Thrivent Financial for Lutherans Sells 9,957 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Thrivent Financial for Lutherans reduced its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 12.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 69,449 shares of the software maker's stock after selling 9,957 shares during the period. Thrivent Financial for Lutherans owned about 0.16% of Commvault Systems worth $10,481,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of 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 buying an additional 25,082 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Commvault Systems by 604.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker's stock worth $98,479,000 after acquiring an additional 555,656 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of 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 purchasing an additional 120,779 shares in the last quarter. Congress Asset Management Co. lifted its position in shares of Commvault Systems by 5.7% during the fourth quarter. Congress Asset Management Co. now owns 520,378 shares of the software maker's stock worth $78,530,000 after purchasing an additional 28,216 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Commvault Systems by 26.1% during the third quarter. FMR LLC now owns 466,315 shares of the software maker's stock valued at $71,743,000 after purchasing an additional 96,525 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several research analysts have issued reports on CVLT shares. KeyCorp upped their price objective on Commvault Systems from $192.00 to $195.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. William Blair upgraded Commvault Systems from a "market perform" rating to an "outperform" rating in a report on Thursday, January 30th. Guggenheim reissued a "neutral" rating on shares of Commvault Systems in a report on Wednesday, January 29th. StockNews.com raised shares of Commvault Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. Finally, Cantor Fitzgerald boosted their price target on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Commvault Systems currently has an average rating of "Moderate Buy" and an average price target of $156.44.

Commvault Systems Trading Up 1.5 %

Shares of CVLT stock traded up $2.55 on Tuesday, hitting $171.72. The stock had a trading volume of 55,254 shares, compared to its average volume of 373,094. Commvault Systems, Inc. has a twelve month low of $93.48 and a twelve month high of $190.11. The company has a fifty day moving average price of $166.03 and a two-hundred day moving average price of $161.04. The firm has a market cap of $7.56 billion, a P/E ratio of 45.07 and a beta of 0.62.

Insiders Place Their Bets

In other Commvault Systems news, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems stock in a transaction that occurred on 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 transaction, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gary Merrill sold 3,287 shares of the stock in a transaction on Wednesday, February 19th. The stock was 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 of the company's stock, valued at $16,322,853.04. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

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.