Raymond James Financial Inc. acquired a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 18,651 shares of the software maker's stock, valued at approximately $2,815,000.
A number of other institutional investors have also recently added to or reduced their stakes in CVLT. Citigroup Inc. raised its holdings in shares of Commvault Systems by 146.0% during the 3rd quarter. Citigroup Inc. now owns 47,867 shares of the software maker's stock worth $7,364,000 after acquiring an additional 28,408 shares during the period. Cerity Partners LLC purchased a new position in Commvault Systems during the third quarter worth about $506,000. Centaurus Financial Inc. purchased a new position in Commvault Systems during the third quarter worth about $126,000. FMR LLC grew its stake 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 during the period. Finally, Townsquare Capital LLC grew its stake in shares of Commvault Systems by 95.0% in the 3rd quarter. Townsquare Capital LLC now owns 37,765 shares of the software maker's stock valued at $5,810,000 after buying an additional 18,402 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.
Insider Buying and Selling at Commvault Systems
In related news, insider Gary Merrill sold 3,287 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 87,316 shares of the company's stock, 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 through this hyperlink. Also, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems 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 transaction, the chief executive officer now owns 427,231 shares of the company's stock, valued at $79,447,876.76. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on CVLT shares. Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a report on Wednesday, January 29th. William Blair raised Commvault Systems from a "market perform" rating to an "outperform" rating in a research note on Thursday, January 30th. Cantor Fitzgerald raised their price objective on Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. KeyCorp boosted their price objective 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. Finally, StockNews.com raised shares of Commvault Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Commvault Systems presently has an average rating of "Moderate Buy" and an average price target of $156.44.
Get Our Latest Stock Report on CVLT
Commvault Systems Price Performance
Shares of CVLT stock traded up $3.45 during trading on Wednesday, reaching $166.39. The company's stock had a trading volume of 363,264 shares, compared to its average volume of 396,204. Commvault Systems, Inc. has a 1-year low of $93.48 and a 1-year high of $190.11. The stock's 50-day moving average price is $166.45 and its 200 day moving average price is $161.93. The company has a market capitalization of $7.32 billion, a price-to-earnings ratio of 43.67 and a beta of 0.62.
Commvault Systems Profile
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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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