Commvault Systems, Inc. (NASDAQ:CVLT) Stake Increased by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 42.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,315 shares of the software maker's stock after purchasing an additional 3,054 shares during the period. Pacer Advisors Inc.'s holdings in Commvault Systems were worth $1,557,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. State Street Corp grew its stake in Commvault Systems by 1.6% in the third quarter. State Street Corp now owns 1,594,045 shares of the software maker's stock valued at $245,244,000 after acquiring an additional 25,082 shares during the period. Charles Schwab Investment Management Inc. increased its position 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 acquiring an additional 120,779 shares during the period. Congress Asset Management Co. raised its holdings in Commvault Systems by 29.4% in the 3rd quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker's stock valued at $75,719,000 after acquiring an additional 111,715 shares in the last quarter. FMR LLC increased its stake in Commvault Systems by 26.1% in the third quarter. FMR LLC now owns 466,315 shares of the software maker's stock valued at $71,743,000 after acquiring an additional 96,525 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC bought a new position in shares of Commvault Systems in the third quarter worth about $67,722,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Insiders Place Their Bets

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the business's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $172.50, for a total value of $212,520.00. Following the transaction, the director now directly owns 5,899 shares of the company's stock, valued at approximately $1,017,577.50. The trade was a 17.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gary Merrill sold 1,523 shares of the company's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $164.89, for a total value of $251,127.47. Following the transaction, the insider now directly owns 93,007 shares in the company, valued at $15,335,924.23. This represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,530 shares of company stock worth $2,244,755 over the last three months. Company insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

CVLT has been the subject of several research analyst reports. KeyCorp lifted 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. Cantor Fitzgerald lifted their price target on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a research note on Wednesday, January 29th. William Blair raised shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a research note on Thursday, January 30th. Finally, StockNews.com downgraded shares of Commvault Systems from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 16th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $156.44.

Commvault Systems Stock Performance

Shares of NASDAQ CVLT traded up $3.73 during mid-day trading on Wednesday, reaching $171.01. The company's stock had a trading volume of 451,306 shares, compared to its average volume of 506,857. Commvault Systems, Inc. has a 1-year low of $90.32 and a 1-year high of $178.72. The stock has a 50-day moving average of $162.00 and a two-hundred day moving average of $155.34. The stock has a market capitalization of $7.52 billion, a P/E ratio of 44.88 and a beta of 0.65.

About Commvault Systems

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.