Charles Schwab Investment Management Inc. lessened its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 576,466 shares of the software maker's stock after selling 10,329 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.31% of Commvault Systems worth $86,994,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in CVLT. Summit Partners Public Asset Management LLC purchased a new stake in Commvault Systems in the 3rd quarter worth approximately $67,722,000. Point72 Hong Kong Ltd lifted its stake in Commvault Systems by 37.9% in the third quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker's stock worth $3,603,000 after acquiring an additional 6,433 shares during the period. Intech Investment Management LLC boosted its holdings in Commvault Systems by 31.8% in the third quarter. Intech Investment Management LLC now owns 24,074 shares of the software maker's stock valued at $3,704,000 after acquiring an additional 5,805 shares in the last quarter. Centiva Capital LP increased its position in Commvault Systems by 193.2% during the 3rd quarter. Centiva Capital LP now owns 8,567 shares of the software maker's stock valued at $1,318,000 after purchasing an additional 5,645 shares during the period. Finally, Citigroup Inc. increased its position in Commvault Systems by 146.0% during the 3rd quarter. Citigroup Inc. now owns 47,867 shares of the software maker's stock valued at $7,364,000 after purchasing an additional 28,408 shares during the period. Institutional investors own 93.50% of the company's stock.
Wall Street Analysts Forecast Growth
CVLT has been the topic of a number of research reports. StockNews.com raised shares of Commvault Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. KeyCorp upped their target price on Commvault Systems from $192.00 to $195.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. William Blair upgraded Commvault Systems from a "market perform" rating to an "outperform" rating in a research note on Thursday, January 30th. Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a report on Wednesday, January 29th. Finally, Cantor Fitzgerald boosted their target price 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. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Commvault Systems has a consensus rating of "Moderate Buy" and a consensus price target of $156.44.
Read Our Latest Report on CVLT
Insider Transactions at Commvault Systems
In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value of $614,471.78. Following the transaction, the insider now directly owns 87,316 shares of the company's stock, valued at approximately $16,322,853.04. This trade represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mirchandani sold 12,318 shares of the company's stock in a transaction dated 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 directly owns 427,231 shares of the company's stock, valued at $79,447,876.76. The trade was a 2.80 % 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 Stock Up 7.3 %
Shares of Commvault Systems stock traded up $10.86 on Friday, reaching $159.17. The company's stock had a trading volume of 645,975 shares, compared to its average volume of 372,729. Commvault Systems, Inc. has a 52 week low of $93.48 and a 52 week high of $190.11. The firm's fifty day simple moving average is $165.21 and its two-hundred day simple moving average is $160.36. The company has a market capitalization of $7.00 billion, a price-to-earnings ratio of 41.78 and a beta of 0.62.
About Commvault Systems
(
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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