NewEdge Advisors LLC Has $681,000 Position in Commvault Systems, Inc. (NASDAQ:CVLT)

NewEdge Advisors LLC lifted its holdings in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 175.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,512 shares of the software maker's stock after purchasing an additional 2,872 shares during the quarter. NewEdge Advisors LLC's holdings in Commvault Systems were worth $681,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Invesco Ltd. lifted its stake in Commvault Systems by 57.7% in the fourth quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker's stock valued at $250,527,000 after buying an additional 607,643 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in 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 valued at $98,479,000 after acquiring an additional 555,656 shares in the last quarter. Norges Bank acquired a new position in Commvault Systems in the 4th quarter worth $79,619,000. WCM Investment Management LLC acquired a new position in Commvault Systems in the 4th quarter worth $10,303,000. Finally, Sei Investments Co. increased its holdings in Commvault Systems by 63.9% during the 4th quarter. Sei Investments Co. now owns 157,111 shares of the software maker's stock worth $23,708,000 after purchasing an additional 61,243 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Sanjay Mirchandani sold 12,318 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the transaction, the chief executive officer now directly owns 427,231 shares of the company's stock, valued at approximately $79,447,876.76. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary Merrill sold 3,287 shares of the stock in a transaction 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 owns 87,316 shares in the company, valued at approximately $16,322,853.04. This trade represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CVLT shares. StockNews.com raised Commvault Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Piper Sandler cut their target price on Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Cantor Fitzgerald raised their price target on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. Guggenheim reissued a "neutral" rating on shares of Commvault Systems in a research report on Wednesday. Finally, William Blair raised shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $158.00.

Commvault Systems Trading Up 1.3 %

NASDAQ CVLT opened at $165.51 on Friday. The firm's fifty day moving average price is $159.28 and its two-hundred day moving average price is $161.64. Commvault Systems, Inc. has a 1 year low of $97.63 and a 1 year high of $190.11. The firm has a market capitalization of $7.28 billion, a P/E ratio of 43.44 and a beta of 0.68.

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.

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