Resona Asset Management Co. Ltd. Invests $1.20 Million in Commvault Systems, Inc. (NASDAQ:CVLT)

Resona Asset Management Co. Ltd. acquired a new position in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,950 shares of the software maker's stock, valued at approximately $1,200,000.

A number of other large investors have also recently bought and sold shares of CVLT. Integrated Quantitative Investments LLC acquired a new stake in Commvault Systems during the fourth quarter worth about $848,000. Prudential PLC acquired a new stake in Commvault Systems during the fourth quarter valued at $286,000. Bryce Point Capital LLC acquired a new position in shares of Commvault Systems in the fourth quarter worth about $450,000. Kesler Norman & Wride LLC grew its position in shares of Commvault Systems by 29.2% during the 4th quarter. Kesler Norman & Wride LLC now owns 5,143 shares of the software maker's stock valued at $776,000 after acquiring an additional 1,163 shares during the period. Finally, Trexquant Investment LP acquired a new position in Commvault Systems in the 4th quarter worth about $6,291,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Commvault Systems Stock Performance

Shares of Commvault Systems stock traded down $1.22 on Wednesday, reaching $153.29. The company had a trading volume of 76,927 shares, compared to its average volume of 402,602. The firm's 50 day moving average price is $163.83 and its two-hundred day moving average price is $161.68. Commvault Systems, Inc. has a 52-week low of $93.48 and a 52-week high of $190.11. The firm has a market cap of $6.74 billion, a PE ratio of 40.19 and a beta of 0.68.

Analyst Ratings Changes

Several brokerages have recently weighed in on CVLT. Guggenheim reaffirmed a "neutral" rating on shares of Commvault Systems in a research note on Wednesday, January 29th. Cantor Fitzgerald boosted their target price on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. Piper Sandler lowered their price objective on Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. KeyCorp increased their target price on Commvault Systems from $192.00 to $195.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Finally, StockNews.com raised Commvault Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $159.11.

Insider Activity at Commvault Systems

In other Commvault Systems news, CEO Sanjay Mirchandani sold 12,318 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer now owns 427,231 shares in the company, 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 legal filing with the SEC, which is available at the SEC website. Also, insider Gary Merrill sold 3,287 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total value of $614,471.78. Following the completion of the sale, the insider now owns 87,316 shares in the company, valued at approximately $16,322,853.04. The trade was a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

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.