JPMorgan Chase & Co. decreased its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 254,675 shares of the software maker's stock after selling 12,156 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.58% of Commvault Systems worth $38,433,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. TFC Financial Management Inc. lifted its holdings in Commvault Systems by 294.1% in the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker's stock worth $61,000 after purchasing an additional 300 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of Commvault Systems in the third quarter valued at approximately $71,000. TD Private Client Wealth LLC acquired a new stake in shares of Commvault Systems in the third quarter worth $105,000. Blue Trust Inc. lifted its stake in shares of Commvault Systems by 37,400.0% in the fourth quarter. Blue Trust Inc. now owns 750 shares of the software maker's stock worth $113,000 after buying an additional 748 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Commvault Systems by 13.7% during 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 period. Institutional investors own 93.50% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. Cantor Fitzgerald boosted their target price on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. KeyCorp boosted their price objective on Commvault Systems from $192.00 to $195.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. William Blair raised Commvault Systems from a "market perform" rating to an "outperform" rating in a report on Thursday, January 30th. Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a report on Wednesday, January 29th. Finally, Piper Sandler reduced their price objective on Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $159.11.
Get Our Latest Analysis on CVLT
Commvault Systems Price Performance
Shares of NASDAQ CVLT traded up $1.10 during trading hours on Friday, reaching $152.49. The stock had a trading volume of 287,098 shares, compared to its average volume of 403,429. The company has a market cap of $6.71 billion, a price-to-earnings ratio of 40.02 and a beta of 0.68. Commvault Systems, Inc. has a twelve month low of $93.48 and a twelve month high of $190.11. The business's fifty day moving average is $164.54 and its two-hundred day moving average is $161.65.
Insider Activity
In other news, CEO Sanjay Mirchandani sold 12,318 shares of the stock in a transaction that occurred 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 completion of 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 represents a 2.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gary Merrill sold 3,287 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now owns 87,316 shares of the company's stock, valued at $16,322,853.04. This trade represents 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.
About Commvault Systems
(
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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