Prudential Financial Inc. Increases Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Prudential Financial Inc. increased its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 64.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,870 shares of the software maker’s stock after acquiring an additional 49,889 shares during the period. Prudential Financial Inc. owned approximately 0.29% of Commvault Systems worth $19,146,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of Commvault Systems by 604.8% in 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 period. Summit Partners Public Asset Management LLC purchased a new position in Commvault Systems during the third quarter worth $67,722,000. Charles Schwab Investment Management Inc. increased its position 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 valued at $90,278,000 after acquiring an additional 120,779 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Commvault Systems in the third quarter valued at $15,264,000. Finally, FMR LLC lifted its holdings in shares of Commvault Systems by 26.1% in the 3rd quarter. FMR LLC now owns 466,315 shares of the software maker’s stock worth $71,743,000 after acquiring an additional 96,525 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Insider Transactions at Commvault Systems

In related news, insider Gary Merrill sold 3,287 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 87,316 shares of the company’s stock, valued at $16,322,853.04. The trade was a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of the company’s stock in a transaction 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 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

NASDAQ:CVLT opened at $165.24 on Thursday. The firm has a market cap of $7.27 billion, a PE ratio of 43.37 and a beta of 0.62. The company has a 50-day moving average of $166.38 and a 200 day moving average of $161.31. Commvault Systems, Inc. has a 1-year low of $93.48 and a 1-year high of $190.11.

Analyst Ratings Changes

CVLT has been the topic of a number of recent analyst reports. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. StockNews.com upgraded Commvault Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. KeyCorp increased their target price on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, Cantor Fitzgerald lifted 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. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $156.44.

Commvault Systems Company 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.