Commvault Systems, Inc. (NASDAQ:CVLT) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,439 shares of the software maker’s stock after buying an additional 93 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Commvault Systems were worth $368,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC boosted its holdings in Commvault Systems by 3.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker’s stock worth $296,000 after acquiring an additional 66 shares during the period. CIBC Asset Management Inc lifted its position in shares of Commvault Systems by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker’s stock worth $213,000 after purchasing an additional 75 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Commvault Systems by 13.7% in the fourth quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker’s stock valued at $152,000 after purchasing an additional 121 shares during the period. New York State Common Retirement Fund grew its holdings in Commvault Systems by 1.0% during the 4th quarter. New York State Common Retirement Fund now owns 13,713 shares of the software maker’s stock valued at $2,069,000 after purchasing an additional 141 shares in the last quarter. Finally, OLD National Bancorp IN increased its stake in Commvault Systems by 7.1% during the 4th quarter. OLD National Bancorp IN now owns 2,187 shares of the software maker’s stock worth $330,000 after buying an additional 145 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Cantor Fitzgerald raised their target price on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. KeyCorp increased their price target on Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. StockNews.com upgraded Commvault Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Finally, William Blair raised shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Five 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, the stock has an average rating of “Moderate Buy” and an average price target of $156.44.

Insider Buying and Selling at Commvault Systems

In related news, CEO Sanjay Mirchandani sold 12,318 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 427,231 shares of the company’s stock, valued at approximately $79,447,876.76. This trade represents a 2.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gary Merrill sold 3,287 shares of the company’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 transaction, the insider now owns 87,316 shares of the company’s stock, valued at approximately $16,322,853.04. The trade was a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Commvault Systems Trading Down 1.9 %

CVLT stock opened at $162.21 on Friday. The stock’s 50 day simple moving average is $165.62 and its 200 day simple moving average is $160.69. Commvault Systems, Inc. has a 12-month low of $93.48 and a 12-month high of $190.11. The firm has a market cap of $7.14 billion, a P/E ratio of 42.57 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.