Teacher Retirement System of Texas Lowers Stake in CommVault Systems, Inc. (NASDAQ:CVLT)

Teacher Retirement System of Texas decreased its position in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 49.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,660 shares of the software maker’s stock after selling 16,421 shares during the quarter. Teacher Retirement System of Texas’ holdings in CommVault Systems were worth $2,628,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CVLT. Quarry LP grew its position in CommVault Systems by 888.2% in the 4th quarter. Quarry LP now owns 168 shares of the software maker’s stock worth $25,000 after purchasing an additional 151 shares during the period. Whipplewood Advisors LLC raised its stake in shares of CommVault Systems by 584.0% in the first quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker’s stock worth $27,000 after buying an additional 146 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in CommVault Systems by 208.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 185 shares of the software maker’s stock worth $29,000 after acquiring an additional 125 shares during the period. NBC Securities Inc. bought a new position in shares of CommVault Systems in the first quarter worth approximately $43,000. Finally, Versant Capital Management Inc raised its position in shares of CommVault Systems by 183.7% during the 1st quarter. Versant Capital Management Inc now owns 295 shares of the software maker’s stock valued at $47,000 after purchasing an additional 191 shares during the period. 93.50% of the stock is owned by institutional investors.

CommVault Systems Trading Up 1.9%

CVLT opened at $176.16 on Thursday. CommVault Systems, Inc. has a 12 month low of $118.69 and a 12 month high of $192.01. The stock has a fifty day moving average price of $177.98 and a 200-day moving average price of $166.97. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of 104.24 and a beta of 0.73.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, topping the consensus estimate of $0.93 by $0.10. The firm had revenue of $275.04 million during the quarter, compared to analyst estimates of $262.52 million. CommVault Systems had a net margin of 7.64% and a return on equity of 32.31%. CommVault Systems’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.79 EPS. On average, equities research analysts forecast that CommVault Systems, Inc. will post 1.65 EPS for the current year.

Insider Activity

In other news, insider Gary Merrill sold 1,748 shares of CommVault Systems stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $174.91, for a total transaction of $305,742.68. Following the completion of the sale, the insider directly owned 89,923 shares in the company, valued at approximately $15,728,431.93. The trade was a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sanjay Mirchandani sold 1,709 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $299,075.00. Following the completion of the sale, the chief executive officer owned 469,648 shares in the company, valued at approximately $82,188,400. This represents a 0.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,957 shares of company stock worth $859,428 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada raised their target price on shares of CommVault Systems from $175.00 to $185.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 30th. Oppenheimer boosted their target price on shares of CommVault Systems from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. DA Davidson raised their target price on shares of CommVault Systems from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Guggenheim reissued a “neutral” rating on shares of CommVault Systems in a research note on Wednesday, April 23rd. Finally, KeyCorp cut their target price on CommVault Systems from $195.00 to $185.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $182.86.

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.