Allspring Global Investments Holdings LLC Has $98.48 Million Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Allspring Global Investments Holdings LLC boosted its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 604.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 647,525 shares of the software maker’s stock after buying an additional 555,656 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Commvault Systems were worth $98,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of CVLT. Capital Performance Advisors LLP bought a new position in shares of Commvault Systems during the 3rd quarter worth about $33,000. Point72 DIFC Ltd acquired a new stake in Commvault Systems during the third quarter worth about $71,000. Signaturefd LLC increased its stake in Commvault Systems by 43.9% during the third quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock valued at $91,000 after acquiring an additional 180 shares during the period. TD Private Client Wealth LLC acquired a new position in Commvault Systems in the 3rd quarter valued at approximately $105,000. Finally, Blue Trust Inc. raised its holdings in Commvault Systems by 38,400.0% in the 4th quarter. Blue Trust Inc. now owns 770 shares of the software maker’s stock valued at $118,000 after acquiring an additional 768 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Insider Activity at Commvault Systems

In other news, insider Gary Merrill sold 1,523 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $164.89, for a total transaction of $251,127.47. Following the transaction, the insider now directly owns 93,007 shares in the company, valued at approximately $15,335,924.23. This represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjay Mirchandani sold 10,775 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the sale, the chief executive officer now directly owns 459,969 shares in the company, valued at $76,032,875.70. This trade represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,530 shares of company stock valued at $2,244,755 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Commvault Systems Trading Up 0.0 %

NASDAQ:CVLT opened at $178.55 on Thursday. The stock has a market capitalization of $7.86 billion, a P/E ratio of 46.86 and a beta of 0.65. Commvault Systems, Inc. has a 1 year low of $90.32 and a 1 year high of $181.51. The firm has a 50 day moving average of $162.44 and a 200-day moving average of $157.05.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Cantor Fitzgerald raised their target price on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. StockNews.com downgraded shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Royal Bank of Canada upped their target price on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Oppenheimer started coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price target for the company. Finally, William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $156.44.

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.