Madison Investment Advisors LLC purchased a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 23,933 shares of the software maker's stock, valued at approximately $3,612,000. Madison Investment Advisors LLC owned about 0.05% of Commvault Systems at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. State Street Corp raised its position in shares of Commvault Systems by 1.6% during the 3rd quarter. State Street Corp now owns 1,594,045 shares of the software maker's stock worth $245,244,000 after acquiring an additional 25,082 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Commvault Systems by 604.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker's stock valued at $98,479,000 after purchasing an additional 555,656 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 purchasing an additional 120,779 shares in the last quarter. Congress Asset Management Co. boosted its holdings in shares of Commvault Systems by 5.7% in the 4th quarter. Congress Asset Management Co. now owns 520,378 shares of the software maker's stock valued at $78,530,000 after buying an additional 28,216 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Commvault Systems by 26.1% in the 3rd quarter. FMR LLC now owns 466,315 shares of the software maker's stock valued at $71,743,000 after buying an additional 96,525 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.
Commvault Systems Stock Performance
CVLT traded down $8.75 during trading on Wednesday, reaching $165.24. The company's stock had a trading volume of 356,834 shares, compared to its average volume of 373,725. The company's fifty day moving average price is $166.30 and its 200-day moving average price is $161.28. The company has a market capitalization of $7.27 billion, a price-to-earnings ratio of 43.37 and a beta of 0.62. Commvault Systems, Inc. has a 52-week low of $93.48 and a 52-week high of $190.11.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on CVLT shares. StockNews.com raised shares of Commvault Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. William Blair raised Commvault Systems from a "market perform" rating to an "outperform" rating in a report on Thursday, January 30th. Guggenheim restated a "neutral" rating on shares of Commvault Systems in a research note on Wednesday, January 29th. 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. Finally, 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 report on Wednesday, January 29th. Five 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 an average price target of $156.44.
View Our Latest Stock Report on Commvault Systems
Insiders Place Their Bets
In other news, CEO Sanjay Mirchandani sold 12,318 shares of the firm'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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gary Merrill sold 3,287 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total transaction 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 disclosure for this sale can be found here. 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.
Further Reading
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