New Jersey State Joint Pension Fund D decreased its stake in shares of Commvault Systems, Inc. (NASDAQ: CVLT – Get Rating) by 7.1% during the first quarter, according to the company in its most recent SEC filing. The fund held 40,992 shares of the software maker after selling 3,120 shares during the period. New Jersey State Joint Pension Fund D’s holdings in Commvault Systems were worth $2,720,000 when it was last filed with the SEC.

Other hedge funds have also changed their positions in the company. Fort Washington Investment Advisors Inc. OH increased its stake in Commvault Systems by 20.2% in Q1. Fort Washington Investment Advisors Inc. OH now owns 214,057 shares of the software maker valued at $14,203,000 after buying an additional 36,040 shares during the period. Gladius Capital Management LP increased its stake in Commvault Systems to 95.8% in Q1. Gladius Capital Management LP now owns 3,530 shares of the software maker valued at $235,000 after buying 1,727 additional shares during the period. Davy Global Fund Management Ltd increased its stake in Commvault Systems by 25.1% in the 1st quarter. Davy Global Fund Management Ltd now owns 12,249 shares of the software maker valued at $813,000 after buying an additional 2,457 shares during the period. FCF Advisors LLC acquired a new stake in Commvault Systems during Q1 valued at approximately $524,000. Finally, Hillsdale Investment Management Inc. increased its stake in Commvault Systems by 29.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 75,400 shares of the software maker valued at $5,004,000 after buying an additional 17,300 shares during the period. Institutional investors and hedge funds own 95.69% of the company’s shares.

Analysts set new price targets

Several brokerages have recently weighed in on CVLT. Lake Street Capital lowered its target price on Commvault Systems from $68.00 to $64.00 in a research note on Wednesday. Wells Fargo & Company cut its price target on Commvault Systems to $75.00 and set an “outperform” rating for the company in a research report Wednesday. Royal Bank of Canada cut its price target on Commvault Systems from $68.00 to $63.00 and set a “hold” rating for the company in a research report Wednesday. Finally, Piper Sandler downgraded Commvault Systems from an “overweight” rating to a “neutral” rating and reduced its price target for the stock from $78.00 to $69.00 in a Wednesday 13 research report. July. Three equity research analysts gave the stock a hold rating, three gave the stock a buy rating and one gave the stock a strong buy rating. According to data from MarketBeat.com, the stock has an average “Moderate Buy” rating and an average target price of $72.67.

Insider activity

Separately, CRO Blasio Riccardo Di sold 17,182 shares of Commvault Systems in a trade on Thursday, June 2. The stock was sold at an average price of $65.03, for a total value of $1,117,345.46. Following the completion of the sale, the executive now directly owns 79,388 shares of the company, valued at approximately $5,162,601.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Separately, director Allison Pickens sold 500 shares of the company in a trade on Thursday, May 12. The stock was sold at an average price of $58.47, for a total value of $29,235.00. As a result of the transaction, the administrator now directly owns 6,758 shares of the company, valued at approximately $395,140.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, CRO Blasio Riccardo Di sold 17,182 shares of the company in a trade on Thursday, June 2. The stock was sold at an average price of $65.03, for a total value of $1,117,345.46. Following the closing of the transaction, the executive now owns 79,388 shares of the company, valued at $5,162,601.64. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 35,485 shares of the company valued at $2,245,490. Insiders of the company hold 1.00% of the shares of the company.

Commvault Systems Price Performance

CVLT stock opened at $56.09 on Friday. The company has a fifty-day moving average price of $61.73 and a 200-day moving average price of $63.25. Commvault Systems, Inc. has a fifty-two week low of $53.87 and a fifty-two week high of $84.22. The stock has a market capitalization of $2.51 billion, a price/earnings ratio of 112.18, a P/E/G ratio of 5.72 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT – Get Rating) last reported results on Tuesday, July 26. The software maker reported EPS of $0.64 for the quarter, beating the consensus estimate of $0.63 by $0.01. The company posted revenue of $197.90 million in the quarter, compared to $195.21 million expected by analysts. Commvault Systems had a return on equity of 13.33% and a net margin of 2.96%. The company’s revenue for the quarter increased 7.9% year over year. During the same period last year, the company achieved EPS of $0.34. On average, stock analysts expect Commvault Systems, Inc. to post earnings per share of 0.97 for the current fiscal year.

Commvault Systems Profile

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Commvault Systems, Inc provides data protection and information management software applications and related services in the United States and around the world. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; and Commvault Complete Data Protection, a data protection solution.

See also

Want to see which other hedge funds hold CVLT? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Commvault Systems, Inc. (NASDAQ:CVLT – Get Rating).

Institutional ownership by quarter for Commvault Systems (NASDAQ:CVLT)



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