State of New Jersey Common Pension Fund D Has $2.03 Million Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 42.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,733 shares of the software maker’s stock after selling 12,465 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Commvault Systems were worth $2,034,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of CVLT. Headlands Technologies LLC increased its holdings in shares of Commvault Systems by 1,678.8% during the second quarter. Headlands Technologies LLC now owns 925 shares of the software maker’s stock worth $112,000 after purchasing an additional 873 shares during the period. Texas Permanent School Fund Corp increased its stake in Commvault Systems by 33.3% during the 2nd quarter. Texas Permanent School Fund Corp now owns 50,949 shares of the software maker’s stock worth $6,194,000 after acquiring an additional 12,736 shares during the period. Choreo LLC acquired a new position in Commvault Systems in the 2nd quarter valued at $727,000. Quest Partners LLC lifted its position in shares of Commvault Systems by 16.2% during the 2nd quarter. Quest Partners LLC now owns 6,676 shares of the software maker’s stock valued at $812,000 after acquiring an additional 931 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in shares of Commvault Systems by 0.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,601,057 shares of the software maker’s stock worth $194,606,000 after purchasing an additional 4,422 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CVLT. KeyCorp boosted their price target on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. StockNews.com downgraded shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 31st. DA Davidson lifted their price objective on shares of Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Piper Sandler upped their target price on Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Finally, Royal Bank of Canada lifted their price target on Commvault Systems from $121.00 to $152.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Commvault Systems has an average rating of “Moderate Buy” and a consensus target price of $140.00.

Commvault Systems Price Performance

Shares of Commvault Systems stock opened at $152.14 on Friday. The company’s 50 day moving average price is $142.91 and its two-hundred day moving average price is $119.82. The firm has a market capitalization of $6.66 billion, a P/E ratio of 40.46 and a beta of 0.60. Commvault Systems, Inc. has a fifty-two week low of $63.70 and a fifty-two week high of $157.13.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.12. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The company had revenue of $224.67 million for the quarter, compared to the consensus estimate of $215.54 million. During the same quarter last year, the business posted $0.29 EPS. Commvault Systems’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, analysts expect that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

Insider Transactions at Commvault Systems

In related news, insider Gary Merrill sold 17,388 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total value of $2,621,414.88. Following the completion of the transaction, the insider now owns 94,530 shares in the company, valued at approximately $14,251,342.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the sale, the director now owns 7,131 shares in the company, valued at approximately $1,097,389.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gary Merrill sold 17,388 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total value of $2,621,414.88. Following the completion of the sale, the insider now directly owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. The disclosure for this sale can be found here. 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.