Russell Investments Group Ltd. Increases Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Russell Investments Group Ltd. increased its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 14.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 181,143 shares of the software maker’s stock after acquiring an additional 22,653 shares during the period. Russell Investments Group Ltd.’s holdings in Commvault Systems were worth $27,361,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CVLT. Vanguard Group Inc. grew its stake in shares of Commvault Systems by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,636,559 shares of the software maker’s stock valued at $850,613,000 after purchasing an additional 54,562 shares during the last quarter. State Street Corp increased its stake 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 valued at $245,244,000 after buying an additional 25,082 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Commvault Systems by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 1,288,068 shares of the software maker’s stock valued at $194,681,000 after acquiring an additional 43,088 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in 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 valued at $98,479,000 after purchasing an additional 555,656 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Commvault Systems by 0.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 632,870 shares of the software maker’s stock valued at $95,506,000 after purchasing an additional 4,957 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling at Commvault Systems

In other news, insider Gary Merrill sold 3,287 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total value of $614,471.78. Following the completion of the transaction, the insider now owns 87,316 shares of the company’s stock, valued at $16,322,853.04. The trade was a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of the business’s stock in a transaction on 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 completion of the transaction, 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 disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Commvault Systems Price Performance

CVLT stock opened at $140.51 on Wednesday. Commvault Systems, Inc. has a 12 month low of $93.48 and a 12 month high of $190.11. The firm has a market capitalization of $6.18 billion, a PE ratio of 36.88 and a beta of 0.68. The company’s 50 day simple moving average is $165.03 and its 200-day simple moving average is $161.66.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CVLT shares. Piper Sandler cut their target price on Commvault Systems from $154.00 to $147.00 and set a “neutral” rating for the company in a research note on Tuesday. Guggenheim reiterated a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research 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 company a “neutral” rating in a research note on Wednesday, January 29th. Finally, KeyCorp upped their target price 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. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, 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.