Bank of Montreal Can Has $1.56 Million Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Bank of Montreal Can grew its holdings in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 83.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,304 shares of the software maker's stock after buying an additional 4,691 shares during the period. Bank of Montreal Can's holdings in Commvault Systems were worth $1,555,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVLT. TFC Financial Management Inc. lifted its position in Commvault Systems by 294.1% during the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker's stock worth $61,000 after acquiring an additional 300 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Commvault Systems by 37,400.0% during the fourth quarter. Blue Trust Inc. now owns 750 shares of the software maker's stock worth $113,000 after purchasing an additional 748 shares during the period. Meeder Asset Management Inc. acquired a new stake in Commvault Systems during the 4th quarter worth approximately $127,000. GAMMA Investing LLC boosted its stake in Commvault Systems by 13.7% in the 4th quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker's stock valued at $152,000 after purchasing an additional 121 shares during the period. Finally, AlphaQuest LLC grew its holdings in Commvault Systems by 69.1% in the 4th quarter. AlphaQuest LLC now owns 1,023 shares of the software maker's stock valued at $154,000 after buying an additional 418 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CVLT shares. William Blair raised shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. Guggenheim reissued a "neutral" rating on shares of Commvault Systems in a report on Wednesday, January 29th. Piper Sandler lowered their target price on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Cantor Fitzgerald boosted their price target on 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 lowered their price objective on Commvault Systems from $195.00 to $185.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Five investment 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 presently has a consensus rating of "Moderate Buy" and an average price target of $158.00.

Commvault Systems Stock Up 5.2 %

Shares of CVLT traded up $7.82 during midday trading on Wednesday, hitting $157.42. The company's stock had a trading volume of 84,966 shares, compared to its average volume of 407,314. Commvault Systems, Inc. has a one year low of $95.14 and a one year high of $190.11. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of 41.32 and a beta of 0.68. The company's fifty day simple moving average is $160.78 and its two-hundred day simple moving average is $161.57.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of the firm'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 sale, the insider now owns 87,316 shares in the company, valued at $16,322,853.04. This trade represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the business's stock in a transaction on 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 sale, the chief executive officer now directly owns 427,231 shares in the company, valued at approximately $79,447,876.76. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. 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.