State of Michigan Retirement System Reduces Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

State of Michigan Retirement System reduced its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,312 shares of the software maker’s stock after selling 100 shares during the period. State of Michigan Retirement System’s holdings in Commvault Systems were worth $1,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in shares of Commvault Systems by 3.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker’s stock valued at $296,000 after acquiring an additional 66 shares in the last quarter. CIBC Asset Management Inc increased its stake in Commvault Systems by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker’s stock valued at $213,000 after purchasing an additional 75 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Commvault Systems by 13.7% in the fourth quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker’s stock worth $152,000 after buying an additional 121 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Commvault Systems by 1.0% in the fourth quarter. New York State Common Retirement Fund now owns 13,713 shares of the software maker’s stock worth $2,069,000 after buying an additional 141 shares during the last quarter. Finally, OLD National Bancorp IN lifted its stake in shares of Commvault Systems by 7.1% during the fourth quarter. OLD National Bancorp IN now owns 2,187 shares of the software maker’s stock worth $330,000 after buying an additional 145 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CVLT. Oppenheimer assumed coverage on Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 target price for the company. KeyCorp raised their price objective on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. StockNews.com upgraded Commvault Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. William Blair raised shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $156.44.

Commvault Systems Price Performance

CVLT opened at $154.26 on Friday. The firm has a fifty day moving average price of $165.27 and a 200 day moving average price of $160.43. Commvault Systems, Inc. has a 1 year low of $93.48 and a 1 year high of $190.11. The stock has a market cap of $6.79 billion, a P/E ratio of 40.49 and a beta of 0.62.

Insiders Place Their Bets

In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value of $614,471.78. Following the sale, the insider now directly owns 87,316 shares of the company’s stock, valued at approximately $16,322,853.04. This trade represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanjay Mirchandani sold 12,318 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 directly owns 427,231 shares of the company’s stock, valued at approximately $79,447,876.76. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Commvault Systems Company 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.