Allspring Global Investments Holdings LLC Grows Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Allspring Global Investments Holdings LLC increased its holdings in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 604.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 647,525 shares of the software maker's stock after buying an additional 555,656 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.48% of Commvault Systems worth $98,479,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wedge Capital Management L L P NC raised its stake in Commvault Systems by 5.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 18,811 shares of the software maker's stock worth $2,894,000 after acquiring an additional 989 shares during the period. Creative Planning raised its stake in Commvault Systems by 66.0% during the 3rd quarter. Creative Planning now owns 12,150 shares of the software maker's stock worth $1,869,000 after acquiring an additional 4,829 shares during the period. Kapitalo Investimentos Ltda raised its position in shares of Commvault Systems by 20.8% during the third quarter. Kapitalo Investimentos Ltda now owns 2,758 shares of the software maker's stock valued at $424,000 after buying an additional 474 shares during the last quarter. Vontobel Holding Ltd. bought a new stake in shares of Commvault Systems during the third quarter valued at approximately $1,126,000. Finally, Ellsworth Advisors LLC raised its position in shares of Commvault Systems by 4.4% during the third quarter. Ellsworth Advisors LLC now owns 4,252 shares of the software maker's stock valued at $654,000 after buying an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CVLT shares. Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Oppenheimer started coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They set an "outperform" rating and a $200.00 price objective on the stock. William Blair upgraded shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. StockNews.com cut shares of Commvault Systems from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 16th. Finally, Cantor Fitzgerald boosted their price target 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. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $156.44.

Insiders Place Their Bets

In other Commvault Systems news, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction on Monday, November 18th. The shares were sold at an average price of $164.89, for a total transaction of $251,127.47. Following the completion of the transaction, the insider now directly owns 93,007 shares of the company's stock, valued at $15,335,924.23. The trade was a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanjay Mirchandani sold 10,775 shares of Commvault Systems stock in a transaction on Monday, November 18th. The stock was sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the transaction, the chief executive officer now directly owns 459,969 shares of the company's stock, valued at $76,032,875.70. The trade was a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,530 shares of company stock valued at $2,244,755 over the last three months. 1.00% of the stock is owned by company insiders.

Commvault Systems Stock Performance

NASDAQ CVLT traded up $1.36 on Friday, hitting $184.91. 431,739 shares of the stock were exchanged, compared to its average volume of 518,239. The stock has a fifty day moving average price of $162.92 and a two-hundred day moving average price of $157.89. The firm has a market capitalization of $8.14 billion, a P/E ratio of 48.53 and a beta of 0.65. Commvault Systems, Inc. has a 52-week low of $90.32 and a 52-week high of $186.52.

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.