Louisiana State Employees Retirement System Makes New Investment in Commvault Systems, Inc. (NASDAQ:CVLT)

Louisiana State Employees Retirement System bought a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) during the fourth quarter, HoldingsChannel.com reports. The firm bought 12,300 shares of the software maker’s stock, valued at approximately $982,000.

A number of other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in Commvault Systems by 2.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,839 shares of the software maker’s stock worth $1,584,000 after purchasing an additional 455 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its position in Commvault Systems by 3.7% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 230,272 shares of the software maker’s stock worth $18,387,000 after purchasing an additional 8,150 shares in the last quarter. Pacer Advisors Inc. boosted its position in Commvault Systems by 61.2% during the fourth quarter. Pacer Advisors Inc. now owns 8,312 shares of the software maker’s stock worth $664,000 after purchasing an additional 3,155 shares in the last quarter. Diversified Trust Co boosted its position in Commvault Systems by 114.0% during the fourth quarter. Diversified Trust Co now owns 6,401 shares of the software maker’s stock worth $511,000 after purchasing an additional 3,410 shares in the last quarter. Finally, FCF Advisors LLC lifted its position in shares of Commvault Systems by 81.6% in the fourth quarter. FCF Advisors LLC now owns 24,574 shares of the software maker’s stock valued at $1,962,000 after acquiring an additional 11,043 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Commvault Systems news, Director Allison Pickens sold 990 shares of the 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 transaction, the director now owns 7,206 shares of the company’s stock, valued at $682,624.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Commvault Systems news, Director Allison Pickens sold 990 shares of the 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 transaction, the director now owns 7,206 shares of the company’s stock, valued at $682,624.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sanjay Mirchandani sold 21,494 shares of the 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 transaction, the chief executive officer now directly owns 399,356 shares in the company, valued at approximately $39,065,003.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,306 shares of company stock worth $2,276,265. 1.00% of the stock is owned by insiders.

Commvault Systems Stock Performance

Shares of NASDAQ CVLT opened at $96.83 on Thursday. Commvault Systems, Inc. has a 1 year low of $56.76 and a 1 year high of $102.21. The firm’s 50 day moving average price is $97.34 and its 200 day moving average price is $83.47. The firm has a market cap of $4.24 billion, a P/E ratio of -3,226.59 and a beta of 0.62.

Commvault Systems (NASDAQ:CVLT) last announced its 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. Commvault Systems had a negative net margin of 0.09% and a positive return on equity of 32.27%. The firm had revenue of $216.81 million for the quarter, compared to analyst estimates of $208.01 million. During the same quarter last year, the business earned $0.17 earnings per share. Commvault Systems’s revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts predict that Commvault Systems, Inc. will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Royal Bank of Canada lifted their price objective on Commvault Systems from $86.00 to $97.00 and gave the stock 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 price objective for the company in a research report on Wednesday, January 31st. Two 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’s stock. According to data from MarketBeat, the stock presently has an average 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.