Intech Investment Management LLC Increases Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Intech Investment Management LLC raised its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 105.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,411 shares of the software maker's stock after purchasing an additional 25,337 shares during the period. Intech Investment Management LLC owned 0.11% of Commvault Systems worth $7,457,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVLT. State Street Corp raised its stake in Commvault Systems by 1.6% during the third quarter. State Street Corp now owns 1,594,045 shares of the software maker's stock worth $245,244,000 after buying an additional 25,082 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Commvault Systems by 604.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker's stock worth $98,479,000 after acquiring an additional 555,656 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Commvault Systems by 25.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker's stock valued at $90,278,000 after purchasing an additional 120,779 shares during the period. Congress Asset Management Co. boosted its position in shares of Commvault Systems by 5.7% during the 4th quarter. Congress Asset Management Co. now owns 520,378 shares of the software maker's stock valued at $78,530,000 after purchasing an additional 28,216 shares in the last quarter. Finally, FMR LLC grew its stake in Commvault Systems by 26.1% during the third quarter. FMR LLC now owns 466,315 shares of the software maker's stock worth $71,743,000 after purchasing an additional 96,525 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other news, CEO Sanjay Mirchandani sold 12,318 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the completion of the sale, the chief executive officer now owns 427,231 shares in the company, valued at $79,447,876.76. This trade represents a 2.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gary Merrill sold 3,287 shares of the firm'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 directly owns 87,316 shares of the company's stock, valued at $16,322,853.04. This represents 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 currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Commvault Systems Stock Down 0.4 %

CVLT stock traded down $0.69 during trading on Friday, reaching $161.52. The stock had a trading volume of 685,388 shares, compared to its average volume of 373,293. Commvault Systems, Inc. has a one year low of $93.48 and a one year high of $190.11. The company's 50 day moving average is $165.77 and its two-hundred day moving average is $160.81. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of 42.39 and a beta of 0.62.

Commvault Systems Company 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.