Commvault Systems, Inc. (NASDAQ:CVLT) Stock Position Reduced by Convergence Investment Partners LLC

Convergence Investment Partners LLC lessened its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 33.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,989 shares of the software maker’s stock after selling 6,048 shares during the quarter. Convergence Investment Partners LLC’s holdings in Commvault Systems were worth $1,809,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. New York State Common Retirement Fund lifted its holdings in shares of Commvault Systems by 1.0% in the 4th quarter. New York State Common Retirement Fund now owns 13,713 shares of the software maker’s stock worth $2,069,000 after purchasing an additional 141 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Commvault Systems by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker’s stock worth $213,000 after purchasing an additional 75 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Commvault Systems by 9.0% in the 4th quarter. Sanctuary Advisors LLC now owns 2,777 shares of the software maker’s stock worth $439,000 after purchasing an additional 230 shares during the last quarter. Principal Financial Group Inc. increased its position in Commvault Systems by 1.1% in the 4th quarter. Principal Financial Group Inc. now owns 120,374 shares of the software maker’s stock valued at $18,166,000 after acquiring an additional 1,340 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new stake in Commvault Systems in the 4th quarter valued at approximately $6,901,000. Institutional investors own 93.50% of the company’s stock.

Commvault Systems Stock Performance

Shares of CVLT stock opened at $187.90 on Wednesday. The stock has a market cap of $8.27 billion, a PE ratio of 49.32 and a beta of 0.65. The business’s fifty day moving average is $163.18 and its 200-day moving average is $158.15. Commvault Systems, Inc. has a 1 year low of $90.32 and a 1 year high of $190.11.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Royal Bank of Canada raised 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. StockNews.com cut Commvault Systems from a “buy” rating to a “hold” rating in a research report on Monday. Cantor Fitzgerald raised their target price on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $156.44.

Insider Buying and Selling

In related news, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction on Friday, November 29th. The stock was sold at an average price of $172.50, for a total value of $212,520.00. Following the transaction, the director now directly owns 5,899 shares in the company, valued at $1,017,577.50. The trade was a 17.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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.