Norges Bank bought a new position in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 527,594 shares of the software maker's stock, valued at approximately $79,619,000. Norges Bank owned approximately 1.20% of Commvault Systems as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Parametrica Management Ltd purchased a new position in Commvault Systems in the 4th quarter valued at approximately $210,000. EFG Asset Management North America Corp. grew its position in shares of Commvault Systems by 58.6% in the fourth quarter. EFG Asset Management North America Corp. now owns 33,422 shares of the software maker's stock valued at $5,040,000 after purchasing an additional 12,345 shares in the last quarter. Prudential Financial Inc. grew its position in shares of Commvault Systems by 64.8% in the fourth quarter. Prudential Financial Inc. now owns 126,870 shares of the software maker's stock valued at $19,146,000 after purchasing an additional 49,889 shares in the last quarter. Congress Wealth Management LLC DE raised its stake in shares of Commvault Systems by 12.2% during the 4th quarter. Congress Wealth Management LLC DE now owns 88,903 shares of the software maker's stock valued at $13,416,000 after purchasing an additional 9,634 shares during the period. Finally, Emerald Advisers LLC lifted its holdings in Commvault Systems by 1.3% during the 4th quarter. Emerald Advisers LLC now owns 70,450 shares of the software maker's stock worth $10,632,000 after purchasing an additional 925 shares in the last quarter. Institutional investors own 93.50% of the company's stock.
Insider Transactions at Commvault Systems
In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $614,471.78. Following the transaction, the insider now directly owns 87,316 shares in the company, valued at $16,322,853.04. This trade represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the sale, the chief executive officer now 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a research report on Wednesday, January 29th. KeyCorp upped their target price on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Cantor Fitzgerald raised their price target on shares of Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. StockNews.com upgraded shares of Commvault Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Finally, William Blair upgraded Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $156.44.
Get Our Latest Stock Report on Commvault Systems
Commvault Systems Stock Performance
CVLT traded up $2.73 during trading on Monday, reaching $142.08. The stock had a trading volume of 618,567 shares, compared to its average volume of 400,435. The business has a 50-day moving average of $165.55 and a 200-day moving average of $161.89. Commvault Systems, Inc. has a one year low of $93.48 and a one year high of $190.11. The stock has a market cap of $6.25 billion, a PE ratio of 37.29 and a beta of 0.68.
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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