Edgestream Partners L.P. Buys New Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Edgestream Partners L.P. bought a new stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 33,271 shares of the software maker’s stock, valued at approximately $5,021,000. Edgestream Partners L.P. owned 0.08% of Commvault Systems at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its holdings in Commvault Systems by 25.9% during the third 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 in the last quarter. Summit Partners Public Asset Management LLC bought a new position in Commvault Systems during the third quarter valued at about $67,722,000. Point72 Hong Kong Ltd grew its holdings in Commvault Systems by 37.9% during the third quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker’s stock worth $3,603,000 after acquiring an additional 6,433 shares during the period. Intech Investment Management LLC raised its position in Commvault Systems by 31.8% in the third quarter. Intech Investment Management LLC now owns 24,074 shares of the software maker’s stock worth $3,704,000 after acquiring an additional 5,805 shares in the last quarter. Finally, Centiva Capital LP raised its position in Commvault Systems by 193.2% in the third quarter. Centiva Capital LP now owns 8,567 shares of the software maker’s stock worth $1,318,000 after acquiring an additional 5,645 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on CVLT. KeyCorp increased their target price on shares of Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. StockNews.com upgraded Commvault Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Oppenheimer initiated coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 target price on the stock. Guggenheim reiterated a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Finally, William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Commvault Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.44.

Commvault Systems Price Performance

NASDAQ CVLT opened at $154.26 on Friday. The firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of 40.49 and a beta of 0.62. The company has a 50 day simple moving average of $165.27 and a 200-day simple moving average of $160.36. Commvault Systems, Inc. has a 52-week low of $93.48 and a 52-week high of $190.11.

Insiders Place Their Bets

In related news, CEO Sanjay Mirchandani sold 12,318 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 427,231 shares in the company, valued at approximately $79,447,876.76. This trade represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total value of $614,471.78. Following the sale, the insider now directly 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 position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

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.