Illinois Municipal Retirement Fund Invests $733,000 in Commvault Systems, Inc. (NASDAQ:CVLT)

Illinois Municipal Retirement Fund acquired a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,857 shares of the software maker’s stock, valued at approximately $733,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in Commvault Systems by 604.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker’s stock worth $98,479,000 after buying an additional 555,656 shares during the last quarter. Summit Partners Public Asset Management LLC acquired a new position in Commvault Systems during the 3rd quarter worth approximately $67,722,000. Charles Schwab Investment Management Inc. raised its position in Commvault Systems by 25.9% in the third 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 in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Commvault Systems during the 3rd quarter worth $15,264,000. Finally, FMR LLC grew its stake in shares of Commvault Systems by 26.1% during the 3rd quarter. FMR LLC now owns 466,315 shares of the software maker’s stock worth $71,743,000 after purchasing an additional 96,525 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Sanjay Mirchandani sold 12,318 shares of the firm’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 sale, the chief executive officer now owns 427,231 shares in the company, valued at approximately $79,447,876.76. This trade represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 of the company’s stock, valued at $16,322,853.04. The trade was a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CVLT. StockNews.com upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Oppenheimer initiated coverage on Commvault Systems in a research note on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price target on the stock. William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Guggenheim reaffirmed a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. Finally, Cantor Fitzgerald upped their target price on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $156.44.

Commvault Systems Stock Performance

Commvault Systems stock opened at $164.21 on Tuesday. Commvault Systems, Inc. has a fifty-two week low of $93.48 and a fifty-two week high of $190.11. The stock has a fifty day moving average of $164.90 and a two-hundred day moving average of $160.19. The company has a market capitalization of $7.22 billion, a price-to-earnings ratio of 43.10 and a beta of 0.65.

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.