Jupiter Asset Management Ltd. Cuts Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Jupiter Asset Management Ltd. trimmed its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 4.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 233,025 shares of the software maker’s stock after selling 9,885 shares during the period. Jupiter Asset Management Ltd.’s holdings in Commvault Systems were worth $35,166,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CVLT. Allspring Global Investments Holdings LLC lifted its stake in 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 valued at $98,479,000 after acquiring an additional 555,656 shares during the period. Summit Partners Public Asset Management LLC bought a new position in Commvault Systems during the 3rd quarter valued at about $67,722,000. Charles Schwab Investment Management Inc. lifted its stake in 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 valued at $90,278,000 after acquiring an additional 120,779 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new position in Commvault Systems during the 3rd quarter valued at about $15,264,000. Finally, FMR LLC lifted its stake in Commvault Systems by 26.1% during 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 period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Commvault Systems Trading Up 2.3 %

NASDAQ CVLT opened at $151.95 on Wednesday. Commvault Systems, Inc. has a 12 month low of $93.48 and a 12 month high of $190.11. The stock has a market cap of $6.69 billion, a price-to-earnings ratio of 39.88 and a beta of 0.62. The company’s 50 day moving average is $165.24 and its two-hundred day moving average is $160.50.

Insiders Place Their Bets

In other Commvault Systems news, CEO Sanjay Mirchandani sold 12,318 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the sale, the chief executive officer now owns 427,231 shares in the company, valued at approximately $79,447,876.76. This trade represents a 2.80 % decrease in their position. The transaction 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 the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total transaction of $614,471.78. Following the sale, the insider now owns 87,316 shares in the company, 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. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CVLT has been the topic of several research analyst reports. Cantor Fitzgerald upped their target price on shares of Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. StockNews.com upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Oppenheimer began coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price objective on the stock. Guggenheim reiterated a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, January 29th. Finally, KeyCorp increased their price objective on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $156.44.

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.