AlphaQuest LLC Grows Position in Commvault Systems, Inc. (NASDAQ:CVLT)

AlphaQuest LLC grew its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 69.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,023 shares of the software maker’s stock after purchasing an additional 418 shares during the period. AlphaQuest LLC’s holdings in Commvault Systems were worth $154,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its position in shares of Commvault Systems by 3.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker’s stock valued at $296,000 after buying an additional 66 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Commvault Systems by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker’s stock valued at $213,000 after buying an additional 75 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Commvault Systems by 4.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,439 shares of the software maker’s stock valued at $368,000 after buying an additional 93 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Commvault Systems by 13.7% during the 4th quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker’s stock valued at $152,000 after buying an additional 121 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Commvault Systems by 1.0% during the 4th quarter. New York State Common Retirement Fund now owns 13,713 shares of the software maker’s stock valued at $2,069,000 after buying an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Commvault Systems Price Performance

NASDAQ CVLT opened at $160.56 on Tuesday. The company has a market cap of $7.06 billion, a P/E ratio of 42.14 and a beta of 0.62. The stock has a 50-day moving average of $165.22 and a two-hundred day moving average of $160.60. Commvault Systems, Inc. has a 1-year low of $93.48 and a 1-year high of $190.11.

Analyst Ratings Changes

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

Insider Buying and Selling at Commvault Systems

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

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.