Retirement Systems of Alabama Sells 26,264 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Retirement Systems of Alabama trimmed its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 9.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 249,931 shares of the software maker’s stock after selling 26,264 shares during the quarter. Retirement Systems of Alabama’s holdings in Commvault Systems were worth $19,957,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Headlands Technologies LLC acquired a new stake in Commvault Systems during the 4th quarter valued at approximately $67,000. PNC Financial Services Group Inc. increased its position in shares of Commvault Systems by 28.5% during the third quarter. PNC Financial Services Group Inc. now owns 1,429 shares of the software maker’s stock worth $97,000 after buying an additional 317 shares during the period. Teza Capital Management LLC bought a new position in Commvault Systems during the third quarter worth $253,000. DekaBank Deutsche Girozentrale acquired a new position in Commvault Systems in the third quarter valued at $269,000. Finally, CenterBook Partners LP acquired a new position in Commvault Systems in the third quarter valued at $272,000. Institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CVLT shares. KeyCorp raised Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 price objective for the company in a research report on Wednesday, January 31st. Royal Bank of Canada boosted their price target on Commvault Systems from $86.00 to $97.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Commvault Systems currently has an average rating of “Moderate Buy” and an average target price of $85.60.

Insider Buying and Selling at Commvault Systems

In related news, Director Allison Pickens sold 990 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $94.73, for a total value of $93,782.70. Following the transaction, the director now owns 7,206 shares of the company’s stock, valued at approximately $682,624.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Sanjay Mirchandani sold 21,494 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $97.82, for a total transaction of $2,102,543.08. Following the completion of the sale, the chief executive officer now directly owns 399,356 shares of the company’s stock, valued at $39,065,003.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Allison Pickens sold 990 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $94.73, for a total value of $93,782.70. Following the completion of the transaction, the director now directly owns 7,206 shares in the company, valued at approximately $682,624.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,306 shares of company stock worth $2,276,265. 1.00% of the stock is owned by corporate insiders.

Commvault Systems Price Performance

CVLT stock opened at $99.43 on Tuesday. Commvault Systems, Inc. has a 1 year low of $57.90 and a 1 year high of $102.21. The company’s 50-day moving average is $97.59 and its 200-day moving average is $84.20.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.05. Commvault Systems had a positive return on equity of 32.27% and a negative net margin of 0.09%. The business had revenue of $216.81 million for the quarter, compared to analyst estimates of $208.01 million. During the same quarter in the prior year, the company earned $0.17 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities analysts predict that Commvault Systems, Inc. will post 1.35 EPS 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.