CANADA LIFE ASSURANCE Co increased its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 2.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 88,359 shares of the software maker's stock after acquiring an additional 2,140 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.20% of Commvault Systems worth $13,315,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of CVLT. Invesco Ltd. lifted its stake in shares of Commvault Systems by 57.7% in the fourth quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker's stock worth $250,527,000 after acquiring an additional 607,643 shares during the period. Allspring Global Investments Holdings LLC lifted 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 period. Norges Bank bought a new stake in shares of Commvault Systems in the 4th quarter valued at $79,619,000. WCM Investment Management LLC acquired a new stake in shares of Commvault Systems during the fourth quarter worth $10,303,000. Finally, Sei Investments Co. increased its position in shares of Commvault Systems by 63.9% during the fourth quarter. Sei Investments Co. now owns 157,111 shares of the software maker's stock worth $23,708,000 after buying an additional 61,243 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.
Insider Buying and Selling
In related 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 transaction of $2,290,655.28. Following the completion of the sale, the chief executive officer now owns 427,231 shares in the company, valued at approximately $79,447,876.76. This represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gary Merrill sold 3,287 shares of the firm's 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 transaction, the insider now owns 87,316 shares in the company, valued at approximately $16,322,853.04. This trade 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 currently owned by company insiders.
Analysts Set New Price Targets
Several research firms have recently weighed in on CVLT. Cantor Fitzgerald lifted their price objective on Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" 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. William Blair upgraded Commvault Systems from a "market perform" rating to an "outperform" rating in a report on Thursday, January 30th. Piper Sandler lowered their price objective on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Finally, Guggenheim reissued a "neutral" rating on shares of Commvault Systems in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Commvault Systems currently has a consensus rating of "Moderate Buy" and an average price target of $158.00.
Get Our Latest Stock Report on Commvault Systems
Commvault Systems Stock Up 6.2 %
CVLT traded up $9.58 during trading on Thursday, hitting $163.32. 457,862 shares of the company's stock were exchanged, compared to its average volume of 410,373. Commvault Systems, Inc. has a fifty-two week low of $95.57 and a fifty-two week high of $190.11. The stock has a market cap of $7.19 billion, a P/E ratio of 42.87 and a beta of 0.68. The business's 50 day moving average is $160.16 and its two-hundred day moving average is $161.52.
Commvault Systems Company Profile
(
Free Report)
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.
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