Quantbot Technologies LP Acquires New Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Quantbot Technologies LP bought a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,237 shares of the software maker’s stock, valued at approximately $1,545,000.

Several other large investors have also added to or reduced their stakes in CVLT. Lingohr Asset Management GmbH bought a new stake in shares of Commvault Systems during the 4th quarter valued at $447,000. Magnetar Financial LLC raised its holdings in Commvault Systems by 40.7% during the fourth quarter. Magnetar Financial LLC now owns 3,123 shares of the software maker’s stock valued at $471,000 after acquiring an additional 903 shares during the period. Teacher Retirement System of Texas lifted its position in shares of Commvault Systems by 31.3% in the fourth quarter. Teacher Retirement System of Texas now owns 33,081 shares of the software maker’s stock valued at $4,992,000 after acquiring an additional 7,878 shares in the last quarter. Xponance Inc. boosted its stake in shares of Commvault Systems by 6.7% in the fourth quarter. Xponance Inc. now owns 6,469 shares of the software maker’s stock worth $976,000 after acquiring an additional 405 shares during the period. Finally, Intech Investment Management LLC grew its position in shares of Commvault Systems by 105.2% during the fourth quarter. Intech Investment Management LLC now owns 49,411 shares of the software maker’s stock worth $7,457,000 after purchasing an additional 25,337 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

CVLT has been the topic of a number of research analyst reports. William Blair raised Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. Cantor Fitzgerald raised their target price on shares of Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. StockNews.com upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Finally, KeyCorp increased 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. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $156.44.

Commvault Systems Trading Up 4.7 %

Shares of 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’s 50-day moving average price is $166.03 and its 200-day moving average price is $161.04. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of 44.40 and a beta of 0.62.

Insiders Place Their Bets

In related news, CEO Sanjay Mirchandani sold 12,318 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 427,231 shares in the company, valued at approximately $79,447,876.76. This represents a 2.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gary Merrill sold 3,287 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 87,316 shares of the company’s stock, 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 insiders.

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.