Vestcor Inc Sells 26,618 Shares of CommVault Systems, Inc. $CVLT

Vestcor Inc trimmed its position in CommVault Systems, Inc. (NASDAQ:CVLT) by 59.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,472 shares of the software maker’s stock after selling 26,618 shares during the quarter. Vestcor Inc’s holdings in CommVault Systems were worth $3,487,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CVLT. Federated Hermes Inc. raised its position in shares of CommVault Systems by 9.7% in the third quarter. Federated Hermes Inc. now owns 322,053 shares of the software maker’s stock worth $60,797,000 after buying an additional 28,596 shares in the last quarter. JPMorgan Chase & Co. increased its stake in CommVault Systems by 131.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 382,778 shares of the software maker’s stock worth $72,261,000 after acquiring an additional 217,557 shares during the last quarter. Emerald Advisers LLC boosted its position in shares of CommVault Systems by 47.4% during the 3rd quarter. Emerald Advisers LLC now owns 156,894 shares of the software maker’s stock valued at $29,618,000 after acquiring an additional 50,470 shares during the last quarter. Strengthening Families & Communities LLC boosted its position in shares of CommVault Systems by 2,215.4% during the 3rd quarter. Strengthening Families & Communities LLC now owns 18,037 shares of the software maker’s stock valued at $3,350,000 after acquiring an additional 17,258 shares during the last quarter. Finally, Strs Ohio grew its holdings in shares of CommVault Systems by 161.8% during the third quarter. Strs Ohio now owns 28,800 shares of the software maker’s stock worth $5,437,000 after purchasing an additional 17,800 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Insider Transactions at CommVault Systems

In related news, insider Gary Merrill sold 1,892 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $91.28, for a total transaction of $172,701.76. Following the completion of the sale, the insider directly owned 62,833 shares of the company’s stock, valued at approximately $5,735,396.24. This trade represents a 2.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mirchandani sold 6,480 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $90.28, for a total transaction of $585,014.40. Following the completion of the transaction, the chief executive officer owned 352,919 shares in the company, valued at approximately $31,861,527.32. The trade was a 1.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 10,965 shares of company stock worth $991,812 over the last quarter. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CVLT. KeyCorp lowered their target price on shares of CommVault Systems from $152.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 28th. Mizuho dropped their price objective on shares of CommVault Systems from $180.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, January 28th. Wall Street Zen raised CommVault Systems from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Royal Bank Of Canada reduced their price objective on CommVault Systems from $167.00 to $100.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 28th. Finally, Truist Financial reiterated a “buy” rating and issued a $155.00 target price (down from $175.00) on shares of CommVault Systems in a research report on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $143.58.

CommVault Systems Stock Performance

CVLT stock opened at $80.37 on Wednesday. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 4.06. CommVault Systems, Inc. has a 12-month low of $79.51 and a 12-month high of $200.68. The stock has a market capitalization of $3.53 billion, a PE ratio of 41.43 and a beta of 0.59. The stock’s 50 day simple moving average is $101.14 and its 200 day simple moving average is $135.14.

CommVault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, January 27th. The software maker reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.19. The company had revenue of $313.83 million for the quarter, compared to the consensus estimate of $299.07 million. CommVault Systems had a return on equity of 37.38% and a net margin of 7.58%.CommVault Systems’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 earnings per share. As a group, research analysts forecast that CommVault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

CommVault Systems Company Profile

Commvault Systems, Inc is a global provider of data protection and information management software designed to help organizations manage, protect, and activate data across on-premises and cloud environments. Founded in 1996 and headquartered in Tinton Falls, New Jersey, Commvault offers a suite of integrated products and services that enable enterprises to back up, recover, archive, and analyze data. Its flagship solutions include Commvault Complete Data Protection, Commvault HyperScale, and the SaaS-based Metallic portfolio, which deliver scalable and automated data management capabilities across hybrid infrastructure environments.

Commvault’s platform is built on a unified architecture that allows customers to streamline operations, reduce complexity, and ensure data resiliency.