Illinois Municipal Retirement Fund Has $296,000 Stock Position in CommVault Systems, Inc. $CVLT

Illinois Municipal Retirement Fund reduced its stake in CommVault Systems, Inc. (NASDAQ:CVLT) by 58.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,803 shares of the software maker’s stock after selling 5,398 shares during the period. Illinois Municipal Retirement Fund’s holdings in CommVault Systems were worth $296,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CVLT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in CommVault Systems by 8.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,410 shares of the software maker’s stock worth $23,255,000 after buying an additional 11,700 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of CommVault Systems during the 2nd quarter worth about $327,000. Cetera Investment Advisers increased its stake in shares of CommVault Systems by 13.4% in the 2nd quarter. Cetera Investment Advisers now owns 2,486 shares of the software maker’s stock valued at $433,000 after acquiring an additional 294 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of CommVault Systems by 188.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $47,000 after acquiring an additional 177 shares during the last quarter. Finally, Guggenheim Capital LLC increased its stake in shares of CommVault Systems by 43.8% in the 2nd quarter. Guggenheim Capital LLC now owns 4,245 shares of the software maker’s stock valued at $740,000 after acquiring an additional 1,293 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on CVLT. Zacks Research lowered shares of CommVault Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. KeyCorp upped their target price on shares of CommVault Systems from $125.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Mizuho increased their target price on shares of CommVault Systems from $140.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Truist Financial increased their target price on shares of CommVault Systems from $155.00 to $182.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Finally, Scotiabank lifted their price target on shares of CommVault Systems from $105.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $145.47.

CommVault Systems Trading Up 0.8%

NASDAQ:CVLT opened at $142.31 on Friday. CommVault Systems, Inc. has a fifty-two week low of $71.75 and a fifty-two week high of $200.68. The company has a debt-to-equity ratio of 117.54, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market capitalization of $5.89 billion, a PE ratio of 89.50 and a beta of 0.79. The business’s 50-day simple moving average is $130.92 and its 200-day simple moving average is $107.03.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, April 28th. The software maker reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.19. CommVault Systems had a return on equity of 51.64% and a net margin of 5.97%.The business had revenue of $311.69 million during the quarter, compared to analyst estimates of $306.71 million. During the same period in the previous year, the firm earned $1.03 EPS. CommVault Systems’s quarterly revenue was up 13.3% compared to the same quarter last year. Sell-side analysts expect that CommVault Systems, Inc. will post 2.88 earnings per share for the current fiscal year.

Insider Activity at CommVault Systems

In related news, CAO Danielle Nicole Abrahamsen sold 254 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $150.00, for a total value of $38,100.00. Following the completion of the transaction, the chief accounting officer directly owned 13,156 shares of the company’s stock, valued at approximately $1,973,400. This represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mirchandani sold 8,450 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $99.13, for a total value of $837,648.50. Following the transaction, the chief executive officer owned 306,927 shares of the company’s stock, valued at approximately $30,425,673.51. This trade represents a 2.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 55,279 shares of company stock valued at $5,786,557. 0.86% of the stock is owned by corporate insiders.

About CommVault Systems

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.