EFG Asset Management North America Corp. Buys 12,345 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

EFG Asset Management North America Corp. lifted its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 58.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,422 shares of the software maker’s stock after acquiring an additional 12,345 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Commvault Systems were worth $5,040,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Nisa Investment Advisors LLC grew its holdings in Commvault Systems by 3.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker’s stock valued at $296,000 after buying an additional 66 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Commvault Systems by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker’s stock worth $213,000 after acquiring an additional 75 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Commvault Systems by 4.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,439 shares of the software maker’s stock worth $368,000 after acquiring an additional 93 shares during the period. GAMMA Investing LLC raised its stake in Commvault Systems by 13.7% during the 4th quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker’s stock valued at $152,000 after purchasing an additional 121 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in Commvault Systems by 1.0% in the 4th quarter. New York State Common Retirement Fund now owns 13,713 shares of the software maker’s stock valued at $2,069,000 after purchasing an additional 141 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total transaction of $614,471.78. Following the transaction, the insider now owns 87,316 shares in the company, valued at approximately $16,322,853.04. This trade represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $2,290,655.28. Following the transaction, the chief executive officer now owns 427,231 shares of the company’s stock, valued at $79,447,876.76. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Commvault Systems Stock Performance

CVLT opened at $169.17 on Tuesday. Commvault Systems, Inc. has a twelve month low of $93.48 and a twelve month high of $190.11. The firm’s 50-day simple moving average is $166.03 and its 200-day simple moving average is $161.04. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of 44.40 and a beta of 0.62.

Commvault Systems 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.