MetLife Investment Management LLC Boosts Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Posted by Defense World Staff on Feb 26th, 2023

MetLife Investment Management LLC grew its holdings in Commvault Systems, Inc. (NASDAQ:CVLT – Get Rating) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,367 shares of the software maker’s stock after purchasing an additional 366 shares during the quarter. MetLife Investment Management LLC owned 0.12% of Commvault Systems worth $2,725,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Captrust Financial Advisors raised its holdings in Commvault Systems by 64.0% in the second quarter. Captrust Financial Advisors now owns 510 shares of the software maker’s stock valued at $32,000 after acquiring an additional 199 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Commvault Systems in the second quarter valued at approximately $64,000. Lazard Asset Management LLC raised its holdings in Commvault Systems by 63.1% in the first quarter. Lazard Asset Management LLC now owns 1,321 shares of the software maker’s stock valued at $87,000 after acquiring an additional 511 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Commvault Systems by 6,466.7% in the third quarter. Pacer Advisors Inc. now owns 1,970 shares of the software maker’s stock valued at $104,000 after acquiring an additional 1,940 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Commvault Systems in the second quarter valued at approximately $203,000. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Insider Activity

In other news, Director Allison Pickens sold 500 shares of Commvault Systems stock in a transaction on Friday, February 10th. The shares were sold at an average price of $63.80, for a total value of $31,900.00. Following the transaction, the director now directly owns 8,029 shares of the company’s stock, valued at approximately $512,250.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO James J. Whalen sold 526 shares of Commvault Systems stock in a transaction on Monday, November 28th. The shares were sold at an average price of $66.04, for a total value of $34,737.04. Following the transaction, the chief accounting officer now directly owns 17,524 shares in the company, valued at approximately $1,157,284.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Allison Pickens sold 500 shares of Commvault Systems stock in a transaction on Friday, February 10th. The shares were sold at an average price of $63.80, for a total transaction of $31,900.00. Following the completion of the transaction, the director now owns 8,029 shares in the company, valued at $512,250.20. The disclosure for this sale can be found here. Insiders have sold 1,327 shares of company stock valued at $85,708 in the last ninety days. 1.00% of the stock is currently owned by company insiders.

Commvault Systems Price Performance

Shares of Commvault Systems stock opened at $59.75 on Friday. The firm’s fifty day simple moving average is $61.76 and its 200-day simple moving average is $59.88. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 175.74, a PEG ratio of 7.35 and a beta of 0.57. Commvault Systems, Inc. has a 12 month low of $50.26 and a 12 month high of $69.16.

Wall Street Analyst Weigh In

CVLT has been the topic of several analyst reports. William Blair reaffirmed a “market perform” rating on shares of Commvault Systems in a report on Wednesday, November 2nd. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Monday, February 20th. Guggenheim started coverage on shares of Commvault Systems in a report on Thursday, January 26th. They set a “buy” rating and a $86.00 price objective on the stock. Royal Bank of Canada raised their price objective on shares of Commvault Systems from $63.00 to $66.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 2nd. Finally, Piper Sandler cut their price objective 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. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Commvault Systems presently has an average rating of “Moderate Buy” and a consensus target price of $70.20.

Commvault Systems 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.