Commvault Systems, Inc. (NASDAQ:CVLT) Shares Sold by Putnam Investments LLC

Putnam Investments LLC cut its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT – Get Rating) by 1.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,897 shares of the software maker’s stock after selling 614 shares during the quarter. Putnam Investments LLC owned 0.08% of Commvault Systems worth $1,798,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. AlphaCrest Capital Management LLC raised its holdings in shares of Commvault Systems by 11.8% in the 3rd quarter. AlphaCrest Capital Management LLC now owns 39,414 shares of the software maker’s stock valued at $2,091,000 after purchasing an additional 4,165 shares in the last quarter. Guggenheim Capital LLC raised its holdings in shares of Commvault Systems by 7.8% in the 3rd quarter. Guggenheim Capital LLC now owns 7,104 shares of the software maker’s stock valued at $377,000 after purchasing an additional 512 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Commvault Systems in the 3rd quarter valued at $631,000. Bessemer Group Inc. raised its stake in Commvault Systems by 12.4% during the 3rd quarter. Bessemer Group Inc. now owns 12,562 shares of the software maker’s stock worth $667,000 after acquiring an additional 1,385 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in Commvault Systems during the 3rd quarter worth $2,248,000. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Commvault Systems Stock Down 2.3 %

Shares of NASDAQ CVLT opened at $55.48 on Monday. Commvault Systems, Inc. has a 52 week low of $50.26 and a 52 week high of $69.16. The firm has a 50-day moving average price of $60.87 and a 200 day moving average price of $59.88. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 163.18, a price-to-earnings-growth ratio of 6.91 and a beta of 0.57.

Analyst Ratings Changes

CVLT has been the topic of several research reports. Guggenheim began coverage on shares of Commvault Systems in a research report on Thursday, January 26th. They set a “buy” rating and a $86.00 price objective on the stock. Piper Sandler lowered their target price on shares of Commvault Systems from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday, January 11th. Finally, StockNews.com raised shares of Commvault Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 1st. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.20.

Insider Activity at Commvault Systems

In related news, Director Allison Pickens sold 500 shares of the firm’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $63.80, for a total value of $31,900.00. Following the completion of the sale, the director now owns 8,029 shares in the company, valued at $512,250.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Commvault Systems news, CRO Blasio Riccardo Di sold 8,912 shares of Commvault Systems stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $59.14, for a total transaction of $527,055.68. Following the completion of the transaction, the executive now owns 77,427 shares in the company, valued at $4,579,032.78. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Allison Pickens sold 500 shares of Commvault Systems stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $63.80, for a total transaction of $31,900.00. Following the transaction, the director now owns 8,029 shares of the company’s stock, valued at approximately $512,250.20. The disclosure for this sale can be found here. Insiders sold 58,873 shares of company stock worth $3,448,152 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Commvault Systems Company Profile

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Commvault Systems, Inc engages in the provision of data protection and information management software applications and related services. Its products include Data Protection and insights, Storage, and Metallic BaaS. The firm also offers professional, managed, support, and training services. The company was founded in 1996 and is headquartered in Tinton Falls, NJ.