Congress Asset Management Co. Has $78.53 Million Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Congress Asset Management Co. increased its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 5.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 520,378 shares of the software maker’s stock after buying an additional 28,216 shares during the period. Congress Asset Management Co.’s holdings in Commvault Systems were worth $78,530,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVLT. Charles Schwab Investment Management Inc. increased its holdings 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 purchasing an additional 120,779 shares in the last quarter. Summit Partners Public Asset Management LLC bought a new stake in Commvault Systems in the third quarter worth approximately $67,722,000. Vontobel Holding Ltd. bought a new stake in Commvault Systems in the third quarter worth approximately $1,126,000. Point72 Hong Kong Ltd increased its holdings in Commvault Systems by 37.9% in the third quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker’s stock worth $3,603,000 after purchasing an additional 6,433 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in Commvault Systems by 58.1% in the third quarter. Raymond James & Associates now owns 15,410 shares of the software maker’s stock worth $2,371,000 after purchasing an additional 5,661 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Commvault Systems news, insider Gary Merrill sold 1,523 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $164.89, for a total value of $251,127.47. Following the transaction, the insider now owns 93,007 shares of the company’s stock, valued at approximately $15,335,924.23. The trade was a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjay Mirchandani sold 10,775 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $165.30, for a total value of $1,781,107.50. Following the completion of the transaction, the chief executive officer now directly owns 459,969 shares in the company, valued at approximately $76,032,875.70. This represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,530 shares of company stock valued at $2,244,755. Insiders own 1.00% of the company’s stock.

Commvault Systems Trading Up 0.7 %

CVLT stock opened at $184.91 on Friday. The stock’s fifty day simple moving average is $162.92 and its two-hundred day simple moving average is $157.85. Commvault Systems, Inc. has a 1-year low of $90.32 and a 1-year high of $186.52. The stock has a market cap of $8.14 billion, a P/E ratio of 48.53 and a beta of 0.65.

Wall Street Analysts Forecast Growth

CVLT has been the subject of a number of research analyst reports. Oppenheimer initiated coverage on Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 target price for the company. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. KeyCorp lifted their target price on Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Finally, Royal Bank of Canada lifted their target price on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Commvault Systems presently has a consensus rating of “Moderate Buy” and an average price target of $156.44.

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.