Harvest Investment Services LLC Invests $773,000 in Commvault Systems, Inc. (NASDAQ:CVLT)

Harvest Investment Services LLC purchased a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,125 shares of the software maker's stock, valued at approximately $773,000.

Other hedge funds have also added to or reduced their stakes in the company. Invesco Ltd. increased its stake in shares of Commvault Systems by 57.7% during the fourth quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker's stock valued at $250,527,000 after purchasing an additional 607,643 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Commvault Systems by 604.8% during 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 in the last quarter. Norges Bank purchased a new stake in shares of Commvault Systems during the 4th quarter valued at about $79,619,000. WCM Investment Management LLC bought a new stake in Commvault Systems in the 4th quarter worth approximately $10,303,000. Finally, Sei Investments Co. grew its holdings in shares of Commvault Systems by 63.9% in the fourth quarter. Sei Investments Co. now owns 157,111 shares of the software maker's stock worth $23,708,000 after acquiring an additional 61,243 shares during the period. 93.50% of the stock is owned by institutional investors.

Commvault Systems Stock Performance

Shares of CVLT traded down $1.93 during midday trading on Monday, hitting $163.58. 147,096 shares of the stock were exchanged, compared to its average volume of 479,110. The stock has a fifty day simple moving average of $159.28 and a 200 day simple moving average of $161.65. Commvault Systems, Inc. has a 52-week low of $97.63 and a 52-week high of $190.11. The firm has a market cap of $7.20 billion, a P/E ratio of 42.93 and a beta of 0.68.

Insider Buying and Selling

In related news, insider Gary Merrill sold 3,287 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value of $614,471.78. Following the completion of the sale, the insider now directly owns 87,316 shares of the company's stock, valued at $16,322,853.04. This represents a 3.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 427,231 shares of the company's stock, valued at $79,447,876.76. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CVLT. Guggenheim restated a "neutral" rating on shares of Commvault Systems in a research note on Wednesday, April 23rd. Cantor Fitzgerald increased their target price on Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. KeyCorp lowered their price target on Commvault Systems from $195.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. William Blair upgraded shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a research note on Thursday, January 30th. Finally, StockNews.com upgraded Commvault Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $158.00.

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.