Teachers Retirement System of The State of Kentucky Reduces Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Teachers Retirement System of The State of Kentucky lessened its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,898 shares of the software maker’s stock after selling 380 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Commvault Systems were worth $2,293,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its holdings in shares of Commvault Systems by 7.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock valued at $220,466,000 after acquiring an additional 126,800 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Commvault Systems by 0.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,601,057 shares of the software maker’s stock valued at $194,606,000 after acquiring an additional 4,422 shares during the last quarter. State Street Corp boosted its holdings in shares of Commvault Systems by 1.6% during the 3rd quarter. State Street Corp now owns 1,594,045 shares of the software maker’s stock valued at $245,244,000 after acquiring an additional 25,082 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Commvault Systems by 33.5% during the 2nd quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock valued at $78,882,000 after acquiring an additional 162,722 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Commvault Systems by 25.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after buying an additional 120,779 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Activity

In related news, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $172.50, for a total value of $212,520.00. Following the sale, the director now owns 5,899 shares in the company, valued at approximately $1,017,577.50. The trade was a 17.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mirchandani sold 10,775 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the completion of the sale, the chief executive officer now owns 459,969 shares in the company, valued at $76,032,875.70. This represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,530 shares of company stock worth $2,244,755 over the last quarter. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CVLT. Guggenheim downgraded shares of Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Royal Bank of Canada raised their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. StockNews.com downgraded shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. DA Davidson raised their price objective on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, Oppenheimer began coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $151.25.

Commvault Systems Trading Down 2.6 %

NASDAQ CVLT opened at $168.69 on Monday. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of 42.71 and a beta of 0.61. Commvault Systems, Inc. has a 12 month low of $73.33 and a 12 month high of $178.72. The company’s 50 day moving average is $162.52 and its two-hundred day moving average is $144.85.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. The firm had revenue of $233.28 million for the quarter, compared to analysts’ expectations of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 earnings per share. Sell-side analysts forecast that Commvault Systems, Inc. will post 1.66 EPS for the current year.

About Commvault Systems

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.