Texas Permanent School Fund Corp Has $6.19 Million Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Texas Permanent School Fund Corp grew its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 33.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,949 shares of the software maker’s stock after acquiring an additional 12,736 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Commvault Systems were worth $6,194,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Champlain Investment Partners LLC lifted its position in shares of Commvault Systems by 58.5% in the first quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker’s stock worth $83,704,000 after purchasing an additional 304,459 shares in the last quarter. Norges Bank bought a new stake in Commvault Systems during the 4th quarter worth about $24,134,000. Acadian Asset Management LLC boosted its stake in shares of Commvault Systems by 16.3% during the 1st quarter. Acadian Asset Management LLC now owns 1,596,635 shares of the software maker’s stock worth $161,914,000 after buying an additional 223,347 shares during the last quarter. M&G Plc bought a new position in shares of Commvault Systems in the 2nd quarter valued at about $10,265,000. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of Commvault Systems by 247.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 110,567 shares of the software maker’s stock valued at $11,205,000 after acquiring an additional 78,713 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Commvault Systems Stock Performance

Shares of CVLT opened at $145.51 on Thursday. The firm’s 50-day simple moving average is $138.70 and its 200 day simple moving average is $117.17. The firm has a market cap of $6.37 billion, a P/E ratio of 38.70 and a beta of 0.60. Commvault Systems, Inc. has a 52 week low of $63.70 and a 52 week high of $157.13.

Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, July 30th. The software maker reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. The company had revenue of $224.67 million for the quarter, compared to analyst estimates of $215.54 million. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.29 earnings per share. As a group, equities analysts forecast that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Gary Merrill sold 17,388 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total value of $2,621,414.88. Following the transaction, the insider now directly owns 94,530 shares in the company, valued at $14,251,342.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.89, for a total transaction of $189,592.48. Following the completion of the sale, the director now directly owns 7,131 shares in the company, valued at approximately $1,097,389.59. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Gary Merrill sold 17,388 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total value of $2,621,414.88. Following the sale, the insider now directly owns 94,530 shares in the company, valued at $14,251,342.80. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CVLT has been the subject of several recent research reports. KeyCorp increased their price target on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 31st. DA Davidson increased their price target on shares of Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Guggenheim reissued a “buy” rating and issued a $122.00 price objective on shares of Commvault Systems in a research report on Tuesday, June 25th. Finally, Piper Sandler upped their target price on shares of Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $140.00.

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.