Los Angeles Capital Management LLC Makes New $1.11 Million Investment in Commvault Systems, Inc. (NASDAQ:CVLT)

Los Angeles Capital Management LLC purchased a new position in Commvault Systems, Inc. (NASDAQ:CVLT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,900 shares of the software maker’s stock, valued at approximately $1,110,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Inspire Investing LLC lifted its position in Commvault Systems by 5.4% during the third quarter. Inspire Investing LLC now owns 4,548 shares of the software maker’s stock valued at $307,000 after buying an additional 231 shares during the period. Strs Ohio lifted its position in Commvault Systems by 1.8% during the 3rd quarter. Strs Ohio now owns 16,600 shares of the software maker’s stock valued at $1,122,000 after acquiring an additional 300 shares during the period. PNC Financial Services Group Inc. boosted its stake in Commvault Systems by 28.5% during the third quarter. PNC Financial Services Group Inc. now owns 1,429 shares of the software maker’s stock worth $97,000 after acquiring an additional 317 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Commvault Systems by 2.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,839 shares of the software maker’s stock worth $1,584,000 after purchasing an additional 455 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Commvault Systems by 3.8% during the third quarter. State Board of Administration of Florida Retirement System now owns 13,166 shares of the software maker’s stock valued at $890,000 after purchasing an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Commvault Systems Stock Up 0.2 %

NASDAQ CVLT opened at $109.18 on Thursday. The firm has a market capitalization of $4.77 billion, a P/E ratio of 29.04 and a beta of 0.64. The company has a 50-day moving average price of $99.30 and a 200-day moving average price of $85.99. Commvault Systems, Inc. has a 52 week low of $61.36 and a 52 week high of $110.43.

Insider Buying and Selling at Commvault Systems

In other news, Director Allison Pickens sold 990 shares of Commvault Systems stock in a transaction on Monday, February 26th. The shares were sold at an average price of $94.73, for a total transaction of $93,782.70. Following the transaction, the director now owns 7,206 shares in the company, valued at approximately $682,624.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Allison Pickens sold 990 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $94.73, for a total value of $93,782.70. Following the transaction, the director now directly owns 7,206 shares of the company’s stock, valued at approximately $682,624.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sanjay Mirchandani sold 21,494 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $97.82, for a total value of $2,102,543.08. Following the sale, the chief executive officer now directly owns 399,356 shares of the company’s stock, valued at approximately $39,065,003.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,306 shares of company stock valued at $2,276,265. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Royal Bank of Canada boosted their price target on Commvault Systems from $97.00 to $112.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 1st. Lake Street Capital increased their target price on Commvault Systems from $86.00 to $98.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. KeyCorp lifted their price target on Commvault Systems from $109.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, DA Davidson increased their price objective on shares of Commvault Systems from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $114.25.

About Commvault Systems

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.