Federated Hermes Inc. cut its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 46.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,945 shares of the software maker's stock after selling 38,562 shares during the quarter. Federated Hermes Inc. owned 0.10% of Commvault Systems worth $6,783,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in CVLT. TFC Financial Management Inc. boosted its stake in shares of Commvault Systems by 294.1% during the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker's stock valued at $61,000 after purchasing an additional 300 shares during the period. TD Private Client Wealth LLC purchased a new position in shares of Commvault Systems in the third quarter valued at about $105,000. Blue Trust Inc. boosted its holdings in shares of Commvault Systems by 37,400.0% during the fourth quarter. Blue Trust Inc. now owns 750 shares of the software maker's stock worth $113,000 after purchasing an additional 748 shares during the period. Meeder Asset Management Inc. purchased a new position in Commvault Systems during the 4th quarter valued at about $127,000. Finally, GAMMA Investing LLC grew its position in shares of Commvault Systems by 13.7% in the 4th quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker's stock worth $152,000 after buying an additional 121 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.
Insider Buying and Selling
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 value of $2,290,655.28. Following the transaction, the chief executive officer now directly owns 427,231 shares in the company, valued at $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 is available at this link. Also, 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 completion of the transaction, the insider now directly owns 87,316 shares in the company, valued at $16,322,853.04. The trade was a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.
Commvault Systems Stock Performance
Shares of CVLT traded down $3.08 on Wednesday, hitting $151.43. 297,953 shares of the stock traded hands, compared to its average volume of 403,647. The company has a market capitalization of $6.66 billion, a PE ratio of 39.75 and a beta of 0.68. Commvault Systems, Inc. has a one year low of $93.48 and a one year high of $190.11. The business has a 50 day simple moving average of $163.83 and a 200 day simple moving average of $161.68.
Analyst Ratings Changes
A number of brokerages recently commented on CVLT. StockNews.com raised Commvault Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. Guggenheim reissued a "neutral" rating on shares of Commvault Systems in a research note on Wednesday, January 29th. William Blair raised Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. KeyCorp increased their target price on Commvault Systems from $192.00 to $195.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Finally, Cantor Fitzgerald lifted their price target on Commvault Systems from $159.00 to $173.00 and gave the company 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $159.11.
View Our Latest Report on CVLT
Commvault Systems Company Profile
(
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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