Victory Capital Management Inc. Trims Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Victory Capital Management Inc. trimmed its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 63.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,012 shares of the software maker’s stock after selling 75,863 shares during the period. Victory Capital Management Inc.’s holdings in Commvault Systems were worth $6,642,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVLT. Nisa Investment Advisors LLC lifted its holdings 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 worth $296,000 after acquiring an additional 66 shares during the period. CIBC Asset Management Inc lifted its holdings 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 worth $213,000 after acquiring an additional 75 shares during the period. GAMMA Investing LLC lifted its holdings 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 worth $152,000 after acquiring an additional 121 shares during the period. New York State Common Retirement Fund lifted its holdings 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 worth $2,069,000 after acquiring an additional 141 shares during the period. Finally, OLD National Bancorp IN lifted its holdings in shares of Commvault Systems by 7.1% during the 4th quarter. OLD National Bancorp IN now owns 2,187 shares of the software maker’s stock worth $330,000 after acquiring an additional 145 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Commvault Systems Trading Up 7.3 %

Shares of NASDAQ CVLT opened at $159.17 on Friday. Commvault Systems, Inc. has a one year low of $93.48 and a one year high of $190.11. The firm has a market capitalization of $7.00 billion, a PE ratio of 41.78 and a beta of 0.62. The business has a 50-day moving average price of $165.22 and a two-hundred day moving average price of $160.41.

Analyst Ratings Changes

CVLT has been the subject of a number of research analyst reports. Cantor Fitzgerald increased their target price on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. KeyCorp increased their target price on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. StockNews.com raised shares of Commvault Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Finally, William Blair raised shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $156.44.

Insider Activity

In related news, insider Gary Merrill sold 3,287 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 87,316 shares in the company, valued at approximately $16,322,853.04. The trade was a 3.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems stock in a transaction that occurred on 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 directly owns 427,231 shares in the company, valued at approximately $79,447,876.76. This represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Commvault Systems Company 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.