Sumitomo Mitsui Trust Group Inc. Purchases 620 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Sumitomo Mitsui Trust Group Inc. grew its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 8.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,208 shares of the software maker’s stock after buying an additional 620 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Commvault Systems were worth $1,239,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CVLT. Capital Performance Advisors LLP bought a new position in shares of Commvault Systems in the third quarter worth $33,000. Point72 DIFC Ltd bought a new position in shares of Commvault Systems in the third quarter worth $71,000. Signaturefd LLC increased its position in shares of Commvault Systems by 43.9% in the third quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock worth $91,000 after purchasing an additional 180 shares during the period. TD Private Client Wealth LLC bought a new position in shares of Commvault Systems in the third quarter worth $105,000. Finally, Blue Trust Inc. increased its position in shares of Commvault Systems by 38,400.0% in the fourth quarter. Blue Trust Inc. now owns 770 shares of the software maker’s stock worth $118,000 after purchasing an additional 768 shares during the period. Institutional investors own 93.50% of the company’s stock.

Insider Activity

In related news, insider Gary Merrill sold 1,523 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $164.89, for a total transaction of $251,127.47. Following the completion of the sale, the insider now owns 93,007 shares in the company, valued at approximately $15,335,924.23. This represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sanjay Mirchandani sold 10,775 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $165.30, for a total value of $1,781,107.50. Following the sale, the chief executive officer now owns 459,969 shares of the company’s stock, valued at $76,032,875.70. This trade represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,530 shares of company stock worth $2,244,755 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. KeyCorp lifted their target price on Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Cantor Fitzgerald lifted 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. Finally, Guggenheim reiterated a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.44.

Commvault Systems Stock Performance

Shares of CVLT stock opened at $184.91 on Friday. The company has a market cap of $8.14 billion, a P/E ratio of 48.53 and a beta of 0.65. The stock has a 50 day simple moving average of $162.74 and a two-hundred day simple moving average of $157.38. Commvault Systems, Inc. has a fifty-two week low of $90.32 and a fifty-two week high of $186.52.

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.