Commvault Systems, Inc. (NASDAQ:CVLT) Shares Acquired by Pinebridge Investments L.P.

Pinebridge Investments L.P. raised its position in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 47.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,682 shares of the software maker's stock after acquiring an additional 4,380 shares during the period. Pinebridge Investments L.P.'s holdings in Commvault Systems were worth $2,065,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. TFC Financial Management Inc. boosted its stake in Commvault Systems by 294.1% in the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker's stock worth $61,000 after purchasing an additional 300 shares in the last quarter. GeoWealth Management LLC acquired a new stake in shares of Commvault Systems during the fourth quarter worth $101,000. Blue Trust Inc. grew its holdings 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 valued at $113,000 after buying an additional 748 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Commvault Systems in the 4th quarter valued at $127,000. Finally, GAMMA Investing LLC raised 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 worth $152,000 after acquiring an additional 121 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wells Fargo & Company boosted their price target on Commvault Systems from $180.00 to $190.00 and gave the company an "overweight" rating in a research note on Wednesday. StockNews.com upgraded Commvault Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Oppenheimer raised their price target on shares of Commvault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a research report on Wednesday. Royal Bank of Canada upped their price objective on shares of Commvault Systems from $175.00 to $185.00 and gave the company a "sector perform" rating in a report on Wednesday. Finally, William Blair raised shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a report on Thursday, January 30th. 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $166.67.

Insider Transactions at Commvault Systems

In related news, insider Gary Merrill sold 3,287 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $614,471.78. Following the completion of the transaction, the insider now owns 87,316 shares in the company, valued at $16,322,853.04. This represents a 3.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems 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 sale, the chief executive officer now owns 427,231 shares in the company, valued at approximately $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. Corporate insiders own 1.00% of the company's stock.

Commvault Systems Trading Down 0.7 %

CVLT traded down $1.11 on Thursday, reaching $166.02. The stock had a trading volume of 516,692 shares, compared to its average volume of 414,373. The business's 50-day moving average price is $158.49 and its two-hundred day moving average price is $161.76. The company has a market cap of $7.30 billion, a P/E ratio of 43.57 and a beta of 0.68. Commvault Systems, Inc. has a 12-month low of $101.54 and a 12-month high of $190.11.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.10. The firm had revenue of $275.04 million during the quarter, compared to analyst estimates of $262.52 million. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. Commvault Systems's revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 EPS. As a group, analysts predict that Commvault Systems, Inc. will post 1.65 earnings per share for the current year.

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.