Fox Run Management L.L.C. Invests $546,000 in Commvault Systems, Inc. (NASDAQ:CVLT)

Fox Run Management L.L.C. acquired a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,618 shares of the software maker's stock, valued at approximately $546,000.

A number of other hedge funds also recently made changes to their positions in CVLT. Allspring Global Investments Holdings LLC raised its holdings in Commvault Systems by 604.8% during the 4th 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. Summit Partners Public Asset Management LLC acquired a new stake in shares of Commvault Systems during the third quarter worth $67,722,000. Charles Schwab Investment Management Inc. raised its stake in Commvault Systems by 25.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker's stock worth $90,278,000 after buying an additional 120,779 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in Commvault Systems in the third quarter valued at $15,264,000. Finally, FMR LLC boosted its position in Commvault Systems by 26.1% during the third quarter. FMR LLC now owns 466,315 shares of the software maker's stock valued at $71,743,000 after acquiring an additional 96,525 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction that occurred 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 transaction, the insider now owns 87,316 shares of the company's stock, valued at $16,322,853.04. The trade was a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the company'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 sale, the chief executive officer now owns 427,231 shares of the company's stock, valued at $79,447,876.76. This trade represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CVLT. Cantor Fitzgerald boosted their price objective on Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. StockNews.com upgraded Commvault Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a research note on Wednesday, January 29th. KeyCorp increased their target price on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Finally, William Blair raised shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a research note on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Commvault Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $156.44.

Commvault Systems Price Performance

Shares of NASDAQ:CVLT traded down $3.30 during midday trading on Friday, hitting $161.98. 298,402 shares of the company's stock were exchanged, compared to its average volume of 393,217. Commvault Systems, Inc. has a 12 month low of $93.48 and a 12 month high of $190.11. The company has a market cap of $7.13 billion, a PE ratio of 42.51 and a beta of 0.62. The stock has a 50 day moving average price of $166.47 and a 200-day moving average price of $161.47.

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.