Global Retirement Partners LLC Boosts Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Global Retirement Partners LLC increased its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 14,673.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,057 shares of the software maker’s stock after purchasing an additional 6,016 shares during the quarter. Global Retirement Partners LLC’s holdings in Commvault Systems were worth $914,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVLT. Creative Planning raised its holdings in shares of Commvault Systems by 66.0% in the 3rd quarter. Creative Planning now owns 12,150 shares of the software maker’s stock valued at $1,869,000 after acquiring an additional 4,829 shares in the last quarter. Raymond James & Associates increased its position in shares of Commvault Systems by 58.1% in the third quarter. Raymond James & Associates now owns 15,410 shares of the software maker’s stock worth $2,371,000 after purchasing an additional 5,661 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Commvault Systems by 365.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 91,869 shares of the software maker’s stock valued at $14,134,000 after purchasing an additional 72,146 shares in the last quarter. Signaturefd LLC lifted its position 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. Finally, International Assets Investment Management LLC purchased a new position in Commvault Systems in the 3rd quarter worth approximately $4,142,000. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CVLT has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their price objective 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. Cantor Fitzgerald lifted their price target on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Oppenheimer started coverage on 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 raised their price objective on Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, William Blair raised Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $156.44.

Insider Activity at Commvault Systems

In related news, CEO Sanjay Mirchandani sold 12,318 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the transaction, the chief executive officer now owns 427,231 shares in the company, valued at $79,447,876.76. The trade was a 2.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gary Merrill sold 3,287 shares of the company’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 transaction, the insider now directly owns 87,316 shares of the company’s stock, valued at $16,322,853.04. The trade was a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,837 shares of company stock worth $3,117,647 in the last three months. 1.00% of the stock is owned by insiders.

Commvault Systems Stock Performance

Shares of CVLT stock opened at $170.61 on Friday. The company has a market capitalization of $7.51 billion, a P/E ratio of 44.78 and a beta of 0.65. Commvault Systems, Inc. has a fifty-two week low of $92.36 and a fifty-two week high of $190.11. The stock has a 50 day moving average price of $163.97 and a two-hundred day moving average price of $158.89.

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.