Arizona State Retirement System Purchases 189 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Arizona State Retirement System grew its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 1.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,224 shares of the software maker’s stock after acquiring an additional 189 shares during the period. Arizona State Retirement System’s holdings in Commvault Systems were worth $1,486,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Victory Capital Management Inc. raised its stake in shares of Commvault Systems by 5.2% in the second quarter. Victory Capital Management Inc. now owns 178,029 shares of the software maker’s stock worth $21,643,000 after acquiring an additional 8,786 shares during the last quarter. National Bank of Canada FI bought a new position in shares of Commvault Systems in the second quarter worth about $30,000. TD Asset Management Inc raised its stake in shares of Commvault Systems by 355.3% in the second quarter. TD Asset Management Inc now owns 17,300 shares of the software maker’s stock worth $2,103,000 after acquiring an additional 13,500 shares during the last quarter. Simon Quick Advisors LLC bought a new position in shares of Commvault Systems in the second quarter worth about $243,000. Finally, Rhumbline Advisers raised its stake in shares of Commvault Systems by 0.8% in the second quarter. Rhumbline Advisers now owns 142,303 shares of the software maker’s stock worth $17,300,000 after acquiring an additional 1,100 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CVLT shares. Wells Fargo & Company boosted their target price on shares of Commvault Systems from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. Piper Sandler boosted their price target on shares of Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Guggenheim reissued a “buy” rating and set a $122.00 price target on shares of Commvault Systems in a research note on Tuesday, June 25th. Royal Bank of Canada boosted their price target on shares of Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 31st. Finally, KeyCorp boosted their price target on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $140.00.

Insider Activity

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

Commvault Systems Stock Performance

Shares of NASDAQ CVLT opened at $146.92 on Friday. The stock has a market cap of $6.43 billion, a P/E ratio of 39.07 and a beta of 0.60. The firm has a 50 day moving average price of $139.11 and a 200 day moving average price of $117.36. Commvault Systems, Inc. has a 52-week low of $63.70 and a 52-week high of $157.13.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.12. The firm had revenue of $224.67 million during the quarter, compared to analysts’ expectations of $215.54 million. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.29 earnings per share. Analysts predict that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal 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.