Allianz Asset Management GmbH Buys 28,016 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Allianz Asset Management GmbH lifted its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 8.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 357,121 shares of the software maker’s stock after purchasing an additional 28,016 shares during the quarter. Allianz Asset Management GmbH’s holdings in Commvault Systems were worth $53,893,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Commvault Systems by 25.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after acquiring an additional 120,779 shares during the period. Summit Partners Public Asset Management LLC bought a new position in shares of Commvault Systems during the 3rd quarter worth approximately $67,722,000. Point72 Hong Kong Ltd boosted its stake in shares of Commvault Systems by 37.9% during the 3rd quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker’s stock worth $3,603,000 after acquiring an additional 6,433 shares during the period. Raymond James & Associates boosted its stake in shares of Commvault Systems by 58.1% during the 3rd quarter. Raymond James & Associates now owns 15,410 shares of the software maker’s stock worth $2,371,000 after acquiring an additional 5,661 shares during the period. Finally, Intech Investment Management LLC boosted its stake in shares of Commvault Systems by 31.8% during the 3rd quarter. Intech Investment Management LLC now owns 24,074 shares of the software maker’s stock worth $3,704,000 after acquiring an additional 5,805 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Commvault Systems

In other news, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction on Friday, November 29th. The stock was sold at an average price of $172.50, for a total value of $212,520.00. Following the transaction, the director now owns 5,899 shares in the company, valued at approximately $1,017,577.50. This trade represents a 17.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total value of $2,290,655.28. Following the completion of the transaction, the chief executive officer now owns 427,231 shares in the company, valued at approximately $79,447,876.76. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,837 shares of company stock valued at $3,117,647 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Commvault Systems Price Performance

Shares of NASDAQ CVLT opened at $170.61 on Friday. The stock has a market capitalization of $7.51 billion, a PE ratio of 44.78 and a beta of 0.65. The business has a fifty day moving average price of $164.01 and a two-hundred day moving average price of $159.26. Commvault Systems, Inc. has a fifty-two week low of $92.36 and a fifty-two week high of $190.11.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CVLT. Royal Bank of Canada lifted their target price on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. StockNews.com cut Commvault Systems from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Oppenheimer assumed coverage on Commvault Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price target for the company. William Blair raised Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Finally, Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.