Prudential PLC Purchases New Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Prudential PLC purchased a new stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,893 shares of the software maker's stock, valued at approximately $286,000.

Other hedge funds have also recently bought and sold shares of the company. Benjamin Edwards Inc. purchased a new stake in shares of Commvault Systems in the 3rd quarter worth about $268,000. HighTower Advisors LLC grew its position in shares of Commvault Systems by 478.1% in the third quarter. HighTower Advisors LLC now owns 13,238 shares of the software maker's stock valued at $2,032,000 after purchasing an additional 10,948 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Commvault Systems during the 3rd quarter worth approximately $354,000. Point72 DIFC Ltd acquired a new position in shares of Commvault Systems during the 3rd quarter worth approximately $71,000. Finally, Stifel Financial Corp raised its position in shares of Commvault Systems by 27.2% during the 3rd quarter. Stifel Financial Corp now owns 6,753 shares of the software maker's stock worth $1,039,000 after purchasing an additional 1,445 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Commvault Systems Trading Up 1.2 %

Commvault Systems stock traded up $1.88 during midday trading on Monday, reaching $154.37. 39,656 shares of the stock traded hands, compared to its average volume of 402,537. The firm has a fifty day moving average price of $164.54 and a two-hundred day moving average price of $161.71. The firm has a market cap of $6.79 billion, a price-to-earnings ratio of 40.52 and a beta of 0.68. Commvault Systems, Inc. has a fifty-two week low of $93.48 and a fifty-two week high of $190.11.

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Analysts Set New Price Targets

Several research firms have weighed in on CVLT. William Blair raised Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. Cantor Fitzgerald upped their price objective on Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. KeyCorp raised their target price on shares of Commvault Systems from $192.00 to $195.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Piper Sandler decreased their price target on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Finally, Guggenheim reissued a "neutral" rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $159.11.

Insider Activity at Commvault Systems

In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $614,471.78. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 427,231 shares of the company's stock, valued at $79,447,876.76. This trade represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

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.