Clearbridge Investments LLC Lowers Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Clearbridge Investments LLC trimmed its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 22.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,808 shares of the software maker’s stock after selling 20,331 shares during the quarter. Clearbridge Investments LLC owned 0.16% of Commvault Systems worth $10,384,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVLT. TFC Financial Management Inc. lifted its stake in Commvault Systems by 294.1% in the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock worth $61,000 after acquiring an additional 300 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Commvault Systems in the 3rd quarter worth approximately $71,000. TD Private Client Wealth LLC bought a new position in shares of Commvault Systems during the third quarter valued at approximately $105,000. Blue Trust Inc. increased its holdings in 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 buying an additional 748 shares during the period. Finally, GAMMA Investing LLC raised its stake in Commvault Systems by 13.7% in 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 in the last quarter. Institutional investors own 93.50% of the company’s stock.

Commvault Systems Stock Up 2.1 %

Shares of NASDAQ:CVLT opened at $166.39 on Thursday. The business has a 50-day moving average price of $166.45 and a 200-day moving average price of $161.93. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of 43.67 and a beta of 0.62. Commvault Systems, Inc. has a 52-week low of $93.48 and a 52-week high of $190.11.

Insiders Place Their Bets

In related news, 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 sale, the insider now directly owns 87,316 shares of the company’s stock, valued at $16,322,853.04. This trade represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjay Mirchandani sold 12,318 shares of the business’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 value of $2,290,655.28. Following the completion of the transaction, the chief executive officer now directly owns 427,231 shares of the company’s stock, valued at $79,447,876.76. The trade was 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 currently owned by insiders.

Analyst Upgrades and Downgrades

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

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.