Great Lakes Advisors LLC Sells 16,557 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Great Lakes Advisors LLC reduced its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 34.6% in the fourth quarter, HoldingsChannel reports. The firm owned 31,240 shares of the software maker’s stock after selling 16,557 shares during the period. Great Lakes Advisors LLC’s holdings in Commvault Systems were worth $4,714,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew 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 worth $296,000 after buying an additional 66 shares during the period. CIBC Asset Management Inc grew its position in Commvault Systems by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker’s stock valued at $213,000 after purchasing an additional 75 shares during the period. PNC Financial Services Group Inc. increased its stake in 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 purchasing an additional 93 shares in the last quarter. GAMMA Investing LLC raised its holdings in Commvault Systems by 13.7% during the fourth quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker’s stock worth $152,000 after buying an additional 121 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of Commvault Systems by 1.0% in the fourth 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. 93.50% of the stock is currently owned by institutional investors.

Commvault Systems Trading Down 3.3 %

CVLT stock opened at $148.31 on Friday. Commvault Systems, Inc. has a 1-year low of $93.48 and a 1-year high of $190.11. The stock has a market cap of $6.53 billion, a P/E ratio of 38.93 and a beta of 0.62. The stock’s fifty day simple moving average is $165.21 and its two-hundred day simple moving average is $160.36.

Insider Activity at Commvault Systems

In related news, CEO Sanjay Mirchandani sold 12,318 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Gary Merrill sold 3,287 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 87,316 shares of the company’s stock, valued at approximately $16,322,853.04. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

About Commvault Systems

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.