Arizona State Retirement System Sells 241 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Arizona State Retirement System reduced its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,653 shares of the software maker’s stock after selling 241 shares during the quarter. Arizona State Retirement System’s holdings in Commvault Systems were worth $930,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CVLT. Raymond James & Associates lifted its position in Commvault Systems by 25.7% during the first quarter. Raymond James & Associates now owns 26,393 shares of the software maker’s stock valued at $1,751,000 after purchasing an additional 5,402 shares during the last quarter. American Century Companies Inc. increased its position in shares of Commvault Systems by 36.1% in the first quarter. American Century Companies Inc. now owns 23,076 shares of the software maker’s stock valued at $1,531,000 after acquiring an additional 6,118 shares during the period. MetLife Investment Management LLC increased its position in shares of Commvault Systems by 34.1% in the first quarter. MetLife Investment Management LLC now owns 50,861 shares of the software maker’s stock valued at $3,375,000 after acquiring an additional 12,933 shares during the period. Rhumbline Advisers boosted its stake in shares of Commvault Systems by 1.9% during the 1st quarter. Rhumbline Advisers now owns 126,222 shares of the software maker’s stock valued at $8,375,000 after purchasing an additional 2,363 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Commvault Systems by 8.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,331 shares of the software maker’s stock valued at $1,084,000 after purchasing an additional 1,243 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Commvault Systems Price Performance

CVLT opened at $95.63 on Wednesday. The firm has a market cap of $4.19 billion, a P/E ratio of -3,180.94 and a beta of 0.62. The company has a 50 day simple moving average of $97.04 and a two-hundred day simple moving average of $82.21. Commvault Systems, Inc. has a 1-year low of $56.76 and a 1-year high of $102.21.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data 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 business had revenue of $216.81 million for the quarter, compared to the consensus estimate of $208.01 million. Commvault Systems had a positive return on equity of 32.27% and a negative net margin of 0.09%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS. Equities analysts anticipate that Commvault Systems, Inc. will post 1.35 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CVLT shares. KeyCorp upgraded 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 note on Wednesday, January 31st. 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 report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Commvault Systems has a consensus rating of “Moderate Buy” and a consensus target price of $85.60.

Insider Activity

In other news, CEO Sanjay Mirchandani sold 21,494 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $97.82, for a total value of $2,102,543.08. Following the sale, the chief executive officer now owns 399,356 shares of the company’s stock, valued at $39,065,003.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Commvault Systems news, Director Allison Pickens sold 990 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $94.73, for a total value of $93,782.70. Following the transaction, the director now directly owns 7,206 shares in the company, valued at approximately $682,624.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanjay Mirchandani sold 21,494 shares of the company’s stock in a transaction dated 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 completion of the transaction, 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 sold 23,306 shares of company stock valued at $2,276,265 in the last ninety days. Insiders own 1.00% of the company’s stock.

Commvault Systems Company 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.