CenterBook Partners LP Raises Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

CenterBook Partners LP lifted its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 18.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,282 shares of the software maker’s stock after purchasing an additional 1,764 shares during the period. CenterBook Partners LP’s holdings in Commvault Systems were worth $1,703,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CVLT. Invesco Ltd. grew its position in Commvault Systems by 57.7% during the 4th quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker’s stock worth $250,527,000 after purchasing an additional 607,643 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Commvault Systems by 604.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker’s stock worth $98,479,000 after buying an additional 555,656 shares during the period. Norges Bank purchased a new position in shares of Commvault Systems during the fourth quarter worth about $79,619,000. WCM Investment Management LLC acquired a new position in Commvault Systems in the 4th quarter valued at about $10,303,000. Finally, Sei Investments Co. raised its stake in Commvault Systems by 63.9% during the 4th quarter. Sei Investments Co. now owns 157,111 shares of the software maker’s stock valued at $23,708,000 after acquiring an additional 61,243 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Commvault Systems

In related news, CEO Sanjay Mirchandani sold 12,318 shares of the 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 sale, the chief executive officer now owns 427,231 shares of the company’s stock, valued at $79,447,876.76. This trade represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary Merrill sold 3,287 shares of Commvault Systems 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 sale, 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 position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Commvault Systems Stock Down 4.0 %

Shares of CVLT stock opened at $151.39 on Friday. Commvault Systems, Inc. has a fifty-two week low of $93.48 and a fifty-two week high of $190.11. The business has a fifty day simple moving average of $164.84 and a 200-day simple moving average of $161.65. The stock has a market cap of $6.66 billion, a P/E ratio of 39.74 and a beta of 0.68.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CVLT. KeyCorp boosted their target price on Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. StockNews.com upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. William Blair raised shares of 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. Finally, Piper Sandler dropped their target price on Commvault Systems from $154.00 to $147.00 and set a “neutral” rating on the stock in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $159.11.

Commvault Systems 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.