Advisors Preferred LLC Purchases New Shares in Commvault Systems, Inc. (NASDAQ:CVLT)

Advisors Preferred LLC acquired a new stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,255 shares of the software maker’s stock, valued at approximately $799,000.

A number of other large investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Commvault Systems by 8.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,208 shares of the software maker’s stock worth $1,239,000 after buying an additional 620 shares during the period. Strategic Financial Concepts LLC purchased a new stake in shares of Commvault Systems during the fourth quarter valued at $6,901,000. Alliance Wealth Advisors LLC UT grew its holdings in shares of Commvault Systems by 8.4% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 4,551 shares of the software maker’s stock worth $687,000 after purchasing an additional 352 shares during the last quarter. Jennison Associates LLC increased its stake in Commvault Systems by 12.7% in the 4th quarter. Jennison Associates LLC now owns 8,745 shares of the software maker’s stock worth $1,320,000 after buying an additional 984 shares during the period. Finally, OLD National Bancorp IN lifted its holdings in Commvault Systems by 7.1% during the 4th quarter. OLD National Bancorp IN now owns 2,187 shares of the software maker’s stock valued at $330,000 after buying an additional 145 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CVLT. Oppenheimer initiated coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 target price on the stock. Guggenheim reaffirmed a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. William Blair raised Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Cantor Fitzgerald lifted their price objective on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, KeyCorp raised their target price 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. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $156.44.

Insiders Place Their Bets

In other Commvault Systems news, CEO Sanjay Mirchandani sold 10,775 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the sale, the chief executive officer now owns 459,969 shares in the company, valued at approximately $76,032,875.70. The trade was a 2.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $172.50, for a total transaction of $212,520.00. Following the transaction, the director now directly owns 5,899 shares of the company’s stock, valued at $1,017,577.50. This represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,530 shares of company stock valued at $2,244,755. 1.00% of the stock is currently owned by corporate insiders.

Commvault Systems Trading Up 1.9 %

NASDAQ CVLT opened at $175.82 on Friday. The firm’s fifty day simple moving average is $162.02 and its two-hundred day simple moving average is $155.46. Commvault Systems, Inc. has a 12-month low of $90.32 and a 12-month high of $180.51. The firm has a market capitalization of $7.74 billion, a P/E ratio of 46.15 and a beta of 0.65.

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.