s stock valued at $1,006,000 after buying an additional 147 shares in the last quarter. Texas Permanent School Fund raised its position in shares of CommVault Systems by 0.5% in the second quarter. Texas Permanent School Fund now owns 30,519 shares of the software maker’s stock valued at $1,723,000 after buying an additional 166 shares in the last quarter. Finally, State Treasurer State of Michigan raised its position in shares of CommVault Systems by 1.2% in the second quarter. State Treasurer State of Michigan now owns 17,200 shares of the software maker’s stock valued at $971,000 after buying an additional 200 shares in the last quarter. Institutional investors own 88.45% of the company’s stock.

A number of research firms have recently weighed in on CVLT. Jefferies Group LLC lifted their price target on shares of CommVault Systems from $67.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. Stifel Nicolaus reiterated a “buy” rating and issued a $75.00 price target (up from $68.00) on shares of CommVault Systems in a research report on Wednesday, July 26th. Lake Street Capital lifted their price target on shares of CommVault Systems from $63.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Mitsubishi UFJ Financial Group set a $70.00 price target on shares of CommVault Systems and gave the company a “buy” rating in a research report on Tuesday, July 25th. Finally, BidaskClub upgraded shares of CommVault Systems from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $69.80.

In other CommVault Systems news, insider Al Bunte sold 30,001 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $60.01, for a total value of $1,800,360.01. Following the sale, the insider now directly owns 474,780 shares in the company, valued at approximately $28,491,547.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian Carolan sold 9,174 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $59.80, for a total transaction of $548,605.20. Following the completion of the sale, the vice president now owns 74,513 shares in the company, valued at $4,455,877.40. The disclosure for this sale can be found here. Insiders sold a total of 54,247 shares of company stock worth $3,273,444 over the last quarter. Corporate insiders own 13.40% of the company’s stock.

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CommVault Systems, Inc. (NASDAQ:CVLT) opened at 60.85 on Monday. The firm’s 50-day moving average is $59.90 and its 200 day moving average is $55.92. The firm has a market capitalization of $2.77 billion, a P/E ratio of 1067.54 and a beta of 1.44. CommVault Systems, Inc. has a 12 month low of $47.61 and a 12 month high of $64.60.

CommVault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, July 25th. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.02. CommVault Systems had a net margin of 0.35% and a return on equity of 0.30%. The business had revenue of $165.97 million for the quarter, compared to analysts’ expectations of $159.92 million. During the same period in the prior year, the company posted $0.21 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, analysts expect that CommVault Systems, Inc. will post $1.22 EPS for the current fiscal year.

CommVault Systems Profile

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

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