State of Alaska Department of Revenue Trims Position in Commvault Systems, Inc. (NASDAQ:CVLT)

State of Alaska Department of Revenue cut its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 9.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,731 shares of the software maker’s stock after selling 485 shares during the quarter. State of Alaska Department of Revenue’s holdings in Commvault Systems were worth $377,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CVLT. Morgan Stanley increased its holdings in shares of Commvault Systems by 268.0% during the 4th quarter. Morgan Stanley now owns 808,162 shares of the software maker’s stock valued at $50,785,000 after purchasing an additional 588,533 shares in the last quarter. Neuberger Berman Group LLC acquired a new position in shares of Commvault Systems during the 3rd quarter valued at about $29,077,000. BlackRock Inc. boosted its position in shares of Commvault Systems by 8.6% during the 2nd quarter. BlackRock Inc. now owns 6,019,103 shares of the software maker’s stock valued at $437,107,000 after acquiring an additional 478,120 shares during the last quarter. Norges Bank acquired a new position in shares of Commvault Systems during the 4th quarter valued at about $24,386,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Commvault Systems by 119.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 587,148 shares of the software maker’s stock valued at $38,958,000 after acquiring an additional 319,722 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Commvault Systems Price Performance

Shares of NASDAQ:CVLT opened at $96.49 on Friday. The firm has a market capitalization of $4.22 billion, a PE ratio of -3,215.26 and a beta of 0.62. The firm’s 50-day moving average is $97.03 and its two-hundred day moving average is $81.83. Commvault Systems, Inc. has a 1 year low of $56.76 and a 1 year high of $102.21.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The company had revenue of $216.81 million for the quarter, compared to analyst estimates of $208.01 million. Commvault Systems had a negative net margin of 0.09% and a positive return on equity of 32.27%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 earnings per share. Analysts expect that Commvault Systems, Inc. will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Allison Pickens sold 990 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $94.73, for a total transaction of $93,782.70. Following the sale, the director now directly owns 7,206 shares in the company, valued at $682,624.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Allison Pickens sold 990 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $94.73, for a total transaction of $93,782.70. Following the sale, the director now directly owns 7,206 shares in the company, valued at $682,624.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjay Mirchandani sold 21,494 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $97.82, for a total transaction of $2,102,543.08. Following the sale, the chief executive officer now owns 399,356 shares in the company, valued at $39,065,003.92. The disclosure for this sale can be found here. Insiders have sold 23,306 shares of company stock worth $2,276,265 over the last three months. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

CVLT has been the topic of a number of recent analyst reports. Royal Bank of Canada upped their target price on shares of Commvault Systems from $86.00 to $97.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 31st. KeyCorp raised shares of Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 target price on the stock in a research report on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.60.

Commvault Systems 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.