Lord Abbett & CO. LLC decreased its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 37.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 280,252 shares of the software maker's stock after selling 165,336 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.64% of Commvault Systems worth $42,293,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Commvault Systems by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 5,636,559 shares of the software maker's stock worth $850,613,000 after purchasing an additional 54,562 shares during the period. Renaissance Technologies LLC boosted its holdings in Commvault Systems by 1.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,909,185 shares of the software maker's stock worth $288,115,000 after buying an additional 24,900 shares during the period. Invesco Ltd. boosted its holdings in Commvault Systems by 57.7% in the 4th quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker's stock worth $250,527,000 after buying an additional 607,643 shares during the period. Geode Capital Management LLC grew its stake in Commvault Systems by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 1,288,068 shares of the software maker's stock valued at $194,681,000 after buying an additional 43,088 shares in the last quarter. Finally, 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 valued at $98,479,000 after acquiring an additional 555,656 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.
Commvault Systems Price Performance
CVLT stock traded up $2.77 during midday trading on Tuesday, reaching $168.73. The company had a trading volume of 873,086 shares, compared to its average volume of 414,241. The firm has a 50-day moving average price of $158.88 and a 200-day moving average price of $161.67. The company has a market capitalization of $7.42 billion, a P/E ratio of 44.29 and a beta of 0.68. Commvault Systems, Inc. has a 1 year low of $100.40 and a 1 year high of $190.11.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. William Blair upgraded Commvault Systems from a "market perform" rating to an "outperform" rating in a research note on Thursday, January 30th. StockNews.com raised shares of Commvault Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. Cantor Fitzgerald raised their price objective on shares of Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. KeyCorp decreased their target price on shares of Commvault Systems from $195.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, DA Davidson raised their price target on shares of Commvault Systems from $185.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Commvault Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $160.78.
Check Out Our Latest Research Report on Commvault Systems
Insider Buying and Selling
In other news, insider Gary Merrill sold 3,287 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 in the company, valued at approximately $16,322,853.04. The trade was a 3.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Mirchandani sold 12,318 shares of the company's stock in a transaction 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 directly 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. 1.00% of the stock is owned by company insiders.
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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