VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 11,281 CommVault Systems, Inc. $CVLT

Key Points

• Virginia Retirement Systems acquired 11,281 CommVault Systems shares worth approximately $1.6 million during the second quarter. Institutional investors collectively own 93.5% of CVLT, including a major stake increase by California State Teachers Retirement System.
• CommVault reported quarterly EPS of $1.42, exceeding the $1.16 consensus estimate, while revenue rose 11.4% year over year to $314.1 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $152.62.
• CVLT shares recently traded at $130.07, down 1.1%, while company insiders sold 29,602 shares worth approximately $4.24 million in the past quarter under pre-arranged trading plans.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,281 shares of the software maker's stock, valued at approximately $1,599,000.

A number of other hedge funds have also recently made changes to their positions in the business. California State Teachers Retirement System raised its stake in CommVault Systems by 13,810.8% during the 2nd quarter. California State Teachers Retirement System now owns 7,182,168 shares of the software maker's stock valued at $1,017,929,000 after purchasing an additional 7,130,538 shares during the period. HB Wealth Management LLC bought a new position in CommVault Systems in the 2nd quarter worth approximately $420,000. AlphaGrep UK Ltd purchased a new stake in CommVault Systems during the 2nd quarter valued at approximately $287,000. Turner Financial Group Inc. purchased a new stake in CommVault Systems during the 2nd quarter valued at approximately $427,000. Finally, Nykredit A S bought a new stake in shares of CommVault Systems during the second quarter valued at approximately $285,000. Institutional investors own 93.50% of the company's stock.

CommVault Systems Trading Down 1.1%

CVLT stock opened at $130.07 on Friday. The firm has a fifty day moving average price of $138.21 and a 200 day moving average price of $114.39. CommVault Systems, Inc. has a fifty-two week low of $71.75 and a fifty-two week high of $198.18. The firm has a market cap of $5.39 billion, a PE ratio of 82.85 and a beta of 0.82. The company has a debt-to-equity ratio of 16.94, a quick ratio of 2.04 and a current ratio of 2.04.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CVLT. Mizuho boosted their target price on shares of CommVault Systems from $140.00 to $175.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. Wall Street Zen downgraded shares of CommVault Systems from a "buy" rating to a "hold" rating in a report on Saturday, September 5th. UBS Group reissued a "neutral" rating on shares of CommVault Systems in a report on Monday, July 27th. Oppenheimer raised their price objective on CommVault Systems from $150.00 to $175.00 and gave the company an "outperform" rating in a research report on Friday, July 17th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $132.00 target price on shares of CommVault Systems in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, CommVault Systems presently has a consensus rating of "Moderate Buy" and an average price target of $152.62.

Insider Buying and Selling

In other news, CAO Danielle Abrahamsen sold 486 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer directly owned 12,160 shares of the company's stock, valued at $1,736,448. This trade represents a 3.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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, CEO Sanjay Mirchandani sold 12,437 shares of CommVault Systems stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $143.98, for a total value of $1,790,679.26. Following the completion of the transaction, the chief executive officer owned 269,373 shares of the company's stock, valued at approximately $38,784,324.54. This trade represents a 4.41% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 29,602 shares of company stock valued at $4,240,541 in the last quarter. 0.86% of the stock is currently owned by insiders.

About CommVault Systems

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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