Wells Fargo & Company MN Buys 11,914 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Wells Fargo & Company MN increased its stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 56.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 32,998 shares of the software maker's stock after buying an additional 11,914 shares during the quarter. Wells Fargo & Company MN owned 0.07% of Commvault Systems worth $4,980,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. TFC Financial Management Inc. increased its position in Commvault Systems by 294.1% in the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker's stock worth $61,000 after buying an additional 300 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Commvault Systems by 37,400.0% during the 4th quarter. Blue Trust Inc. now owns 750 shares of the software maker's stock worth $113,000 after acquiring an additional 748 shares during the period. Meeder Asset Management Inc. purchased a new stake in Commvault Systems in the 4th quarter worth about $127,000. GAMMA Investing LLC raised its stake in 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 acquiring an additional 121 shares during the period. Finally, AlphaQuest LLC lifted its holdings in Commvault Systems by 69.1% during the fourth quarter. AlphaQuest LLC now owns 1,023 shares of the software maker's stock valued at $154,000 after purchasing an additional 418 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Insider Activity

In other news, CEO Sanjay Mirchandani sold 12,318 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the sale, the chief executive officer now owns 427,231 shares in the company, valued at approximately $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 can be accessed through this link. Also, insider Gary Merrill sold 3,287 shares of the company's 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 completion of the transaction, the insider now owns 87,316 shares of the company's stock, valued at $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. Corporate insiders own 1.00% of the company's stock.

Commvault Systems Stock Performance

Commvault Systems stock traded up $8.12 during midday trading on Thursday, hitting $161.86. 160,181 shares of the company's stock were exchanged, compared to its average volume of 408,569. The company has a market cap of $7.12 billion, a P/E ratio of 42.52 and a beta of 0.68. The stock has a 50-day moving average price of $160.16 and a two-hundred day moving average price of $161.52. Commvault Systems, Inc. has a 52-week low of $95.57 and a 52-week high of $190.11.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CVLT shares. Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a research note on Wednesday. KeyCorp lowered their target price on shares of Commvault Systems from $195.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Cantor Fitzgerald raised their price target on Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. StockNews.com upgraded Commvault Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. Finally, Piper Sandler dropped their price objective on Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $158.00.

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.