Abacus FCF Advisors LLC Grows Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Abacus FCF Advisors LLC boosted its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 46.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,980 shares of the software maker's stock after buying an additional 9,176 shares during the period. Abacus FCF Advisors LLC owned approximately 0.07% of Commvault Systems worth $4,373,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Renaissance Technologies LLC boosted its holdings in shares of Commvault Systems by 1.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,909,185 shares of the software maker's stock worth $288,115,000 after purchasing an additional 24,900 shares in the last quarter. Invesco Ltd. boosted its position in Commvault Systems by 57.7% during the 4th quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker's stock valued at $250,527,000 after buying an additional 607,643 shares during the period. Bank of Montreal Can raised its stake in shares of Commvault Systems by 83.6% during the fourth quarter. Bank of Montreal Can now owns 10,304 shares of the software maker's stock valued at $1,555,000 after acquiring an additional 4,691 shares during the last quarter. Polymer Capital Management US LLC bought a new stake in shares of Commvault Systems in the fourth quarter worth about $227,000. Finally, Sierra Summit Advisors LLC bought a new position in shares of Commvault Systems during the fourth quarter valued at approximately $552,000. Institutional investors own 93.50% of the company's stock.

Insider Activity

In other news, insider Gary Merrill sold 3,287 shares of the business's stock in a transaction 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 sale, the insider now owns 87,316 shares of the company's stock, valued at $16,322,853.04. The trade was a 3.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the company's stock in a transaction 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 completion of the sale, the chief executive officer now owns 427,231 shares of the company's stock, valued at $79,447,876.76. This trade represents 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.

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Commvault Systems Price Performance

Commvault Systems stock traded up $1.10 during mid-day trading on Friday, reaching $152.49. 287,098 shares of the stock traded hands, compared to its average volume of 403,896. The stock has a market capitalization of $6.71 billion, a PE ratio of 40.02 and a beta of 0.68. The business's 50-day moving average is $164.54 and its 200-day moving average is $161.71. Commvault Systems, Inc. has a 12-month low of $93.48 and a 12-month high of $190.11.

Analyst Ratings Changes

A number of brokerages have recently commented on CVLT. StockNews.com raised 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. KeyCorp lifted their target price on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a report on Wednesday, January 29th. Finally, Cantor Fitzgerald upped their price target on Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $159.11.

About Commvault Systems

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.