Russell Investments Group Ltd. Sells 10,381 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Russell Investments Group Ltd. lessened its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 8.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 115,061 shares of the software maker’s stock after selling 10,381 shares during the quarter. Russell Investments Group Ltd. owned 0.26% of Commvault Systems worth $9,188,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVLT. Inspire Investing LLC raised its position in shares of Commvault Systems by 5.4% during the third quarter. Inspire Investing LLC now owns 4,548 shares of the software maker’s stock worth $307,000 after purchasing an additional 231 shares during the period. Strs Ohio raised its holdings in Commvault Systems by 1.8% during the 3rd quarter. Strs Ohio now owns 16,600 shares of the software maker’s stock worth $1,122,000 after buying an additional 300 shares during the period. PNC Financial Services Group Inc. lifted its stake in Commvault Systems by 28.5% in the third quarter. PNC Financial Services Group Inc. now owns 1,429 shares of the software maker’s stock valued at $97,000 after buying an additional 317 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Commvault Systems by 2.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,839 shares of the software maker’s stock valued at $1,584,000 after buying an additional 455 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Commvault Systems by 3.8% during the third quarter. State Board of Administration of Florida Retirement System now owns 13,166 shares of the software maker’s stock worth $890,000 after acquiring an additional 480 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Commvault Systems Stock Up 1.4 %

NASDAQ:CVLT opened at $108.93 on Tuesday. Commvault Systems, Inc. has a twelve month low of $60.96 and a twelve month high of $109.25. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 28.97 and a beta of 0.64. The stock’s 50 day moving average price is $98.74 and its two-hundred day moving average price is $85.52.

Insider Activity at Commvault Systems

In other Commvault Systems news, CEO Sanjay Mirchandani sold 21,494 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $97.82, for a total transaction of $2,102,543.08. Following the sale, the chief executive officer now directly owns 399,356 shares of the company’s stock, valued at $39,065,003.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Gary Merrill sold 822 shares of Commvault Systems stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $97.25, for a total transaction of $79,939.50. Following the completion of the transaction, the chief financial officer now owns 87,945 shares in the company, valued at $8,552,651.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mirchandani sold 21,494 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $97.82, for a total value of $2,102,543.08. Following the transaction, the chief executive officer now directly owns 399,356 shares in the company, valued at approximately $39,065,003.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,306 shares of company stock valued at $2,276,265. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on CVLT. Lake Street Capital boosted their price objective on shares of Commvault Systems from $86.00 to $98.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. Royal Bank of Canada upped their price objective on Commvault Systems from $97.00 to $112.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 1st. KeyCorp increased their price objective on Commvault Systems from $109.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, DA Davidson boosted their target price on Commvault Systems from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.25.

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.