Teacher Retirement System of Texas Sells 16,421 Shares of CommVault Systems, Inc. (NASDAQ:CVLT)

Teacher Retirement System of Texas cut its holdings in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 49.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,660 shares of the software maker's stock after selling 16,421 shares during the period. Teacher Retirement System of Texas' holdings in CommVault Systems were worth $2,628,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. WCM Investment Management LLC lifted its position in CommVault Systems by 79.6% during the 1st quarter. WCM Investment Management LLC now owns 122,370 shares of the software maker's stock worth $19,821,000 after acquiring an additional 54,226 shares during the last quarter. KBC Group NV boosted its holdings in CommVault Systems by 13.8% during the first quarter. KBC Group NV now owns 2,066 shares of the software maker's stock valued at $326,000 after acquiring an additional 250 shares during the period. Convergence Financial LLC boosted its holdings in CommVault Systems by 88.5% during the first quarter. Convergence Financial LLC now owns 2,616 shares of the software maker's stock valued at $413,000 after acquiring an additional 1,228 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in CommVault Systems by 4.3% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,560 shares of the software maker's stock valued at $1,350,000 after acquiring an additional 352 shares during the period. Finally, Highland Capital Management LLC bought a new stake in CommVault Systems during the first quarter valued at about $201,000. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CVLT shares. Royal Bank Of Canada upped their price target on shares of CommVault Systems from $175.00 to $185.00 and gave the company a "sector perform" rating in a report on Wednesday, April 30th. Piper Sandler decreased their price target on shares of CommVault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. DA Davidson upped their price target on shares of CommVault Systems from $185.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Oppenheimer upped their price target on shares of CommVault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Finally, KeyCorp reduced their target price on shares of CommVault Systems from $195.00 to $185.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, CommVault Systems currently has a consensus rating of "Moderate Buy" and an average target price of $182.86.

CommVault Systems Trading Down 3.0%

CVLT stock traded down $5.02 during trading on Friday, reaching $165.05. 334,338 shares of the stock were exchanged, compared to its average volume of 435,491. CommVault Systems, Inc. has a twelve month low of $119.67 and a twelve month high of $192.01. The company has a market capitalization of $7.35 billion, a P/E ratio of 97.66 and a beta of 0.73. The stock has a 50 day simple moving average of $177.91 and a 200-day simple moving average of $167.25.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.10. The firm had revenue of $275.04 million during the quarter, compared to analysts' expectations of $262.52 million. CommVault Systems had a net margin of 7.64% and a return on equity of 32.31%. The company's revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 earnings per share. Equities analysts predict that CommVault Systems, Inc. will post 1.65 EPS for the current year.

Insiders Place Their Bets

In other CommVault Systems news, insider Gary Merrill sold 1,748 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $174.91, for a total transaction of $305,742.68. Following the completion of the transaction, the insider owned 89,923 shares in the company, valued at $15,728,431.93. This trade represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjay Mirchandani sold 1,709 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $299,075.00. Following the transaction, the chief executive officer owned 469,648 shares of the company's stock, valued at approximately $82,188,400. This represents a 0.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,957 shares of company stock worth $859,428 over the last quarter. Company insiders own 1.00% of the company's stock.

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.