Illinois Municipal Retirement Fund Has $296,000 Holdings in CommVault Systems, Inc. $CVLT

Illinois Municipal Retirement Fund lessened its holdings in CommVault Systems, Inc. (NASDAQ:CVLT) by 58.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,803 shares of the software maker’s stock after selling 5,398 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in CommVault Systems were worth $296,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CVLT. Vanguard Group Inc. increased its stake in CommVault Systems by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 5,675,590 shares of the software maker’s stock valued at $711,492,000 after buying an additional 240,093 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of CommVault Systems by 25.5% during the 4th quarter. First Trust Advisors LP now owns 1,537,034 shares of the software maker’s stock worth $192,683,000 after buying an additional 312,178 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of CommVault Systems by 36.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,239,225 shares of the software maker’s stock valued at $96,447,000 after acquiring an additional 329,243 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of CommVault Systems by 34.5% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,057,077 shares of the software maker’s stock valued at $132,515,000 after acquiring an additional 270,902 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of CommVault Systems by 60.8% in the second quarter. AQR Capital Management LLC now owns 893,385 shares of the software maker’s stock valued at $155,744,000 after acquiring an additional 337,830 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling at CommVault Systems

In other news, CFO Gary Merrill sold 4,554 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $106.70, for a total value of $485,911.80. Following the completion of the sale, the chief financial officer directly owned 72,775 shares of the company’s stock, valued at $7,765,092.50. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Sanjay Mirchandani sold 8,450 shares of CommVault Systems stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $99.13, for a total value of $837,648.50. Following the transaction, the chief executive officer owned 306,927 shares of the company’s stock, valued at $30,425,673.51. This represents a 2.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 55,279 shares of company stock worth $5,786,557 over the last 90 days. Company insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

CVLT has been the topic of several analyst reports. Truist Financial upped their target price on CommVault Systems from $155.00 to $182.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. DA Davidson restated a “buy” rating and issued a $125.00 price target on shares of CommVault Systems in a research note on Monday, April 13th. Jefferies Financial Group started coverage on CommVault Systems in a research report on Monday, April 27th. They set a “hold” rating and a $105.00 price target on the stock. Stephens upped their price objective on CommVault Systems from $135.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 16th. Finally, Zacks Research downgraded CommVault Systems from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $145.47.

CommVault Systems Stock Up 0.8%

Shares of CVLT stock opened at $142.31 on Friday. The company has a debt-to-equity ratio of 117.54, a quick ratio of 1.95 and a current ratio of 1.95. The firm’s 50-day moving average is $130.92 and its 200-day moving average is $107.03. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 89.50 and a beta of 0.79. CommVault Systems, Inc. has a 52-week low of $71.75 and a 52-week high of $200.68.

CommVault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, April 28th. The software maker reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.19. CommVault Systems had a net margin of 5.97% and a return on equity of 51.64%. The business had revenue of $311.69 million during the quarter, compared to the consensus estimate of $306.71 million. During the same period last year, the business posted $1.03 EPS. CommVault Systems’s revenue was up 13.3% on a year-over-year basis. Sell-side analysts predict that CommVault Systems, Inc. will post 2.88 EPS for the current year.

CommVault Systems Profile

Commvault Systems, Inc is a global provider of data protection and information management software designed to help organizations manage, protect, and activate data across on-premises and cloud environments. Founded in 1996 and headquartered in Tinton Falls, New Jersey, Commvault offers a suite of integrated products and services that enable enterprises to back up, recover, archive, and analyze data. Its flagship solutions include Commvault Complete Data Protection, Commvault HyperScale, and the SaaS-based Metallic portfolio, which deliver scalable and automated data management capabilities across hybrid infrastructure environments.

Commvault’s platform is built on a unified architecture that allows customers to streamline operations, reduce complexity, and ensure data resiliency.