Canada Pension Plan Investment Board Cuts Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Canada Pension Plan Investment Board trimmed its stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 24.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,500 shares of the software maker's stock after selling 5,700 shares during the quarter. Canada Pension Plan Investment Board's holdings in Commvault Systems were worth $2,641,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nisa Investment Advisors LLC grew its stake in shares of Commvault Systems by 3.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker's stock valued at $296,000 after buying an additional 66 shares during the period. CIBC Asset Management Inc increased its stake in Commvault Systems by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker's stock worth $213,000 after acquiring an additional 75 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Commvault Systems by 4.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,439 shares of the software maker's stock worth $368,000 after acquiring an additional 93 shares during the last quarter. Mariner LLC raised its holdings in shares of Commvault Systems by 3.7% in the 4th quarter. Mariner LLC now owns 3,310 shares of the software maker's stock worth $500,000 after purchasing an additional 118 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Commvault Systems by 13.7% in the 4th quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker's stock valued at $152,000 after purchasing an additional 121 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Activity

In other Commvault Systems news, CEO Sanjay Mirchandani sold 12,318 shares of the stock in a transaction that occurred 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 transaction, 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 position. The transaction was disclosed in a filing 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 stock was sold at an average price of $186.94, for a total value of $614,471.78. Following the completion of the transaction, the insider now owns 87,316 shares of the company's stock, valued at approximately $16,322,853.04. The trade was 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.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Cantor Fitzgerald raised their price target on shares of Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Guggenheim restated a "neutral" rating on shares of Commvault Systems in a report on Wednesday, January 29th. StockNews.com raised shares of Commvault Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Piper Sandler cut their price objective on Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, William Blair raised Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Commvault Systems presently has a consensus rating of "Moderate Buy" and an average price target of $158.00.

Commvault Systems Stock Performance

Shares of CVLT opened at $149.60 on Wednesday. Commvault Systems, Inc. has a one year low of $95.14 and a one year high of $190.11. The stock has a 50-day moving average price of $160.78 and a 200 day moving average price of $161.57. The company has a market capitalization of $6.58 billion, a P/E ratio of 39.27 and a beta of 0.68.

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.

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