Oppenheimer & Co. Inc. Takes $367,000 Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Oppenheimer & Co. Inc. bought a new stake in Commvault Systems, Inc. (NASDAQ:CVLT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,433 shares of the software maker’s stock, valued at approximately $367,000.

Other large investors also recently modified their holdings of the company. Convergence Financial LLC purchased a new stake in shares of Commvault Systems during the fourth quarter valued at approximately $209,000. Illinois Municipal Retirement Fund purchased a new stake in shares of Commvault Systems during the fourth quarter valued at approximately $733,000. Los Angeles Capital Management LLC increased its position in shares of Commvault Systems by 31.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 36,322 shares of the software maker’s stock valued at $5,481,000 after acquiring an additional 8,613 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Commvault Systems during the fourth quarter valued at approximately $1,454,000. Finally, Allianz Asset Management GmbH increased its position in shares of Commvault Systems by 8.5% during the fourth quarter. Allianz Asset Management GmbH now owns 357,121 shares of the software maker’s stock valued at $53,893,000 after acquiring an additional 28,016 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CVLT. StockNews.com raised Commvault Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. William Blair raised Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Cantor Fitzgerald raised their target price on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Finally, KeyCorp raised their target price on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Commvault Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.44.

Insider Transactions at Commvault Systems

In other news, insider Gary Merrill sold 3,287 shares of the firm’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 completion of the transaction, the insider now directly owns 87,316 shares of the company’s stock, valued at $16,322,853.04. This trade represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 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 sale, the chief executive officer now directly owns 427,231 shares of the company’s stock, valued at $79,447,876.76. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Commvault Systems Price Performance

Commvault Systems stock opened at $154.26 on Friday. Commvault Systems, Inc. has a one year low of $93.48 and a one year high of $190.11. The business has a fifty day moving average price of $165.27 and a 200-day moving average price of $160.36. The firm has a market capitalization of $6.79 billion, a P/E ratio of 40.49 and a beta of 0.62.

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.