CANADA LIFE ASSURANCE Co Has $13.32 Million Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

CANADA LIFE ASSURANCE Co grew its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,359 shares of the software maker’s stock after buying an additional 2,140 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.20% of Commvault Systems worth $13,315,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Nisa Investment Advisors LLC lifted its stake 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 purchasing an additional 66 shares during the last quarter. CIBC Asset Management Inc raised its stake in Commvault Systems by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker’s stock worth $213,000 after purchasing an additional 75 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of 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 purchasing an additional 93 shares during the period. Mariner LLC raised its position in shares of Commvault Systems by 3.7% in the fourth quarter. Mariner LLC now owns 3,310 shares of the software maker’s stock valued at $500,000 after buying an additional 118 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Commvault Systems by 13.7% in the fourth quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker’s stock valued at $152,000 after buying an additional 121 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CVLT. Cantor Fitzgerald lifted their price objective on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Piper Sandler cut their price objective on shares of Commvault Systems from $154.00 to $147.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. StockNews.com upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. William Blair upgraded shares of 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 report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.00.

Insider Buying and Selling

In other news, insider Gary Merrill sold 3,287 shares of the stock in a transaction on 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 sale, the insider now directly owns 87,316 shares in the company, valued at $16,322,853.04. This represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of the company’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 sale, the chief executive officer now directly owns 427,231 shares in the company, valued at $79,447,876.76. This trade represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Commvault Systems Trading Down 0.9 %

NASDAQ:CVLT opened at $149.74 on Monday. The stock’s 50-day moving average is $162.17 and its 200-day moving average is $161.73. The stock has a market cap of $6.59 billion, a P/E ratio of 39.30 and a beta of 0.68. Commvault Systems, Inc. has a 1-year low of $94.28 and a 1-year high of $190.11.

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.