Cibc World Markets Corp Makes New $616,000 Investment in Commvault Systems, Inc. (NASDAQ:CVLT)

Cibc World Markets Corp purchased a new position in Commvault Systems, Inc. (NASDAQ:CVLT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,084 shares of the software maker’s stock, valued at approximately $616,000.

Several other institutional investors and hedge funds have also bought and sold shares of CVLT. TFC Financial Management Inc. grew its holdings in Commvault Systems by 294.1% in the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock worth $61,000 after purchasing an additional 300 shares during the last quarter. Point72 DIFC Ltd purchased a new position in Commvault Systems in the third quarter worth $71,000. TD Private Client Wealth LLC purchased a new position in Commvault Systems in the third quarter worth $105,000. Blue Trust Inc. grew its holdings in Commvault Systems by 37,400.0% in the fourth quarter. Blue Trust Inc. now owns 750 shares of the software maker’s stock worth $113,000 after purchasing an additional 748 shares during the last quarter. Finally, Centaurus Financial Inc. purchased a new position in Commvault Systems in the third quarter worth $126,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $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 accessible through this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the completion of the transaction, the chief executive officer now owns 427,231 shares of the company’s stock, valued at approximately $79,447,876.76. This trade represents a 2.80 % 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 Performance

NASDAQ:CVLT opened at $161.52 on Friday. Commvault Systems, Inc. has a one year low of $93.48 and a one year high of $190.11. The firm has a market cap of $7.11 billion, a price-to-earnings ratio of 42.39 and a beta of 0.62. The firm’s fifty day moving average is $165.77 and its two-hundred day moving average is $160.81.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. KeyCorp boosted their price objective on shares of Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Cantor Fitzgerald boosted their price objective on shares of Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. William Blair raised shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Finally, StockNews.com raised shares of Commvault Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.