GeoWealth Management LLC Makes New $101,000 Investment in Commvault Systems, Inc. (NASDAQ:CVLT)

GeoWealth Management LLC bought a new stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 672 shares of the software maker’s stock, valued at approximately $101,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Invesco Ltd. grew its stake in shares of Commvault Systems by 57.7% in the 4th quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker’s stock worth $250,527,000 after buying an additional 607,643 shares in the last quarter. Allspring Global Investments Holdings LLC lifted 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 valued at $98,479,000 after acquiring an additional 555,656 shares during the last quarter. Norges Bank purchased a new position in Commvault Systems in the fourth quarter worth about $79,619,000. WCM Investment Management LLC bought a new stake in Commvault Systems during the fourth quarter worth approximately $10,303,000. Finally, Sei Investments Co. raised its position in Commvault Systems by 63.9% during the fourth quarter. Sei Investments Co. now owns 157,111 shares of the software maker’s stock valued at $23,708,000 after purchasing an additional 61,243 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Sanjay Mirchandani sold 12,318 shares of the 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Merrill sold 3,287 shares of the business’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 completion of the transaction, the insider now directly owns 87,316 shares of the company’s stock, valued at $16,322,853.04. This trade represents 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.

Commvault Systems Stock Up 6.2 %

Shares of NASDAQ CVLT opened at $163.32 on Friday. Commvault Systems, Inc. has a twelve month low of $95.57 and a twelve month high of $190.11. The firm has a market cap of $7.19 billion, a PE ratio of 42.87 and a beta of 0.68. The business has a fifty day simple moving average of $159.73 and a two-hundred day simple moving average of $161.59.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CVLT shares. StockNews.com raised Commvault Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. KeyCorp cut their price objective on shares of Commvault Systems from $195.00 to $185.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Piper Sandler lowered their target price on shares of Commvault Systems from $154.00 to $147.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Finally, Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Commvault Systems currently has an average rating of “Moderate Buy” and an average price target of $158.00.

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.