Ontario Teachers Pension Plan Board Lowers Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

by · The Markets Daily

https://www.americanbankingnews.com/wp-content/timthumb/timthumb.php?w=250&h=150&zc=2&src=https://www.marketbeat.com/logos/commvault-systems-inc-logo.png?v=20221122065344
Ontario Teachers Pension Plan Board lowered its position in Commvault Systems, Inc. (NASDAQ:CVLT – Free Report) by 78.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,299 shares of the software maker’s stock after selling 22,934 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Commvault Systems were worth $457,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CVLT. Raymond James & Associates raised its position in shares of Commvault Systems by 25.7% in the first quarter. Raymond James & Associates now owns 26,393 shares of the software maker’s stock worth $1,751,000 after acquiring an additional 5,402 shares during the period. American Century Companies Inc. raised its position in shares of Commvault Systems by 36.1% in the first quarter. American Century Companies Inc. now owns 23,076 shares of the software maker’s stock worth $1,531,000 after acquiring an additional 6,118 shares during the period. MetLife Investment Management LLC raised its position in shares of Commvault Systems by 34.1% during the 1st quarter. MetLife Investment Management LLC now owns 50,861 shares of the software maker’s stock worth $3,375,000 after purchasing an additional 12,933 shares during the last quarter. Rhumbline Advisers raised its position in shares of Commvault Systems by 1.9% during the 1st quarter. Rhumbline Advisers now owns 126,222 shares of the software maker’s stock worth $8,375,000 after purchasing an additional 2,363 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Commvault Systems by 8.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,331 shares of the software maker’s stock worth $1,084,000 after purchasing an additional 1,243 shares during the last quarter. Institutional investors and hedge funds own 91.56% of the company’s stock.

Commvault Systems Trading Up 2.2 %

CVLT stock opened at $75.21 on Monday. The company has a market cap of $3.29 billion, a price-to-earnings ratio of -179.07 and a beta of 0.59. Commvault Systems, Inc. has a 12 month low of $53.20 and a 12 month high of $78.80. The firm has a 50-day moving average of $68.66 and a two-hundred day moving average of $70.04.

Commvault Systems (NASDAQ:CVLT – Get Free Report) last released its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. Commvault Systems had a negative net margin of 2.28% and a positive return on equity of 23.96%. The company had revenue of $201.00 million during the quarter, compared to the consensus estimate of $195.47 million. As a group, equities analysts forecast that Commvault Systems, Inc. will post 1.3 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on CVLT. StockNews.com began coverage on shares of Commvault Systems in a research report on Thursday, October 5th. They set a “strong-buy” rating for the company. DA Davidson began coverage on shares of Commvault Systems in a research report on Wednesday, August 16th. They set a “buy” rating and a $85.00 price target for the company. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Commvault Systems has an average rating of “Moderate Buy” and an average price target of $77.60.

Read Our Latest Stock Analysis on Commvault Systems

Insider Activity

In other news, CEO Sanjay Mirchandani sold 4,244 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $69.34, for a total value of $294,278.96. Following the completion of the sale, the chief executive officer now owns 450,377 shares of the company’s stock, valued at approximately $31,229,141.18. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Sanjay Mirchandani sold 4,244 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $69.34, for a total value of $294,278.96. Following the completion of the sale, the chief executive officer now owns 450,377 shares of the company’s stock, valued at approximately $31,229,141.18. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Gary Merrill sold 947 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $69.34, for a total transaction of $65,664.98. Following the completion of the sale, the chief financial officer now directly owns 91,294 shares of the company’s stock, valued at approximately $6,330,325.96. The disclosure for this sale can be found here. Insiders sold a total of 20,141 shares of company stock valued at $1,401,371 in the last 90 days. Company insiders own 1.00% of the company’s stock.

About Commvault Systems

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding CVLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commvault Systems, Inc. (NASDAQ:CVLT – Free Report).