Meeder Asset Management Inc. Invests $127,000 in Commvault Systems, Inc. (NASDAQ:CVLT)

Meeder Asset Management Inc. purchased a new stake in Commvault Systems, Inc. (NASDAQ:CVLT) in the fourth quarter, HoldingsChannel reports. The firm purchased 843 shares of the software maker’s stock, valued at approximately $127,000.

A number of other hedge funds have also modified their holdings of CVLT. Virtu Financial LLC grew its position in shares of Commvault Systems by 63.9% in the 4th quarter. Virtu Financial LLC now owns 8,243 shares of the software maker’s stock valued at $1,244,000 after purchasing an additional 3,214 shares during the period. Centiva Capital LP boosted its holdings in shares of Commvault Systems by 193.2% in the third quarter. Centiva Capital LP now owns 8,567 shares of the software maker’s stock valued at $1,318,000 after buying an additional 5,645 shares during the period. Banco Santander S.A. bought a new stake in shares of Commvault Systems during the fourth quarter worth $833,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Commvault Systems during the fourth quarter worth $367,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Commvault Systems by 604.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker’s stock valued at $98,479,000 after acquiring an additional 555,656 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Commvault Systems Stock Up 3.3 %

Commvault Systems stock opened at $162.94 on Wednesday. Commvault Systems, Inc. has a twelve month low of $93.48 and a twelve month high of $190.11. The company’s 50-day moving average price is $166.37 and its two-hundred day moving average price is $161.89. The stock has a market cap of $7.17 billion, a P/E ratio of 42.77 and a beta of 0.62.

Insider Buying and Selling

In other news, insider Gary Merrill sold 3,287 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total transaction of $614,471.78. Following the sale, the insider now directly owns 87,316 shares of the company’s stock, valued at approximately $16,322,853.04. This represents a 3.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Mirchandani sold 12,318 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was 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 in the company, valued at $79,447,876.76. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Cantor Fitzgerald increased their target price on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. KeyCorp increased their target price on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. StockNews.com upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Commvault Systems presently has a consensus rating of “Moderate Buy” and an average price target of $156.44.

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.