Atria Investments Inc Increases Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Atria Investments Inc lifted its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 10.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,950 shares of the software maker’s stock after acquiring an additional 268 shares during the quarter. Atria Investments Inc’s holdings in Commvault Systems were worth $445,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. State Street Corp boosted its stake in shares of Commvault Systems by 1.6% during the 3rd quarter. State Street Corp now owns 1,594,045 shares of the software maker’s stock worth $245,244,000 after acquiring an additional 25,082 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Commvault Systems by 604.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker’s stock worth $98,479,000 after purchasing an additional 555,656 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Commvault Systems by 25.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after purchasing an additional 120,779 shares during the last quarter. Congress Asset Management Co. raised its position in shares of Commvault Systems by 5.7% during the 4th quarter. Congress Asset Management Co. now owns 520,378 shares of the software maker’s stock worth $78,530,000 after purchasing an additional 28,216 shares during the last quarter. Finally, FMR LLC raised its holdings in Commvault Systems by 26.1% in the 3rd quarter. FMR LLC now owns 466,315 shares of the software maker’s stock valued at $71,743,000 after acquiring an additional 96,525 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

CVLT has been the subject of a number of research analyst reports. Cantor Fitzgerald upped their price objective on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. KeyCorp upped their price target on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Guggenheim reaffirmed a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. William Blair raised shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Finally, StockNews.com raised shares of Commvault Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $156.44.

Insider Transactions at Commvault Systems

In other news, insider Gary Merrill sold 3,287 shares of the 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 transaction, the insider now owns 87,316 shares of the company’s stock, valued at approximately $16,322,853.04. This trade represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mirchandani sold 12,318 shares of the stock in a transaction dated 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. The trade was 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

NASDAQ:CVLT opened at $159.17 on Friday. The firm has a 50-day moving average of $165.22 and a two-hundred day moving average of $160.48. The stock has a market cap of $7.00 billion, a P/E ratio of 41.78 and a beta of 0.62. Commvault Systems, Inc. has a 1-year low of $93.48 and a 1-year high of $190.11.

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.