Commvault Systems, Inc. (NASDAQ:CVLT) Stake Boosted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 604.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 647,525 shares of the software maker’s stock after buying an additional 555,656 shares during the period. Allspring Global Investments Holdings LLC owned about 1.48% of Commvault Systems worth $98,479,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of Commvault Systems in the third quarter worth $33,000. Point72 DIFC Ltd acquired a new stake in Commvault Systems during the 3rd quarter worth about $71,000. Signaturefd LLC boosted its position in Commvault Systems by 43.9% during the 3rd quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock worth $91,000 after acquiring an additional 180 shares during the period. TD Private Client Wealth LLC acquired a new position in shares of Commvault Systems in the 3rd quarter valued at about $105,000. Finally, Blue Trust Inc. lifted its position in shares of Commvault Systems by 38,400.0% in the fourth quarter. Blue Trust Inc. now owns 770 shares of the software maker’s stock worth $118,000 after purchasing an additional 768 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Sanjay Mirchandani sold 10,775 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the completion of the sale, the chief executive officer now directly owns 459,969 shares of the company’s stock, valued at approximately $76,032,875.70. This represents a 2.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction on Friday, November 29th. The stock was sold at an average price of $172.50, for a total transaction of $212,520.00. Following the completion of the transaction, the director now owns 5,899 shares in the company, valued at $1,017,577.50. This trade represents a 17.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,530 shares of company stock valued at $2,244,755. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CVLT. Oppenheimer assumed coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective on the stock. KeyCorp boosted their price target on shares of Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. StockNews.com downgraded shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. William Blair raised Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Finally, Royal Bank of Canada upped their target price on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Commvault Systems presently has a consensus rating of “Moderate Buy” and an average target price of $156.44.

Commvault Systems Price Performance

NASDAQ CVLT opened at $178.55 on Thursday. Commvault Systems, Inc. has a fifty-two week low of $90.32 and a fifty-two week high of $181.51. The stock’s 50-day moving average is $162.44 and its two-hundred day moving average is $157.05. The firm has a market cap of $7.86 billion, a P/E ratio of 46.86 and a beta of 0.65.

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.