Cibc World Markets Corp Makes New $616,000 Investment in Commvault Systems, Inc. (NASDAQ:CVLT)

Cibc World Markets Corp purchased a new stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,084 shares of the software maker's stock, valued at approximately $616,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVLT. State Street Corp increased its holdings in shares of Commvault Systems by 1.6% during the third quarter. State Street Corp now owns 1,594,045 shares of the software maker's stock worth $245,244,000 after buying an additional 25,082 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Commvault Systems by 604.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker's stock valued at $98,479,000 after purchasing an additional 555,656 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Commvault Systems by 25.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker's stock valued at $90,278,000 after purchasing an additional 120,779 shares during the last quarter. Congress Asset Management Co. boosted its stake in Commvault Systems by 5.7% in the fourth quarter. Congress Asset Management Co. now owns 520,378 shares of the software maker's stock worth $78,530,000 after purchasing an additional 28,216 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Commvault Systems by 26.1% during the third quarter. FMR LLC now owns 466,315 shares of the software maker's stock worth $71,743,000 after purchasing an additional 96,525 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several brokerages recently issued reports on CVLT. William Blair upgraded shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. Cantor Fitzgerald upped their target price on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. KeyCorp raised their price target on shares of Commvault Systems from $192.00 to $195.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. StockNews.com upgraded shares of Commvault Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Finally, Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $156.44.

Commvault Systems Trading Up 1.5 %

Shares of NASDAQ:CVLT traded up $2.53 during midday trading on Tuesday, hitting $171.70. The company had a trading volume of 48,503 shares, compared to its average volume of 373,094. Commvault Systems, Inc. has a 12 month low of $93.48 and a 12 month high of $190.11. The firm has a fifty day simple moving average of $166.03 and a 200 day simple moving average of $161.04. The stock has a market cap of $7.55 billion, a price-to-earnings ratio of 45.00 and a beta of 0.62.

Insiders Place Their Bets

In other Commvault Systems news, CEO Sanjay Mirchandani sold 12,318 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now owns 427,231 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $614,471.78. Following the transaction, the insider now directly owns 87,316 shares in the company, valued at approximately $16,322,853.04. This represents 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.