Gallacher Capital Management LLC Increases Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Gallacher Capital Management LLC increased its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 11.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,541 shares of the software maker’s stock after purchasing an additional 158 shares during the period. Gallacher Capital Management LLC’s holdings in Commvault Systems were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. TFC Financial Management Inc. boosted its position in Commvault Systems by 294.1% during the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock worth $61,000 after purchasing an additional 300 shares during the period. Point72 DIFC Ltd purchased a new stake in Commvault Systems during the 3rd quarter worth $71,000. TD Private Client Wealth LLC purchased a new position in Commvault Systems in the 3rd quarter valued at about $105,000. Blue Trust Inc. grew its stake in shares of Commvault Systems by 37,400.0% during the fourth quarter. Blue Trust Inc. now owns 750 shares of the software maker’s stock valued at $113,000 after acquiring an additional 748 shares in the last quarter. Finally, Centaurus Financial Inc. acquired a new stake in shares of Commvault Systems during the third quarter valued at about $126,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Commvault Systems Stock Performance

Shares of CVLT stock opened at $159.17 on Monday. Commvault Systems, Inc. has a one year low of $93.48 and a one year high of $190.11. The company’s 50-day simple moving average is $165.22 and its 200-day simple moving average is $160.55. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of 41.78 and a beta of 0.62.

Insiders Place Their Bets

In other Commvault Systems news, CEO Sanjay Mirchandani sold 12,318 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total value of $2,290,655.28. Following the transaction, the chief executive officer now owns 427,231 shares of the company’s stock, valued at $79,447,876.76. This trade represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $614,471.78. Following the completion of the transaction, the insider now directly owns 87,316 shares in the company, valued at $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 currently owned by corporate insiders.

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.