AXQ Capital LP Acquires Shares of 1,418 Commvault Systems, Inc. (NASDAQ:CVLT)

AXQ Capital LP acquired a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,418 shares of the software maker’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Caprock Group LLC purchased a new stake in shares of Commvault Systems in the third quarter valued at about $249,000. Charles Schwab Investment Management Inc. grew its stake in shares of Commvault Systems by 25.9% in 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 buying an additional 120,779 shares during the period. Citigroup Inc. increased its holdings in shares of Commvault Systems by 146.0% during the 3rd quarter. Citigroup Inc. now owns 47,867 shares of the software maker’s stock worth $7,364,000 after buying an additional 28,408 shares during the last quarter. Cerity Partners LLC purchased a new stake in shares of Commvault Systems during the 3rd quarter valued at approximately $506,000. Finally, Centaurus Financial Inc. acquired a new position in Commvault Systems in the third quarter valued at approximately $126,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Commvault Systems Trading Up 4.7 %

NASDAQ:CVLT opened at $169.17 on Tuesday. Commvault Systems, Inc. has a 12-month low of $93.48 and a 12-month high of $190.11. The firm has a market cap of $7.44 billion, a PE ratio of 44.40 and a beta of 0.62. The stock has a fifty day moving average price of $166.03 and a 200 day moving average price of $161.04.

Analysts Set New Price Targets

A number of research firms have commented on CVLT. StockNews.com upgraded Commvault Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. KeyCorp increased their target price on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. William Blair raised shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. Cantor Fitzgerald increased their price objective on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Commvault Systems presently has an average rating of “Moderate Buy” and an average price target of $156.44.

Insider Transactions at Commvault Systems

In related news, CEO Sanjay Mirchandani sold 12,318 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 427,231 shares in the company, valued at approximately $79,447,876.76. The trade was a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gary Merrill sold 3,287 shares of the firm’s stock in a transaction 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 sale, 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 disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

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.