Meeder Asset Management Inc. Buys New Shares in Commvault Systems, Inc. (NASDAQ:CVLT)

Meeder Asset Management Inc. bought a new stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 843 shares of the software maker’s stock, valued at approximately $127,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CVLT. Arrowstreet Capital Limited Partnership lifted its stake in Commvault Systems by 0.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 632,870 shares of the software maker’s stock worth $95,506,000 after acquiring an additional 4,957 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Commvault Systems by 13.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,091 shares of the software maker’s stock valued at $919,000 after purchasing an additional 721 shares during the period. New Age Alpha Advisors LLC purchased a new stake in shares of Commvault Systems in the fourth quarter worth approximately $1,387,000. Norges Bank acquired a new stake in shares of Commvault Systems during the fourth quarter worth approximately $79,619,000. Finally, Parametrica Management Ltd purchased a new position in Commvault Systems during the fourth quarter valued at approximately $210,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity at Commvault Systems

In other Commvault Systems news, CEO Sanjay Mirchandani sold 12,318 shares of the business’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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gary Merrill sold 3,287 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were 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 in the company, 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. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CVLT shares. Guggenheim reaffirmed a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, January 29th. Cantor Fitzgerald upped their price target 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. KeyCorp raised their price objective 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. StockNews.com upgraded Commvault Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Finally, William Blair raised shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $156.44.

Commvault Systems Stock Up 3.3 %

Commvault Systems stock opened at $162.94 on Wednesday. Commvault Systems, Inc. has a 12-month low of $93.48 and a 12-month high of $190.11. The stock has a 50-day simple moving average of $166.37 and a 200 day simple moving average of $161.89. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of 42.77 and a beta of 0.62.

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.