Harvest Investment Services LLC Purchases Shares of 5,125 Commvault Systems, Inc. (NASDAQ:CVLT)

Harvest Investment Services LLC acquired a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 5,125 shares of the software maker’s stock, valued at approximately $773,000.

Several other hedge funds have also modified their holdings of CVLT. TFC Financial Management Inc. grew its stake in shares of Commvault Systems by 294.1% in the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock valued at $61,000 after buying an additional 300 shares in the last quarter. GeoWealth Management LLC acquired a new stake in Commvault Systems in the fourth quarter valued at approximately $101,000. Blue Trust Inc. grew its position in Commvault Systems by 37,400.0% in the fourth quarter. Blue Trust Inc. now owns 750 shares of the software maker’s stock valued at $113,000 after acquiring an additional 748 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Commvault Systems during the fourth quarter valued at approximately $127,000. Finally, GAMMA Investing LLC lifted its position in shares of Commvault Systems by 13.7% during the fourth quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker’s stock worth $152,000 after purchasing an additional 121 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value of $614,471.78. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanjay Mirchandani sold 12,318 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total value of $2,290,655.28. Following the sale, the chief executive officer now directly owns 427,231 shares of the company’s stock, valued at approximately $79,447,876.76. This represents a 2.80 % 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.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. KeyCorp dropped their price target on shares of Commvault Systems from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. StockNews.com raised Commvault Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Finally, Piper Sandler cut their target price on Commvault Systems from $154.00 to $147.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Commvault Systems has an average rating of “Moderate Buy” and a consensus price target of $158.00.

Commvault Systems Stock Performance

CVLT opened at $149.60 on Wednesday. The stock’s fifty day moving average is $160.78 and its 200-day moving average is $161.57. Commvault Systems, Inc. has a one year low of $95.14 and a one year high of $190.11. The company has a market capitalization of $6.58 billion, a PE ratio of 39.27 and a beta of 0.68.

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.