Commvault Systems, Inc. (NASDAQ:CVLT) Shares Sold by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC trimmed its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 69.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,472 shares of the software maker’s stock after selling 5,690 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in Commvault Systems were worth $373,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State Street Corp grew its position in shares of Commvault Systems by 1.6% during the third quarter. State Street Corp now owns 1,594,045 shares of the software maker’s stock worth $245,244,000 after acquiring an additional 25,082 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Commvault Systems by 604.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker’s stock worth $98,479,000 after acquiring an additional 555,656 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Commvault Systems by 25.9% during 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 during the last quarter. Congress Asset Management Co. grew its position in shares of Commvault Systems by 5.7% during the fourth quarter. Congress Asset Management Co. now owns 520,378 shares of the software maker’s stock worth $78,530,000 after acquiring an additional 28,216 shares during the last quarter. Finally, FMR LLC grew its position in shares of Commvault Systems by 26.1% during the third quarter. FMR LLC now owns 466,315 shares of the software maker’s stock worth $71,743,000 after acquiring an additional 96,525 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CVLT. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. StockNews.com upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. KeyCorp lifted their price objective on shares of Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Cantor Fitzgerald lifted their price objective 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. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $156.44.

Commvault Systems Stock Performance

Shares of NASDAQ CVLT opened at $160.56 on Tuesday. The firm has a market capitalization of $7.06 billion, a P/E ratio of 42.14 and a beta of 0.62. Commvault Systems, Inc. has a one year low of $93.48 and a one year high of $190.11. The company’s fifty day moving average is $165.22 and its two-hundred day moving average is $160.60.

Insiders Place Their Bets

In other news, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the completion of the transaction, the chief executive officer now owns 427,231 shares of the company’s stock, valued at $79,447,876.76. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value of $614,471.78. Following the transaction, the insider now directly owns 87,316 shares of the company’s stock, valued at $16,322,853.04. This trade represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

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.