California State Teachers Retirement System Has $7.18 Million Holdings in CommVault Systems, Inc. $CVLT

California State Teachers Retirement System trimmed its position in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,675 shares of the software maker's stock after selling 955 shares during the quarter. California State Teachers Retirement System owned approximately 0.12% of CommVault Systems worth $7,182,168 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. HB Wealth Management LLC purchased a new stake in shares of CommVault Systems during the second quarter worth about $420,000. AlphaGrep UK Ltd purchased a new stake in CommVault Systems during the second quarter valued at approximately $287,000. Turner Financial Group Inc. purchased a new stake in CommVault Systems during the second quarter worth $427,000. Nykredit A S purchased a new stake in shares of CommVault Systems in the second quarter valued at approximately $285,000. Finally, Benjamin Edwards Inc. purchased a new stake in CommVault Systems during the second quarter worth about $776,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVLT. Jefferies Financial Group reissued a "hold" rating and set a $130.00 price objective on shares of CommVault Systems in a research note on Wednesday, July 29th. Guggenheim reiterated a "buy" rating on shares of CommVault Systems in a research report on Tuesday, July 28th. Stephens lifted their target price on CommVault Systems from $135.00 to $155.00 and gave the company an "overweight" rating in a research report on Tuesday, June 16th. Cantor Fitzgerald reissued a "neutral" rating and set a $132.00 target price on shares of CommVault Systems in a research note on Monday, July 27th. Finally, Truist Financial increased their price objective on CommVault Systems from $155.00 to $182.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $152.62.

CommVault Systems Price Performance

Shares of NASDAQ:CVLT traded up $3.29 during midday trading on Tuesday, reaching $143.50. 301,304 shares of the company's stock traded hands, compared to its average volume of 889,859. The company has a fifty day simple moving average of $138.01 and a two-hundred day simple moving average of $114.96. CommVault Systems, Inc. has a 1 year low of $71.75 and a 1 year high of $198.18. The company has a debt-to-equity ratio of 16.94, a quick ratio of 2.04 and a current ratio of 2.04. The company has a market cap of $5.95 billion, a P/E ratio of 91.37 and a beta of 0.82.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.26. The firm had revenue of $314.13 million for the quarter, compared to analysts' expectations of $310.43 million. CommVault Systems had a return on equity of 88.75% and a net margin of 5.62%.The firm's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 EPS. Equities analysts predict that CommVault Systems, Inc. will post 2.84 EPS for the current fiscal year.

Insider Transactions at CommVault Systems

In other CommVault Systems news, CAO Danielle Abrahamsen sold 486 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total value of $69,400.80. Following the transaction, the chief accounting officer directly owned 12,160 shares in the company, valued at approximately $1,736,448. This trade represents a 3.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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. Also, Director Vivie Lee sold 595 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $134.19, for a total transaction of $79,843.05. Following the completion of the sale, the director owned 15,140 shares of the company's stock, valued at approximately $2,031,636.60. This represents a 3.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 29,602 shares of company stock worth $4,240,541. 0.86% of the stock is currently owned by company insiders.

CommVault Systems Profile

Commvault Systems, Inc develops data protection and cyber resilience software for organizations seeking to secure, manage and recover data across on-premises, cloud and hybrid environments. Its technology is designed to help businesses protect workloads, reduce the risk of data loss and maintain operations following system failures, cyberattacks or other disruptions.

The company's offerings include backup and recovery, disaster recovery, data security, cyber recovery and cloud data management solutions.

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