Public Employees Retirement System of Ohio Cuts Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Public Employees Retirement System of Ohio trimmed its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,132 shares of the software maker’s stock after selling 865 shares during the period. Public Employees Retirement System of Ohio’s holdings in Commvault Systems were worth $5,713,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CVLT. Zacks Investment Management purchased a new position in Commvault Systems in the 3rd quarter worth approximately $227,000. State Street Corp lifted its holdings in shares of Commvault Systems by 1.6% in the third quarter. State Street Corp now owns 1,594,045 shares of the software maker’s stock worth $245,244,000 after buying an additional 25,082 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Commvault Systems by 27.2% during the third quarter. Stifel Financial Corp now owns 6,753 shares of the software maker’s stock worth $1,039,000 after acquiring an additional 1,445 shares during the last quarter. Point72 DIFC Ltd purchased a new position in Commvault Systems during the third quarter valued at $71,000. Finally, Point72 Asset Management L.P. bought a new stake in Commvault Systems in the 3rd quarter valued at $354,000. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CVLT. Royal Bank of Canada increased their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Guggenheim cut Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. DA Davidson upped their price objective on Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 6th. StockNews.com lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Finally, Oppenheimer assumed coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective for the company. Four 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, Commvault Systems currently has a consensus rating of “Moderate Buy” and an average price target of $151.25.

Insider Buying and Selling

In other news, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction on Friday, November 29th. The stock was sold at an average price of $172.50, for a total transaction of $212,520.00. Following the completion of the sale, the director now directly owns 5,899 shares in the company, valued at approximately $1,017,577.50. This trade represents a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjay Mirchandani sold 10,775 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the completion of the transaction, the chief executive officer now owns 459,969 shares in the company, valued at approximately $76,032,875.70. The trade was a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 13,530 shares of company stock valued at $2,244,755. Insiders own 1.00% of the company’s stock.

Commvault Systems Trading Down 2.6 %

Shares of CVLT opened at $168.69 on Friday. The company’s fifty day simple moving average is $162.21 and its 200-day simple moving average is $143.98. The company has a market cap of $7.38 billion, a P/E ratio of 42.71 and a beta of 0.61. Commvault Systems, Inc. has a twelve month low of $73.33 and a twelve month high of $178.72.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The company had revenue of $233.28 million for the quarter, compared to analyst estimates of $220.76 million. During the same period in the prior year, the company posted $0.30 EPS. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. Analysts predict that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal year.

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.