Teacher Retirement System of Texas Decreases Stock Position in CommVault Systems, Inc. (NASDAQ:CVLT)

Teacher Retirement System of Texas lowered its stake in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 49.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund 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 quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atria Investments Inc raised its holdings in shares of CommVault Systems by 10.0% in the 4th quarter. Atria Investments Inc now owns 2,950 shares of the software maker's stock valued at $445,000 after buying an additional 268 shares during the period. Raymond James Financial Inc. purchased a new stake in CommVault Systems during the 4th quarter worth about $2,815,000. Callan Family Office LLC purchased a new stake in CommVault Systems during the 4th quarter worth about $236,000. PNC Financial Services Group Inc. increased its holdings in CommVault Systems by 4.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,439 shares of the software maker's stock worth $368,000 after purchasing an additional 93 shares during the period. Finally, AlphaQuest LLC increased its holdings in CommVault Systems by 69.1% during the 4th quarter. AlphaQuest LLC now owns 1,023 shares of the software maker's stock worth $154,000 after purchasing an additional 418 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Activity at CommVault Systems

In other news, insider Gary Merrill sold 1,748 shares of the company'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 of the company's stock, valued at $15,728,431.93. This represents a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Nicola Adamo sold 1,500 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $169.74, for a total transaction of $254,610.00. Following the transaction, the director directly owned 16,178 shares of the company's stock, valued at approximately $2,746,053.72. This represents a 8.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,957 shares of company stock valued at $859,428. 1.00% of the stock is owned by insiders.

CommVault Systems Trading Down 3.0%

Shares of NASDAQ:CVLT traded down $5.02 during midday trading on Friday, hitting $165.05. 334,338 shares of the stock were exchanged, compared to its average volume of 434,894. The stock has a market cap of $7.35 billion, a P/E ratio of 97.66 and a beta of 0.73. CommVault Systems, Inc. has a twelve month low of $119.67 and a twelve month high of $192.01. The company has a 50 day moving average price of $177.91 and a 200-day moving average price of $167.11.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.10. CommVault Systems had a return on equity of 32.31% and a net margin of 7.64%. The business had revenue of $275.04 million during the quarter, compared to the consensus estimate of $262.52 million. During the same quarter in the previous year, the company posted $0.79 EPS. The business's revenue was up 23.2% on a year-over-year basis. On average, equities research analysts expect that CommVault Systems, Inc. will post 1.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CVLT shares. Wells Fargo & Company upped their price target on CommVault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Royal Bank Of Canada upped their price objective on CommVault Systems from $175.00 to $185.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 30th. KeyCorp lowered their price objective on CommVault Systems from $195.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Oppenheimer upped their price objective on CommVault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Finally, Piper Sandler lowered their price objective on CommVault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Four equities research analysts have rated the stock with a hold rating and six have issued a 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 $182.86.

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.