Ossiam Takes $1.18 Million Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Ossiam acquired a new stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,813 shares of the software maker's stock, valued at approximately $1,179,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. First Trust Advisors LP lifted its holdings in Commvault Systems by 30.2% during the fourth quarter. First Trust Advisors LP now owns 104,448 shares of the software maker's stock valued at $15,762,000 after purchasing an additional 24,227 shares in the last quarter. GeoWealth Management LLC purchased a new position in shares of Commvault Systems in the fourth quarter worth about $101,000. Alpha DNA Investment Management LLC purchased a new position in shares of Commvault Systems in the fourth quarter worth about $429,000. CANADA LIFE ASSURANCE Co lifted its stake in shares of Commvault Systems by 2.5% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 88,359 shares of the software maker's stock worth $13,315,000 after buying an additional 2,140 shares in the last quarter. Finally, Farringdon Capital Ltd. purchased a new position in shares of Commvault Systems in the fourth quarter worth about $269,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CVLT shares. Guggenheim reissued a "neutral" rating on shares of Commvault Systems in a research note on Wednesday. Piper Sandler decreased their price target on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Cantor Fitzgerald raised their price target on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. StockNews.com raised shares of Commvault Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. Finally, KeyCorp cut their price target on shares of Commvault Systems from $195.00 to $185.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $158.00.

Commvault Systems Stock Up 1.3 %

NASDAQ:CVLT traded up $2.19 during trading hours on Friday, reaching $165.51. 413,106 shares of the stock were exchanged, compared to its average volume of 411,825. The business has a 50-day moving average of $159.28 and a two-hundred day moving average of $161.65. Commvault Systems, Inc. has a twelve month low of $97.63 and a twelve month high of $190.11. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of 43.44 and a beta of 0.68.

Insiders Place Their Bets

In other Commvault Systems news, CEO Sanjay Mirchandani sold 12,318 shares of the company'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 transaction, the chief executive officer now directly owns 427,231 shares in the company, valued at $79,447,876.76. This represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary Merrill sold 3,287 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value of $614,471.78. Following the transaction, 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 disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

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.