State of Alaska Department of Revenue Cuts Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

State of Alaska Department of Revenue reduced its position in shares of Commvault Systems, Inc. (NASDAQ:CVLTGet Rating) by 3.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,217 shares of the software maker’s stock after selling 190 shares during the period. State of Alaska Department of Revenue’s holdings in Commvault Systems were worth $329,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CVLT. Captrust Financial Advisors increased its stake in Commvault Systems by 64.0% during the 2nd quarter. Captrust Financial Advisors now owns 510 shares of the software maker’s stock worth $32,000 after buying an additional 199 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Commvault Systems in the second quarter valued at approximately $64,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Commvault Systems in the second quarter valued at approximately $65,000. Lazard Asset Management LLC grew its position in shares of Commvault Systems by 63.1% in the first quarter. Lazard Asset Management LLC now owns 1,321 shares of the software maker’s stock valued at $87,000 after purchasing an additional 511 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in shares of Commvault Systems by 6,466.7% in the third quarter. Pacer Advisors Inc. now owns 1,970 shares of the software maker’s stock valued at $104,000 after purchasing an additional 1,940 shares in the last quarter. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CVLT shares. Piper Sandler dropped their price target on Commvault Systems from $70.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday. William Blair restated a “market perform” rating on shares of Commvault Systems in a research report on Wednesday, November 2nd. StockNews.com started coverage on Commvault Systems in a report on Wednesday, October 12th. They issued a “strong-buy” rating on the stock. Finally, Royal Bank of Canada upped their price objective on Commvault Systems from $63.00 to $66.00 and gave the company a “sector perform” rating in a report on Wednesday, November 2nd. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Commvault Systems currently has a consensus rating of “Moderate Buy” and an average target price of $66.25.

Commvault Systems Stock Performance

CVLT opened at $55.20 on Friday. Commvault Systems, Inc. has a one year low of $50.26 and a one year high of $70.00. The stock has a market capitalization of $2.46 billion, a PE ratio of 98.57, a P/E/G ratio of 6.84 and a beta of 0.58. The business’s 50 day moving average price is $63.95 and its 200 day moving average price is $59.63.

Commvault Systems (NASDAQ:CVLTGet Rating) last released its quarterly earnings results on Tuesday, November 1st. The software maker reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.10. Commvault Systems had a return on equity of 14.36% and a net margin of 3.28%. The company had revenue of $188.06 million for the quarter, compared to analysts’ expectations of $186.53 million. As a group, equities research analysts forecast that Commvault Systems, Inc. will post 0.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Commvault Systems news, CAO James J. Whalen sold 526 shares of the company’s stock in a transaction on Monday, November 28th. The stock was sold at an average price of $66.04, for a total transaction of $34,737.04. Following the transaction, the chief accounting officer now directly owns 17,524 shares in the company, valued at $1,157,284.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by insiders.

Commvault Systems Company Profile

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Commvault Systems, Inc provides data protection and information management software applications and related services 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; and Commvault Complete Data Protection, a data protection solution.

Further Reading

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

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