California State Teachers Retirement System Buys 9,663 Shares of CommVault Systems, Inc. $CVLT

California State Teachers Retirement System boosted its stake in CommVault Systems, Inc. (NASDAQ:CVLT) by 23.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 51,630 shares of the software maker’s stock after purchasing an additional 9,663 shares during the period. California State Teachers Retirement System’s holdings in CommVault Systems were worth $4,021,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of CVLT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in CommVault Systems by 8.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,410 shares of the software maker’s stock valued at $23,255,000 after purchasing an additional 11,700 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in CommVault Systems in the second quarter worth $327,000. Cetera Investment Advisers increased its position in CommVault Systems by 13.4% in the second quarter. Cetera Investment Advisers now owns 2,486 shares of the software maker’s stock worth $433,000 after buying an additional 294 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of CommVault Systems by 188.3% in the second quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $47,000 after buying an additional 177 shares during the period. Finally, Guggenheim Capital LLC lifted its position in shares of CommVault Systems by 43.8% during the 2nd quarter. Guggenheim Capital LLC now owns 4,245 shares of the software maker’s stock valued at $740,000 after buying an additional 1,293 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Gary Merrill sold 4,554 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $106.70, for a total transaction of $485,911.80. Following the completion of the transaction, the chief financial officer directly owned 72,775 shares in the company, valued at $7,765,092.50. The trade was a 5.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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, CAO Danielle Nicole Abrahamsen sold 254 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $150.00, for a total transaction of $38,100.00. Following the completion of the transaction, the chief accounting officer directly owned 13,156 shares in the company, valued at approximately $1,973,400. The trade was a 1.89% 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. Insiders have sold 55,279 shares of company stock worth $5,786,557 in the last three months. 0.86% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on CVLT. Stephens lifted their price objective on CommVault Systems from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, June 16th. Jefferies Financial Group reiterated a “hold” rating and set a $130.00 target price on shares of CommVault Systems in a research report on Wednesday, July 29th. Oppenheimer lifted their target price on shares of CommVault Systems from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Royal Bank Of Canada boosted their price target on shares of CommVault Systems from $100.00 to $110.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 29th. Finally, Truist Financial raised their price objective on shares of CommVault Systems from $155.00 to $182.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.47.

CommVault Systems Stock Up 1.4%

Shares of NASDAQ CVLT opened at $135.27 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 16.94. The company has a market cap of $5.61 billion, a P/E ratio of 86.16 and a beta of 0.81. CommVault Systems, Inc. has a 52 week low of $71.75 and a 52 week high of $198.18. The business has a 50-day simple moving average of $135.03 and a two-hundred day simple moving average of $107.24.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.26. CommVault Systems had a return on equity of 88.75% and a net margin of 5.62%.The firm had revenue of $314.13 million for the quarter, compared to analysts’ expectations of $310.43 million. During the same period in the prior year, the business posted $1.01 earnings per share. The company’s revenue was up 11.4% on a year-over-year basis. Research analysts anticipate that CommVault Systems, Inc. will post 2.84 earnings per share 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.