State of Michigan Retirement System Has $1.66 Million Stock Position in CommVault Systems, Inc. (NASDAQ:CVLT)

State of Michigan Retirement System raised its stake in CommVault Systems, Inc. (NASDAQ:CVLT) by 1.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,512 shares of the software maker’s stock after buying an additional 200 shares during the period. State of Michigan Retirement System’s holdings in CommVault Systems were worth $1,658,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP boosted its position in CommVault Systems by 888.2% in the fourth quarter. Quarry LP now owns 168 shares of the software maker’s stock valued at $25,000 after buying an additional 151 shares in the last quarter. Whipplewood Advisors LLC boosted its position in CommVault Systems by 584.0% in the first quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker’s stock valued at $27,000 after buying an additional 146 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in CommVault Systems by 208.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 185 shares of the software maker’s stock valued at $29,000 after buying an additional 125 shares in the last quarter. NBC Securities Inc. acquired a new stake in CommVault Systems in the first quarter valued at approximately $43,000. Finally, Versant Capital Management Inc boosted its position in CommVault Systems by 183.7% in the first quarter. Versant Capital Management Inc now owns 295 shares of the software maker’s stock valued at $47,000 after buying an additional 191 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

CommVault Systems Stock Up 2.7%

Shares of NASDAQ CVLT opened at $169.58 on Tuesday. CommVault Systems, Inc. has a twelve month low of $119.67 and a twelve month high of $192.01. The firm has a fifty day simple moving average of $177.91 and a 200 day simple moving average of $167.25. The company has a market capitalization of $7.55 billion, a PE ratio of 100.34 and a beta of 0.73.

CommVault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.10. CommVault Systems had a net margin of 7.64% and a return on equity of 32.31%. The business had revenue of $275.04 million during the quarter, compared to the consensus estimate of $262.52 million. During the same quarter last year, the firm earned $0.79 earnings per share. CommVault Systems’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, equities analysts expect that CommVault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

CVLT has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of CommVault Systems from a “hold” rating to a “buy” rating in a research report on Thursday, May 1st. Guggenheim reaffirmed a “neutral” rating on shares of CommVault Systems in a research note on Wednesday, April 23rd. Oppenheimer raised their price target on shares of CommVault Systems from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. KeyCorp dropped their price target on shares of CommVault Systems from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Finally, Piper Sandler raised their price target on shares of CommVault Systems from $168.00 to $170.00 and gave the company a “neutral” rating in a research note on Monday. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, CommVault Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.14.

Insider Buying and Selling

In other CommVault Systems news, Director Nicola Adamo sold 1,500 shares of the firm’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $169.74, for a total value of $254,610.00. Following the completion of the sale, the director directly owned 16,178 shares in the company, valued at approximately $2,746,053.72. This trade represents a 8.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gary Merrill sold 1,748 shares of the firm’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $174.91, for a total transaction of $305,742.68. Following the completion of the sale, the insider owned 89,923 shares of the company’s stock, valued at $15,728,431.93. The trade was a 1.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,957 shares of company stock valued at $859,428 over the last quarter. Insiders own 1.00% of the company’s stock.

CommVault Systems 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.