WCM Investment Management LLC Invests $10.30 Million in Commvault Systems, Inc. (NASDAQ:CVLT)

WCM Investment Management LLC purchased a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 68,144 shares of the software maker’s stock, valued at approximately $10,303,000.

Other hedge funds have also bought and sold shares of the company. Nisa Investment Advisors LLC raised its stake in Commvault Systems by 3.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker’s stock valued at $296,000 after buying an additional 66 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Commvault Systems by 13.7% during the 4th quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker’s stock valued at $152,000 after acquiring an additional 121 shares in the last quarter. OLD National Bancorp IN lifted its stake in Commvault Systems by 7.1% during the fourth quarter. OLD National Bancorp IN now owns 2,187 shares of the software maker’s stock worth $330,000 after purchasing an additional 145 shares during the last quarter. Lindenwold Advisors INC boosted its holdings in Commvault Systems by 2.4% in the third quarter. Lindenwold Advisors INC now owns 7,028 shares of the software maker’s stock worth $1,081,000 after purchasing an additional 164 shares during the period. Finally, Signaturefd LLC increased its stake in Commvault Systems by 43.9% during the third quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock valued at $91,000 after purchasing an additional 180 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Commvault Systems Price Performance

Shares of Commvault Systems stock opened at $175.82 on Monday. Commvault Systems, Inc. has a 1-year low of $90.32 and a 1-year high of $180.51. The business’s fifty day moving average price is $162.11 and its two-hundred day moving average price is $156.02. The company has a market capitalization of $7.74 billion, a P/E ratio of 46.15 and a beta of 0.65.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CVLT. KeyCorp raised their price target on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada raised their target price on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Cantor Fitzgerald increased their price target on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Guggenheim restated a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $156.44.

Insider Activity

In other news, Director Allison Pickens sold 1,232 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $172.50, for a total value of $212,520.00. Following the completion of the transaction, the director now directly owns 5,899 shares in the company, valued at $1,017,577.50. This trade represents a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gary Merrill sold 1,523 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $164.89, for a total transaction of $251,127.47. Following the transaction, the insider now owns 93,007 shares in the company, valued at $15,335,924.23. This represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,530 shares of company stock valued at $2,244,755. Company insiders own 1.00% of the company’s stock.

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.