Kesler Norman & Wride LLC Acquires 1,163 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Kesler Norman & Wride LLC boosted its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 29.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,143 shares of the software maker’s stock after purchasing an additional 1,163 shares during the period. Kesler Norman & Wride LLC’s holdings in Commvault Systems were worth $776,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research analysts have recently commented on CVLT shares. StockNews.com raised Commvault Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. KeyCorp increased their target price on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. Cantor Fitzgerald upped their price target 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 restated a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Commvault Systems has a consensus rating of “Moderate Buy” and an average target price of $156.44.

Insider Buying and Selling at Commvault Systems

In related news, insider Gary Merrill sold 3,287 shares of the 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 427,231 shares of the company’s stock, valued at approximately $79,447,876.76. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Commvault Systems Price Performance

CVLT opened at $166.39 on Thursday. Commvault Systems, Inc. has a fifty-two week low of $93.48 and a fifty-two week high of $190.11. The company has a market cap of $7.32 billion, a price-to-earnings ratio of 43.67 and a beta of 0.62. The firm has a 50 day simple moving average of $166.45 and a 200 day simple moving average of $161.93.

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.