Commonwealth Equity Services LLC Raises Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Commonwealth Equity Services LLC boosted its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 8.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,040 shares of the software maker’s stock after buying an additional 244 shares during the period. Commonwealth Equity Services LLC’s holdings in Commvault Systems were worth $459,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cerity Partners LLC bought a new position in shares of Commvault Systems during the third quarter valued at about $506,000. FMR LLC increased its holdings in Commvault Systems by 26.1% during the 3rd quarter. FMR LLC now owns 466,315 shares of the software maker’s stock valued at $71,743,000 after purchasing an additional 96,525 shares during the period. Verition Fund Management LLC raised its position in Commvault Systems by 301.5% during the 3rd quarter. Verition Fund Management LLC now owns 6,725 shares of the software maker’s stock valued at $1,035,000 after purchasing an additional 5,050 shares during the last quarter. Paloma Partners Management Co purchased a new stake in Commvault Systems in the 3rd quarter worth approximately $238,000. Finally, Benjamin Edwards Inc. bought a new stake in shares of Commvault Systems in the 3rd quarter worth approximately $268,000. Institutional investors own 93.50% of the company’s stock.

Commvault Systems Stock Down 8.9 %

Shares of CVLT opened at $139.35 on Friday. The stock has a market cap of $6.13 billion, a P/E ratio of 36.57 and a beta of 0.68. The business’s 50 day moving average price is $165.87 and its 200-day moving average price is $161.88. Commvault Systems, Inc. has a 52 week low of $93.48 and a 52 week high of $190.11.

Insider Buying and Selling at Commvault Systems

In other news, insider Gary Merrill sold 3,287 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $614,471.78. Following the sale, the insider now owns 87,316 shares in the company, valued at $16,322,853.04. This represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 directly owns 427,231 shares of the company’s stock, valued at $79,447,876.76. This trade represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. KeyCorp upped their target price on Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Cantor Fitzgerald boosted their price target on shares of Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, January 29th. StockNews.com raised Commvault Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Finally, William Blair raised Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Commvault Systems presently has an average rating of “Moderate Buy” 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.