Edgestream Partners L.P. Invests $5.02 Million in Commvault Systems, Inc. (NASDAQ:CVLT)

Edgestream Partners L.P. bought a new stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 33,271 shares of the software maker's stock, valued at approximately $5,021,000. Edgestream Partners L.P. owned approximately 0.08% of Commvault Systems at the end of the most recent reporting period.

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

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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 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 directly owns 427,231 shares of the company's stock, valued at approximately $79,447,876.76. This trade 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 the company's stock in a transaction dated 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 sale, the insider now directly owns 87,316 shares of the company's stock, valued at $16,322,853.04. The trade was a 3.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

Commvault Systems Trading Up 1.0 %

NASDAQ:CVLT traded up $1.58 during mid-day trading on Wednesday, hitting $153.53. The stock had a trading volume of 415,794 shares, compared to its average volume of 371,707. Commvault Systems, Inc. has a 52 week low of $93.48 and a 52 week high of $190.11. The stock has a market capitalization of $6.76 billion, a price-to-earnings ratio of 40.30 and a beta of 0.62. The company has a 50 day simple moving average of $165.24 and a 200-day simple moving average of $160.50.

Analyst Ratings Changes

Several research analysts have recently commented on CVLT shares. William Blair upgraded Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. Cantor Fitzgerald lifted their price objective on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a research note on Wednesday, January 29th. KeyCorp raised their price target on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Finally, 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 for the company. 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 presently has a consensus rating of "Moderate Buy" and an average price target of $156.44.

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.