Commvault Systems, Inc. (NASDAQ:CVLT) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 17.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,530 shares of the software maker’s stock after acquiring an additional 1,600 shares during the period. Handelsbanken Fonder AB’s holdings in Commvault Systems were worth $1,589,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVLT. State Street Corp grew its position in Commvault Systems by 1.6% during the third quarter. State Street Corp now owns 1,594,045 shares of the software maker’s stock valued at $245,244,000 after acquiring an additional 25,082 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in 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 buying an additional 555,656 shares in the last quarter. Charles Schwab Investment Management Inc. grew 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 purchasing an additional 120,779 shares in the last quarter. Congress Asset Management Co. raised its holdings in Commvault Systems by 5.7% in the fourth quarter. Congress Asset Management Co. now owns 520,378 shares of the software maker’s stock valued at $78,530,000 after acquiring an additional 28,216 shares in the last quarter. Finally, FMR LLC grew its stake in Commvault Systems by 26.1% in the third quarter. FMR LLC now owns 466,315 shares of the software maker’s stock worth $71,743,000 after purchasing an additional 96,525 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In other Commvault Systems news, 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 sale, the insider now directly owns 87,316 shares in the company, valued at $16,322,853.04. This represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total value of $2,290,655.28. Following the transaction, the chief executive officer now directly owns 427,231 shares of the company’s stock, valued at approximately $79,447,876.76. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,837 shares of company stock worth $3,117,647 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CVLT. Royal Bank of Canada upped their price objective on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. KeyCorp upped their price objective 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 shares of Commvault Systems from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $156.44.

Commvault Systems Trading Up 1.7 %

Shares of NASDAQ:CVLT opened at $171.85 on Thursday. The firm has a market capitalization of $7.56 billion, a PE ratio of 45.11 and a beta of 0.65. Commvault Systems, Inc. has a 1-year low of $93.48 and a 1-year high of $190.11. The business’s 50 day moving average is $164.04 and its 200-day moving average is $159.66.

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.