Intech Investment Management LLC Raises Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Intech Investment Management LLC raised its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 105.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 49,411 shares of the software maker’s stock after purchasing an additional 25,337 shares during the quarter. Intech Investment Management LLC owned 0.11% of Commvault Systems worth $7,457,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. State Street Corp increased its holdings in Commvault Systems by 1.6% in the 3rd quarter. State Street Corp now owns 1,594,045 shares of the software maker’s stock worth $245,244,000 after buying an additional 25,082 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Commvault Systems by 604.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker’s stock worth $98,479,000 after acquiring an additional 555,656 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Commvault Systems by 25.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after purchasing an additional 120,779 shares during the last quarter. Congress Asset Management Co. lifted its position in Commvault Systems by 5.7% during the fourth quarter. Congress Asset Management Co. now owns 520,378 shares of the software maker’s stock valued at $78,530,000 after purchasing an additional 28,216 shares during the period. Finally, FMR LLC boosted its holdings in Commvault Systems by 26.1% in the third quarter. FMR LLC now owns 466,315 shares of the software maker’s stock valued at $71,743,000 after purchasing an additional 96,525 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Commvault Systems Stock Up 0.3 %

CVLT opened at $161.09 on Wednesday. The company has a market cap of $7.09 billion, a price-to-earnings ratio of 42.28 and a beta of 0.62. The firm’s fifty day simple moving average is $165.38 and its two-hundred day simple moving average is $160.64. Commvault Systems, Inc. has a 52-week low of $93.48 and a 52-week high of $190.11.

Analysts Set New Price Targets

CVLT has been the subject of a number of recent research reports. StockNews.com upgraded Commvault Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. William Blair raised Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Cantor Fitzgerald raised their price objective on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. KeyCorp lifted their target price 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. Finally, Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Commvault Systems presently has a consensus rating of “Moderate Buy” and an average target price of $156.44.

Insider Activity at Commvault Systems

In other news, CEO Sanjay Mirchandani sold 12,318 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total value 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 approximately $79,447,876.76. This trade represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Gary Merrill sold 3,287 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $614,471.78. Following the completion of the sale, the insider now 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 disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

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.