Wells Fargo & Company MN Purchases 11,914 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Wells Fargo & Company MN raised its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 56.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,998 shares of the software maker's stock after buying an additional 11,914 shares during the period. Wells Fargo & Company MN owned about 0.07% of Commvault Systems worth $4,980,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

CVLT has been the topic of a number of research analyst reports. 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 reiterated a "neutral" rating on shares of Commvault Systems in a research report on Wednesday. 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 report on Wednesday, January 29th. KeyCorp cut their price objective on Commvault Systems from $195.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Finally, Piper Sandler decreased their target price on Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $158.00.

Insider Transactions at Commvault Systems

In related 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 $16,322,853.04. This trade represents 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 dated 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 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 position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Commvault Systems Trading Up 0.1 %

Commvault Systems stock traded up $0.12 during mid-day trading on Friday, hitting $163.44. The company had a trading volume of 161,937 shares, compared to its average volume of 409,433. Commvault Systems, Inc. has a 12 month low of $95.57 and a 12 month high of $190.11. The company has a market capitalization of $7.19 billion, a PE ratio of 42.84 and a beta of 0.68. The stock's 50 day moving average price is $159.73 and its two-hundred day moving average price is $161.59.

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.