Louisiana State Employees Retirement System Sells 200 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Louisiana State Employees Retirement System reduced its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,100 shares of the software maker’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Commvault Systems were worth $1,862,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. National Bank of Canada FI acquired a new stake in Commvault Systems during the 2nd quarter worth $30,000. Hexagon Capital Partners LLC raised its stake in Commvault Systems by 124.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock worth $43,000 after buying an additional 196 shares during the period. Signaturefd LLC raised its stake in Commvault Systems by 70.8% during the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after buying an additional 170 shares during the period. Strategic Financial Concepts LLC acquired a new stake in Commvault Systems during the 2nd quarter worth $56,000. Finally, GAMMA Investing LLC raised its stake in Commvault Systems by 140.5% during the 2nd quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock worth $64,000 after buying an additional 309 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.89, for a total value of $189,592.48. Following the transaction, the director now directly owns 7,131 shares of the company’s stock, valued at $1,097,389.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the 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 of the company’s stock, valued at $14,251,342.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 7,131 shares in the company, valued at $1,097,389.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on CVLT shares. DA Davidson raised their price objective on Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Piper Sandler lifted their price target on Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Royal Bank of Canada lifted their price target on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research note on Wednesday. StockNews.com raised Commvault Systems from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 24th. Finally, Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Commvault Systems presently has a consensus rating of “Moderate Buy” and an average price target of $144.29.

Commvault Systems Trading Down 4.4 %

NASDAQ CVLT opened at $162.25 on Thursday. The firm’s fifty day moving average price is $149.48 and its two-hundred day moving average price is $129.74. Commvault Systems, Inc. has a 1 year low of $64.32 and a 1 year high of $171.26. The firm has a market capitalization of $7.10 billion, a P/E ratio of 43.15 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly 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 firm had revenue of $224.67 million for the quarter, compared to the consensus estimate of $215.54 million. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The business’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 earnings per share. On average, research analysts anticipate that Commvault Systems, Inc. will post 1.66 EPS 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.