Sei Investments Co. Boosts Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Sei Investments Co. boosted its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 63.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 157,111 shares of the software maker’s stock after acquiring an additional 61,243 shares during the quarter. Sei Investments Co. owned 0.36% of Commvault Systems worth $23,708,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its stake 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 worth $245,244,000 after purchasing an additional 25,082 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Commvault Systems by 604.8% in 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 purchasing an additional 555,656 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Commvault Systems by 25.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock valued at $90,278,000 after purchasing an additional 120,779 shares in the last quarter. Congress Asset Management Co. boosted its stake in Commvault Systems by 5.7% during the 4th 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 during the last quarter. Finally, FMR LLC grew its holdings 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 worth $71,743,000 after buying an additional 96,525 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling at Commvault Systems

In other news, insider Gary Merrill sold 3,287 shares of the business’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 directly owns 87,316 shares of the company’s stock, valued at approximately $16,322,853.04. The trade was a 3.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjay Mirchandani sold 12,318 shares of the 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 transaction, the chief executive officer now directly owns 427,231 shares of the company’s stock, valued at $79,447,876.76. The trade was 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.

Commvault Systems Stock Down 5.0 %

Shares of Commvault Systems stock opened at $165.24 on Thursday. The firm has a market cap of $7.27 billion, a PE ratio of 43.37 and a beta of 0.62. Commvault Systems, Inc. has a 52 week low of $93.48 and a 52 week high of $190.11. The business’s fifty day simple moving average is $166.38 and its 200-day simple moving average is $161.31.

Analysts Set New Price Targets

CVLT has been the topic of several research reports. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, January 29th. Cantor Fitzgerald boosted their target price on Commvault Systems from $159.00 to $173.00 and gave the stock 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 raised Commvault Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Finally, KeyCorp raised their target price on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Commvault Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.44.

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.