State of New Jersey Common Pension Fund D Has $2.03 Million Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

State of New Jersey Common Pension Fund D decreased its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 42.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 16,733 shares of the software maker’s stock after selling 12,465 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Commvault Systems were worth $2,034,000 at the end of the most recent quarter.

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

Commvault Systems Trading Down 0.7 %

Shares of NASDAQ:CVLT opened at $152.14 on Friday. The stock has a market cap of $6.66 billion, a PE ratio of 40.46 and a beta of 0.60. The stock’s fifty day simple moving average is $142.91 and its two-hundred day simple moving average is $119.82. Commvault Systems, Inc. has a 1-year low of $63.70 and a 1-year high of $157.13.

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

Insider Transactions at Commvault Systems

In related news, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Allison Pickens sold 1,232 shares of the firm’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 transaction of $189,592.48. Following the completion of the sale, the director now owns 7,131 shares in the company, valued at approximately $1,097,389.59. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the completion of the sale, the insider now directly owns 94,530 shares in the company, valued at approximately $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 Analyst Weigh In

A number of analysts recently commented on the company. DA Davidson boosted their target price on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, September 6th. KeyCorp upped their target price on Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Royal Bank of Canada increased their target price on Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. Guggenheim restated a “buy” rating and set a $122.00 price target on shares of Commvault Systems in a research note on Tuesday, June 25th. Finally, StockNews.com lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.