Commvault Systems, Inc. (NASDAQ:CVLT) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. grew its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 19.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,735 shares of the software maker's stock after acquiring an additional 8,108 shares during the quarter. Franklin Resources Inc. owned about 0.12% of Commvault Systems worth $7,656,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Virtu Financial LLC lifted its position in Commvault Systems by 63.9% during the 4th quarter. Virtu Financial LLC now owns 8,243 shares of the software maker's stock worth $1,244,000 after acquiring an additional 3,214 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Commvault Systems by 0.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 632,870 shares of the software maker's stock valued at $95,506,000 after purchasing an additional 4,957 shares in the last quarter. Banco Santander S.A. purchased a new stake in Commvault Systems during the 4th quarter worth $833,000. New Age Alpha Advisors LLC acquired a new position in Commvault Systems in the 4th quarter worth $1,387,000. Finally, Oppenheimer & Co. Inc. purchased a new position in Commvault Systems in the 4th quarter valued at about $367,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Commvault Systems Stock Performance

Shares of CVLT traded up $1.98 during mid-day trading on Tuesday, reaching $155.51. 82,054 shares of the company's stock traded hands, compared to its average volume of 402,638. Commvault Systems, Inc. has a 12 month low of $93.48 and a 12 month high of $190.11. The stock has a market capitalization of $6.84 billion, a P/E ratio of 40.86 and a beta of 0.68. The business's 50-day moving average price is $164.19 and its 200-day moving average price is $161.73.

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Insider Transactions at Commvault Systems

In other news, insider Gary Merrill sold 3,287 shares of the company's stock in a transaction on 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 sale, the insider now owns 87,316 shares in the company, valued at $16,322,853.04. This represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems stock in a transaction dated 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 approximately $79,447,876.76. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CVLT. KeyCorp upped their target price on shares of Commvault Systems from $192.00 to $195.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Piper Sandler reduced their target price on Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Guggenheim reiterated a "neutral" rating on shares of Commvault Systems 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. Finally, StockNews.com upgraded shares of Commvault Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. 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, Commvault Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $159.11.

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.