Louisiana State Employees Retirement System Takes Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Louisiana State Employees Retirement System bought a new stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,300 shares of the software maker’s stock, valued at approximately $982,000.

A number of other large investors have also recently made changes to their positions in CVLT. SG Americas Securities LLC boosted its stake in shares of Commvault Systems by 105.6% during the third quarter. SG Americas Securities LLC now owns 30,129 shares of the software maker’s stock valued at $2,037,000 after purchasing an additional 15,477 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of Commvault Systems by 1,581.9% during the third quarter. Exchange Traded Concepts LLC now owns 8,998 shares of the software maker’s stock valued at $608,000 after purchasing an additional 8,463 shares during the period. Simplicity Solutions LLC boosted its stake in shares of Commvault Systems by 7.6% during the third quarter. Simplicity Solutions LLC now owns 5,642 shares of the software maker’s stock valued at $381,000 after purchasing an additional 397 shares during the period. Lindenwold Advisors INC boosted its stake in shares of Commvault Systems by 2.7% during the third quarter. Lindenwold Advisors INC now owns 7,179 shares of the software maker’s stock valued at $485,000 after purchasing an additional 186 shares during the period. Finally, Bailard Inc. boosted its stake in shares of Commvault Systems by 14.0% during the third quarter. Bailard Inc. now owns 4,900 shares of the software maker’s stock valued at $331,000 after purchasing an additional 600 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Commvault Systems news, Director Allison Pickens sold 990 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $94.73, for a total value of $93,782.70. Following the completion of the transaction, the director now directly owns 7,206 shares in the company, valued at $682,624.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Sanjay Mirchandani sold 21,494 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $97.82, for a total value of $2,102,543.08. Following the transaction, the chief executive officer now owns 399,356 shares in the company, valued at approximately $39,065,003.92. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Allison Pickens sold 990 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $94.73, for a total transaction of $93,782.70. Following the completion of the transaction, the director now owns 7,206 shares in the company, valued at approximately $682,624.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,306 shares of company stock worth $2,276,265. 1.00% of the stock is owned by corporate insiders.

Commvault Systems Price Performance

NASDAQ:CVLT opened at $96.83 on Thursday. The firm has a market cap of $4.24 billion, a PE ratio of -3,226.59 and a beta of 0.62. The company has a 50-day moving average of $97.34 and a 200 day moving average of $83.47. Commvault Systems, Inc. has a 1-year low of $56.76 and a 1-year high of $102.21.

Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The business had revenue of $216.81 million during the quarter, compared to the consensus estimate of $208.01 million. Commvault Systems had a negative net margin of 0.09% and a positive return on equity of 32.27%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 earnings per share. Sell-side analysts anticipate that Commvault Systems, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Royal Bank of Canada upped their price objective on shares of Commvault Systems from $86.00 to $97.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 31st. KeyCorp raised shares of Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 price objective for the company in a research note on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.60.

Commvault Systems 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.