Mutual of America Capital Management LLC Lowers Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Mutual of America Capital Management LLC reduced its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 4.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,851 shares of the software maker’s stock after selling 1,164 shares during the period. Mutual of America Capital Management LLC owned approximately 0.06% of Commvault Systems worth $3,021,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC bought a new position in Commvault Systems during the fourth quarter valued at approximately $280,000. Norges Bank bought a new position in shares of Commvault Systems during the 4th quarter valued at approximately $24,134,000. UBS Group AG grew its holdings in shares of Commvault Systems by 71.3% in the fourth quarter. UBS Group AG now owns 77,424 shares of the software maker’s stock valued at $6,182,000 after purchasing an additional 32,217 shares in the last quarter. Trexquant Investment LP increased its position in Commvault Systems by 105.3% in the fourth quarter. Trexquant Investment LP now owns 17,426 shares of the software maker’s stock worth $1,391,000 after purchasing an additional 8,936 shares during the last quarter. Finally, US Bancorp DE raised its stake in Commvault Systems by 5.8% during the fourth quarter. US Bancorp DE now owns 10,063 shares of the software maker’s stock valued at $804,000 after purchasing an additional 556 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Transactions at Commvault Systems

In related news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.89, for a total value of $189,592.48. Following the completion of the sale, the director now directly owns 7,131 shares of the company’s stock, valued at $1,097,389.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total value of $2,621,414.88. Following the transaction, the insider now directly owns 94,530 shares in the company, valued at approximately $14,251,342.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $1,097,389.59. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Guggenheim restated a “buy” rating and set a $122.00 target price on shares of Commvault Systems in a research report on Tuesday, June 25th. Royal Bank of Canada raised their price objective 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. DA Davidson boosted their target price on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, September 6th. KeyCorp raised their price target on Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler boosted their price objective on shares of Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Commvault Systems Trading Up 2.2 %

NASDAQ CVLT opened at $155.51 on Tuesday. The stock has a market cap of $6.81 billion, a PE ratio of 41.36 and a beta of 0.60. Commvault Systems, Inc. has a 12 month low of $63.70 and a 12 month high of $157.13. The company’s 50-day moving average price is $143.55 and its 200-day moving average price is $120.52.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings results 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 net margin of 20.19% and a return on equity of 32.16%. The firm had revenue of $224.67 million during the quarter, compared to the consensus estimate of $215.54 million. During the same quarter in the previous year, the firm posted $0.29 earnings per share. The company’s revenue was up 13.4% on a year-over-year basis. As a group, sell-side analysts forecast that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

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.