New York State Common Retirement Fund Buys 1,871 Shares of CommVault Systems, Inc. (NASDAQ:CVLT)

New York State Common Retirement Fund raised its stake in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 13.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,584 shares of the software maker's stock after purchasing an additional 1,871 shares during the period. New York State Common Retirement Fund's holdings in CommVault Systems were worth $2,459,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in shares of CommVault Systems in the fourth quarter valued at about $2,815,000. Commonwealth Equity Services LLC lifted its position in CommVault Systems by 8.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 3,040 shares of the software maker's stock worth $459,000 after purchasing an additional 244 shares during the period. Corient Private Wealth LLC lifted its position in CommVault Systems by 8.3% during the fourth quarter. Corient Private Wealth LLC now owns 2,909 shares of the software maker's stock worth $439,000 after purchasing an additional 224 shares during the period. American Century Companies Inc. lifted its position in CommVault Systems by 1.6% during the fourth quarter. American Century Companies Inc. now owns 19,873 shares of the software maker's stock worth $2,999,000 after purchasing an additional 304 shares during the period. Finally, Sei Investments Co. lifted its position in CommVault Systems by 63.9% during the fourth quarter. Sei Investments Co. now owns 157,111 shares of the software maker's stock worth $23,708,000 after purchasing an additional 61,243 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of CommVault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Oppenheimer upped their price objective on shares of CommVault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. DA Davidson dropped their target price on shares of CommVault Systems from $215.00 to $200.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Wall Street Zen raised shares of CommVault Systems from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Finally, Royal Bank Of Canada increased their target price on shares of CommVault Systems from $175.00 to $185.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $189.13.

Insider Activity at CommVault Systems

In related news, Director Nicola Adamo sold 1,500 shares of CommVault Systems 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 owned 16,178 shares of the company's stock, valued at approximately $2,746,053.72. This trade represents a 8.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sanjay Mirchandani sold 1,709 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $299,075.00. Following the transaction, the chief executive officer owned 469,648 shares in the company, valued at approximately $82,188,400. This trade represents a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,957 shares of company stock valued at $859,428. 1.00% of the stock is owned by company insiders.

CommVault Systems Price Performance

NASDAQ CVLT traded down $1.62 during trading hours on Friday, reaching $164.35. The company's stock had a trading volume of 463,502 shares, compared to its average volume of 386,145. The firm has a fifty day simple moving average of $176.26 and a 200-day simple moving average of $168.04. The stock has a market cap of $7.32 billion, a P/E ratio of 97.25 and a beta of 0.73. CommVault Systems, Inc. has a 52 week low of $121.78 and a 52 week high of $192.01.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, topping the consensus estimate of $0.93 by $0.10. CommVault Systems had a net margin of 7.64% and a return on equity of 32.31%. The company 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 posted $0.79 EPS. The company's quarterly revenue was up 23.2% on a year-over-year basis. On average, research analysts expect that CommVault Systems, Inc. will post 1.65 earnings per share for the current year.

About CommVault Systems

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.