Teachers Retirement System of The State of Kentucky Acquires 7,546 Shares of CommVault Systems, Inc. (NASDAQ:CVLT)

Teachers Retirement System of The State of Kentucky increased its position in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 53.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,764 shares of the software maker's stock after buying an additional 7,546 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in CommVault Systems were worth $3,433,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of CommVault Systems by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 5,636,559 shares of the software maker's stock valued at $850,613,000 after purchasing an additional 54,562 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in CommVault Systems by 1.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,909,185 shares of the software maker's stock worth $288,115,000 after acquiring an additional 24,900 shares in the last quarter. Invesco Ltd. increased its holdings in shares of CommVault Systems by 57.7% in the fourth quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker's stock worth $250,527,000 after acquiring an additional 607,643 shares in the last quarter. Geode Capital Management LLC raised its position in shares of CommVault Systems by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 1,288,068 shares of the software maker's stock worth $194,681,000 after purchasing an additional 43,088 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of CommVault Systems by 9.8% during the 4th quarter. Northern Trust Corp now owns 651,973 shares of the software maker's stock valued at $98,389,000 after purchasing an additional 58,239 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Transactions at CommVault Systems

In other news, insider Gary Merrill sold 1,748 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $174.91, for a total transaction of $305,742.68. Following the transaction, the insider directly owned 89,923 shares of the company's stock, valued at approximately $15,728,431.93. This trade represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 sale, the director directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,957 shares of company stock worth $859,428. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CVLT has been the subject of a number of research analyst reports. Wells Fargo & Company lifted 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. Wall Street Zen upgraded CommVault Systems from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Royal Bank Of Canada boosted their price target on CommVault Systems from $175.00 to $185.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 30th. KeyCorp decreased their target price on shares of CommVault Systems from $195.00 to $185.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, Piper Sandler upped their price objective on CommVault Systems from $168.00 to $170.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, CommVault Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $189.13.

CommVault Systems Stock Performance

NASDAQ CVLT opened at $166.86 on Wednesday. The business's fifty day moving average is $177.40 and its 200 day moving average is $167.94. The company has a market capitalization of $7.43 billion, a PE ratio of 98.73 and a beta of 0.73. CommVault Systems, Inc. has a fifty-two week low of $120.99 and a fifty-two week high of $192.01.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.