Commvault Systems, Inc. (NASDAQ:CVLT) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 54.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 71,999 shares of the software maker’s stock after selling 87,494 shares during the quarter. California Public Employees Retirement System’s holdings in Commvault Systems were worth $10,865,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Commvault Systems by 604.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker’s stock valued at $98,479,000 after acquiring an additional 555,656 shares during the last quarter. Norges Bank acquired a new stake in shares of Commvault Systems during the 4th quarter worth about $79,619,000. Vestcor Inc grew its holdings in shares of Commvault Systems by 1,552.4% during the third quarter. Vestcor Inc now owns 81,693 shares of the software maker’s stock worth $12,568,000 after buying an additional 76,749 shares in the last quarter. WCM Investment Management LLC acquired a new position in shares of Commvault Systems in the fourth quarter valued at approximately $10,303,000. Finally, Sei Investments Co. raised its position in shares of Commvault Systems by 63.9% in the fourth quarter. Sei Investments Co. now owns 157,111 shares of the software maker’s stock valued at $23,708,000 after buying an additional 61,243 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CVLT. Guggenheim reaffirmed a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, January 29th. KeyCorp lifted their price objective on Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Cantor Fitzgerald upped their target price on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. William Blair raised Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. Finally, StockNews.com raised shares of Commvault Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $156.44.

Commvault Systems Price Performance

NASDAQ CVLT opened at $139.35 on Monday. Commvault Systems, Inc. has a 1-year low of $93.48 and a 1-year high of $190.11. The firm has a market capitalization of $6.13 billion, a P/E ratio of 36.57 and a beta of 0.68. The business’s 50-day simple moving average is $165.87 and its 200-day simple moving average is $161.97.

Insider Buying and Selling at Commvault Systems

In other news, CEO Sanjay Mirchandani sold 12,318 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total value of $2,290,655.28. Following the transaction, the chief executive officer now owns 427,231 shares of the company’s stock, valued at approximately $79,447,876.76. This trade represents a 2.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $614,471.78. Following the transaction, the insider now owns 87,316 shares in the company, valued at $16,322,853.04. The trade was a 3.63 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Commvault Systems 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.