16,600 Shares in Commvault Systems, Inc. (NASDAQ:CVLT) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in Commvault Systems, Inc. (NASDAQ:CVLT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 16,600 shares of the software maker’s stock, valued at approximately $2,505,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of Commvault Systems by 1.6% during the third quarter. State Street Corp now owns 1,594,045 shares of the software maker’s stock valued at $245,244,000 after purchasing an additional 25,082 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Commvault Systems by 604.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker’s stock valued at $98,479,000 after buying an additional 555,656 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of 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 buying an additional 120,779 shares in the last quarter. Congress Asset Management Co. lifted its stake in shares of Commvault Systems by 5.7% in the 4th quarter. Congress Asset Management Co. now owns 520,378 shares of the software maker’s stock worth $78,530,000 after acquiring an additional 28,216 shares during the period. Finally, FMR LLC boosted its holdings in shares of Commvault Systems by 26.1% in the third quarter. FMR LLC now owns 466,315 shares of the software maker’s stock valued at $71,743,000 after acquiring an additional 96,525 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Activity

In other news, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems stock in a transaction 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 transaction, the chief executive officer now owns 427,231 shares in the company, 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 can be accessed through the SEC website. Also, 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 completion of the sale, the insider now directly 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 disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CVLT shares. KeyCorp boosted their target price on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Cantor Fitzgerald upped their price objective on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. William Blair raised Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. StockNews.com upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Finally, Guggenheim restated 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $156.44.

Commvault Systems Trading Down 5.0 %

NASDAQ CVLT opened at $165.24 on Thursday. Commvault Systems, Inc. has a 1 year low of $93.48 and a 1 year high of $190.11. The company has a market cap of $7.27 billion, a PE ratio of 43.37 and a beta of 0.62. The stock’s 50-day moving average price is $166.38 and its two-hundred day moving average price is $161.31.

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.