California Public Employees Retirement System Sells 7,037 Shares of CommVault Systems, Inc. $CVLT

California Public Employees Retirement System decreased its stake in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 11.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,117 shares of the software maker’s stock after selling 7,037 shares during the quarter. California Public Employees Retirement System owned about 0.12% of CommVault Systems worth $4,059,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. State of Wyoming purchased a new stake in shares of CommVault Systems in the second quarter worth $35,000. Banque Cantonale Vaudoise purchased a new position in shares of CommVault Systems in the 3rd quarter worth about $39,000. Advisory Services Network LLC bought a new position in CommVault Systems in the 3rd quarter worth about $47,000. EverSource Wealth Advisors LLC boosted its stake in CommVault Systems by 188.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock worth $47,000 after purchasing an additional 177 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in CommVault Systems during the 4th quarter valued at about $36,000. 93.50% of the stock is owned by institutional investors.

Insider Transactions at CommVault Systems

In other news, CAO Danielle Nicole Abrahamsen sold 1,065 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $105.84, for a total value of $112,719.60. Following the transaction, the chief accounting officer owned 13,581 shares of the company’s stock, valued at approximately $1,437,413.04. The trade was a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gary Merrill sold 4,560 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $105.10, for a total transaction of $479,256.00. Following the transaction, the chief financial officer owned 72,507 shares of the company’s stock, valued at approximately $7,620,485.70. This represents a 5.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 55,279 shares of company stock valued at $5,786,557 over the last 90 days. Company insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CVLT. Wolfe Research started coverage on shares of CommVault Systems in a research note on Friday, May 1st. They set a “peer perform” rating for the company. KeyCorp increased their price target on shares of CommVault Systems from $125.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Stephens increased their target price on CommVault Systems from $135.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, June 16th. DA Davidson reaffirmed a “buy” rating and set a $125.00 price target on shares of CommVault Systems in a report on Monday, April 13th. Finally, Truist Financial boosted their target price on CommVault Systems from $155.00 to $182.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $145.47.

CommVault Systems Price Performance

Shares of NASDAQ:CVLT opened at $142.31 on Monday. The company has a market capitalization of $5.89 billion, a P/E ratio of 89.50 and a beta of 0.79. CommVault Systems, Inc. has a 1-year low of $71.75 and a 1-year high of $200.68. The firm’s 50 day simple moving average is $130.92 and its two-hundred day simple moving average is $106.90. The company has a debt-to-equity ratio of 117.54, a current ratio of 1.95 and a quick ratio of 1.95.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, April 28th. The software maker reported $1.28 EPS for the quarter, beating the consensus estimate of $1.09 by $0.19. The firm had revenue of $311.69 million for the quarter, compared to the consensus estimate of $306.71 million. CommVault Systems had a net margin of 5.97% and a return on equity of 51.64%. The company’s revenue was up 13.3% on a year-over-year basis. During the same period last year, the firm earned $1.03 EPS. Research analysts expect that CommVault Systems, Inc. will post 2.88 EPS for the current fiscal year.

About CommVault Systems

Commvault Systems, Inc is a global provider of data protection and information management software designed to help organizations manage, protect, and activate data across on-premises and cloud environments. Founded in 1996 and headquartered in Tinton Falls, New Jersey, Commvault offers a suite of integrated products and services that enable enterprises to back up, recover, archive, and analyze data. Its flagship solutions include Commvault Complete Data Protection, Commvault HyperScale, and the SaaS-based Metallic portfolio, which deliver scalable and automated data management capabilities across hybrid infrastructure environments.

Commvault’s platform is built on a unified architecture that allows customers to streamline operations, reduce complexity, and ensure data resiliency.