Bank of New York Mellon Corp Sells 18,685 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Bank of New York Mellon Corp decreased its position in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 390,551 shares of the software maker's stock after selling 18,685 shares during the period. Bank of New York Mellon Corp owned 0.89% of Commvault Systems worth $58,938,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Commvault Systems by 604.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker's stock worth $98,479,000 after purchasing an additional 555,656 shares during the last quarter. Summit Partners Public Asset Management LLC bought a new stake in Commvault Systems in the third quarter valued at approximately $67,722,000. Charles Schwab Investment Management Inc. raised its holdings in Commvault Systems by 25.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker's stock worth $90,278,000 after purchasing an additional 120,779 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Commvault Systems during the third quarter worth $15,264,000. Finally, FMR LLC grew its holdings in shares of Commvault Systems by 26.1% in the 3rd quarter. FMR LLC now owns 466,315 shares of the software maker's stock valued at $71,743,000 after buying an additional 96,525 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Commvault Systems news, 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 transaction, the chief executive officer now directly owns 427,231 shares of the company's stock, valued at $79,447,876.76. This represents a 2.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value of $614,471.78. Following the sale, the insider now directly owns 87,316 shares of the company's stock, valued at $16,322,853.04. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

Commvault Systems Trading Up 1.8 %

Shares of CVLT traded up $2.98 during mid-day trading on Wednesday, reaching $167.92. The company's stock had a trading volume of 363,106 shares, compared to its average volume of 367,795. The business has a 50-day simple moving average of $165.05 and a two-hundred day simple moving average of $160.29. Commvault Systems, Inc. has a 1-year low of $93.48 and a 1-year high of $190.11. The stock has a market cap of $7.39 billion, a P/E ratio of 44.07 and a beta of 0.65.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CVLT. Oppenheimer started coverage on Commvault Systems in a research note on Wednesday, November 13th. They set an "outperform" rating and a $200.00 price objective on the stock. Guggenheim reaffirmed a "neutral" rating on shares of Commvault Systems in a research note on Wednesday, January 29th. KeyCorp increased their price objective on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. StockNews.com upgraded Commvault Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. Finally, Cantor Fitzgerald boosted 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 equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $156.44.

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.