TD Waterhouse Canada Inc. Grows Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

TD Waterhouse Canada Inc. increased its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 34,620.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,013 shares of the software maker's stock after buying an additional 16,964 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Commvault Systems were worth $2,564,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. TFC Financial Management Inc. increased its holdings 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 buying an additional 300 shares during the period. GeoWealth Management LLC acquired a new position in Commvault Systems during the fourth quarter valued at $101,000. Blue Trust Inc. boosted its holdings in Commvault Systems by 37,400.0% in the fourth quarter. Blue Trust Inc. now owns 750 shares of the software maker's stock valued at $113,000 after purchasing an additional 748 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Commvault Systems during the 4th quarter worth about $127,000. Finally, GAMMA Investing LLC raised its stake in shares of Commvault Systems by 13.7% during the 4th 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 last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Commvault Systems Price Performance

Shares of NASDAQ:CVLT traded up $2.84 during trading on Tuesday, hitting $168.80. 218,714 shares of the company were exchanged, compared to its average volume of 412,093. The stock has a market capitalization of $7.43 billion, a P/E ratio of 44.30 and a beta of 0.68. The firm's 50 day moving average price is $158.88 and its 200-day moving average price is $161.67. Commvault Systems, Inc. has a 12-month low of $97.63 and a 12-month high of $190.11.

Wall Street Analyst Weigh In

Several research firms have commented on CVLT. StockNews.com raised shares of Commvault Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. William Blair upgraded Commvault Systems from a "market perform" rating to an "outperform" rating in a report on Thursday, January 30th. Piper Sandler dropped their price target on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Cantor Fitzgerald increased their price target on Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Finally, Guggenheim restated a "neutral" rating on shares of Commvault Systems in a research note on Wednesday, April 23rd. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Commvault Systems has an average rating of "Moderate Buy" and a consensus target price of $158.00.

Insider Buying and Selling

In related news, insider Gary Merrill sold 3,287 shares of the company's stock in a transaction that occurred 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 sale, the insider now owns 87,316 shares of the company's stock, valued at approximately $16,322,853.04. This represents a 3.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sanjay Mirchandani sold 12,318 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total transaction 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 $79,447,876.76. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate 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.