Counterpoint Mutual Funds LLC Cuts Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Counterpoint Mutual Funds LLC lowered its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 69.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,472 shares of the software maker’s stock after selling 5,690 shares during the period. Counterpoint Mutual Funds LLC’s holdings in Commvault Systems were worth $373,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Cibc World Markets Corp purchased a new position in shares of Commvault Systems in the 4th quarter worth approximately $616,000. Gallacher Capital Management LLC grew its position in Commvault Systems by 11.4% during the 4th quarter. Gallacher Capital Management LLC now owns 1,541 shares of the software maker’s stock worth $233,000 after purchasing an additional 158 shares during the last quarter. Corient Private Wealth LLC grew its position in Commvault Systems by 8.3% during the 4th quarter. Corient Private Wealth LLC now owns 2,909 shares of the software maker’s stock worth $439,000 after purchasing an additional 224 shares during the last quarter. Globeflex Capital L P grew its position in Commvault Systems by 7.4% during the 4th quarter. Globeflex Capital L P now owns 12,972 shares of the software maker’s stock worth $1,958,000 after purchasing an additional 891 shares during the last quarter. Finally, Natixis Advisors LLC grew its position in Commvault Systems by 2.2% during the 4th quarter. Natixis Advisors LLC now owns 10,826 shares of the software maker’s stock worth $1,634,000 after purchasing an additional 238 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Commvault Systems Price Performance

CVLT opened at $160.56 on Tuesday. The firm has a fifty day moving average price of $165.22 and a 200 day moving average price of $160.60. 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 $7.06 billion, a P/E ratio of 42.14 and a beta of 0.62.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CVLT. Guggenheim reissued a “neutral” rating on shares of Commvault Systems 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. KeyCorp upped their price objective on shares of Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. William Blair raised shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Finally, Cantor Fitzgerald upped their price objective on shares of Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $156.44.

Insider Activity at Commvault Systems

In other Commvault Systems news, CEO Sanjay Mirchandani sold 12,318 shares of the company’s stock in a transaction 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gary Merrill sold 3,287 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total transaction of $614,471.78. Following the transaction, the insider now owns 87,316 shares of the company’s stock, valued at $16,322,853.04. This represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

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.