Commvault Systems, Inc. (NASDAQ:CVLT) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 9.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 249,931 shares of the software maker’s stock after selling 26,264 shares during the quarter. Retirement Systems of Alabama owned 0.57% of Commvault Systems worth $19,957,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Commvault Systems by 2.7% during the third quarter. Vanguard Group Inc. now owns 5,426,814 shares of the software maker’s stock valued at $366,907,000 after buying an additional 144,625 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Commvault Systems by 0.3% during the third quarter. Mackenzie Financial Corp now owns 1,917,009 shares of the software maker’s stock worth $128,593,000 after purchasing an additional 6,130 shares during the period. Invesco Ltd. grew its position in Commvault Systems by 50.9% during the third quarter. Invesco Ltd. now owns 629,282 shares of the software maker’s stock valued at $42,546,000 after purchasing an additional 212,325 shares in the last quarter. AQR Capital Management LLC increased its stake in Commvault Systems by 14.9% in the 3rd quarter. AQR Capital Management LLC now owns 345,628 shares of the software maker’s stock valued at $23,368,000 after buying an additional 44,816 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH lifted its position in Commvault Systems by 3.7% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 230,272 shares of the software maker’s stock worth $18,387,000 after buying an additional 8,150 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Commvault Systems Trading Up 1.1 %

Commvault Systems stock opened at $99.43 on Tuesday. Commvault Systems, Inc. has a 52 week low of $57.90 and a 52 week high of $102.21. The business’s 50-day simple moving average is $97.59 and its 200-day simple moving average is $84.20.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.73 by $0.05. Commvault Systems had a positive return on equity of 32.27% and a negative net margin of 0.09%. The company had revenue of $216.81 million for the quarter, compared to the consensus estimate of $208.01 million. During the same period in the previous year, the business posted $0.17 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts predict that Commvault Systems, Inc. will post 1.35 earnings per share for the current year.

Insider Transactions at Commvault Systems

In other news, CFO Gary Merrill sold 822 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $97.25, for a total transaction of $79,939.50. Following the transaction, the chief financial officer now owns 87,945 shares in the company, valued at approximately $8,552,651.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Gary Merrill sold 822 shares of Commvault Systems stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $97.25, for a total transaction of $79,939.50. Following the sale, the chief financial officer now owns 87,945 shares of the company’s stock, valued at approximately $8,552,651.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allison Pickens sold 990 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $94.73, for a total value of $93,782.70. Following the sale, the director now owns 7,206 shares in the company, valued at $682,624.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,306 shares of company stock worth $2,276,265. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of Commvault Systems from $86.00 to $97.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 31st. KeyCorp raised Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 price target for the company in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.