Teacher Retirement System of Texas Boosts Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Teacher Retirement System of Texas grew its holdings in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 31.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,081 shares of the software maker's stock after buying an additional 7,878 shares during the period. Teacher Retirement System of Texas owned 0.08% of Commvault Systems worth $4,992,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Xponance Inc. lifted its holdings in Commvault Systems by 6.7% during the 4th quarter. Xponance Inc. now owns 6,469 shares of the software maker's stock valued at $976,000 after purchasing an additional 405 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of Commvault Systems by 105.2% during the 4th quarter. Intech Investment Management LLC now owns 49,411 shares of the software maker's stock worth $7,457,000 after buying an additional 25,337 shares during the period. Cibc World Markets Corp acquired a new position in Commvault Systems in the 4th quarter valued at about $616,000. Gallacher Capital Management LLC raised its holdings in Commvault Systems by 11.4% in the 4th quarter. Gallacher Capital Management LLC now owns 1,541 shares of the software maker's stock valued at $233,000 after acquiring an additional 158 shares during the period. Finally, Corient Private Wealth LLC lifted its position in Commvault Systems by 8.3% during the fourth quarter. Corient Private Wealth LLC now owns 2,909 shares of the software maker's stock worth $439,000 after acquiring an additional 224 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at Commvault Systems

In other news, CEO Sanjay Mirchandani sold 12,318 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total value of $2,290,655.28. Following the sale, the chief executive officer now owns 427,231 shares of the company's stock, valued at $79,447,876.76. The trade was a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $614,471.78. Following the completion of the transaction, the insider now owns 87,316 shares of the company's stock, valued at $16,322,853.04. This represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Commvault Systems Stock Performance

CVLT traded up $0.04 during midday trading on Thursday, reaching $165.28. The company had a trading volume of 344,788 shares, compared to its average volume of 374,544. The business has a 50-day moving average price of $166.38 and a two-hundred day moving average price of $161.31. Commvault Systems, Inc. has a 12-month low of $93.48 and a 12-month high of $190.11. The stock has a market cap of $7.27 billion, a PE ratio of 43.38 and a beta of 0.62.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CVLT. William Blair upgraded Commvault Systems from a "market perform" rating to an "outperform" rating in a research note on Thursday, January 30th. Cantor Fitzgerald increased their price target on Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. Guggenheim reaffirmed a "neutral" rating on shares of Commvault Systems in a report on Wednesday, January 29th. KeyCorp boosted their target price on Commvault Systems from $192.00 to $195.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Finally, StockNews.com raised Commvault Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Commvault Systems presently has an average rating of "Moderate Buy" and a consensus price target of $156.44.

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.