WCM Investment Management LLC acquired a new stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 68,144 shares of the software maker's stock, valued at approximately $10,303,000. WCM Investment Management LLC owned 0.16% of Commvault Systems at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Summit Partners Public Asset Management LLC bought a new stake in Commvault Systems during the 3rd quarter worth approximately $67,722,000. Charles Schwab Investment Management Inc. grew its position in Commvault Systems by 25.9% during the 3rd 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 last quarter. Congress Asset Management Co. grew its position in Commvault Systems by 29.4% during the 3rd quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker's stock worth $75,719,000 after acquiring an additional 111,715 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new stake in Commvault Systems during the 3rd quarter worth approximately $15,264,000. Finally, FMR LLC grew its position in Commvault Systems by 26.1% during the 3rd quarter. FMR LLC now owns 466,315 shares of the software maker's stock worth $71,743,000 after acquiring an additional 96,525 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on CVLT. William Blair upgraded Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. Oppenheimer initiated coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an "outperform" rating and a $200.00 price target on the stock. Cantor Fitzgerald increased 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. StockNews.com lowered Commvault Systems from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 16th. Finally, Royal Bank of Canada increased their price objective on Commvault Systems from $164.00 to $182.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $156.44.
Get Our Latest Analysis on CVLT
Insider Activity
In related news, CEO Sanjay Mirchandani sold 10,775 shares of the firm's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the sale, the chief executive officer now owns 459,969 shares of the company's stock, valued at approximately $76,032,875.70. This trade represents a 2.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Allison Pickens sold 1,232 shares of the firm's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $172.50, for a total value of $212,520.00. Following the sale, the director now directly owns 5,899 shares in the company, valued at $1,017,577.50. The trade was a 17.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,530 shares of company stock valued at $2,244,755 in the last 90 days. 1.00% of the stock is owned by company insiders.
Commvault Systems Price Performance
Shares of CVLT stock traded up $5.00 during trading hours on Thursday, reaching $183.55. The company had a trading volume of 490,872 shares, compared to its average volume of 520,630. The company has a 50 day moving average of $162.52 and a 200 day moving average of $157.20. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 48.18 and a beta of 0.65. Commvault Systems, Inc. has a 1-year low of $90.32 and a 1-year high of $185.02.
About Commvault Systems
(
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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