Renaissance Technologies LLC Purchases 24,900 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Renaissance Technologies LLC lifted its position in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,909,185 shares of the software maker's stock after purchasing an additional 24,900 shares during the quarter. Renaissance Technologies LLC owned 4.34% of Commvault Systems worth $288,115,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC increased its holdings in Commvault Systems by 3.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker's stock valued at $296,000 after purchasing an additional 66 shares during the period. CIBC Asset Management Inc increased its stake in shares of Commvault Systems by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker's stock valued at $213,000 after buying an additional 75 shares during the period. PNC Financial Services Group Inc. lifted its stake in Commvault Systems by 4.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,439 shares of the software maker's stock worth $368,000 after acquiring an additional 93 shares during the period. GAMMA Investing LLC increased its position in Commvault Systems by 13.7% during the 4th quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker's stock valued at $152,000 after purchasing an additional 121 shares during the period. Finally, New York State Common Retirement Fund lifted its position in shares of Commvault Systems by 1.0% in the 4th quarter. New York State Common Retirement Fund now owns 13,713 shares of the software maker's stock worth $2,069,000 after purchasing an additional 141 shares during the period. 93.50% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

CVLT has been the subject of several research analyst reports. Guggenheim restated a "neutral" rating on shares of Commvault Systems in a report on Wednesday, January 29th. StockNews.com raised Commvault Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. Cantor Fitzgerald raised their price objective on Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Piper Sandler reduced their target price on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, KeyCorp increased their price target on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Five equities research 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, Commvault Systems presently has an average rating of "Moderate Buy" and an average target price of $159.11.

Insiders Place Their Bets

In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value of $614,471.78. Following the transaction, the insider now owns 87,316 shares of the company's stock, valued at approximately $16,322,853.04. This represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total value of $2,290,655.28. Following the sale, the chief executive officer now owns 427,231 shares of the company's stock, valued at approximately $79,447,876.76. This 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 Stock Up 0.7 %

Shares of Commvault Systems stock traded up $1.10 on Friday, reaching $152.49. The company's stock had a trading volume of 287,098 shares, compared to its average volume of 403,896. Commvault Systems, Inc. has a 52 week low of $93.48 and a 52 week high of $190.11. The firm's fifty day simple moving average is $164.54 and its two-hundred day simple moving average is $161.71. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 40.02 and a beta of 0.68.

Commvault Systems Company 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.