Alliancebernstein L.P. Reduces Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Alliancebernstein L.P. decreased its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 29.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 420,976 shares of the software maker’s stock after selling 172,226 shares during the quarter. Alliancebernstein L.P. owned approximately 0.96% of Commvault Systems worth $63,529,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. TFC Financial Management Inc. increased its holdings in Commvault Systems by 294.1% during the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock valued at $61,000 after purchasing an additional 300 shares during the period. Point72 DIFC Ltd purchased a new position in shares of Commvault Systems during the third quarter valued at 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. lifted its stake in Commvault Systems by 37,400.0% in the fourth quarter. Blue Trust Inc. now owns 750 shares of the software maker’s stock worth $113,000 after acquiring an additional 748 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in Commvault Systems in the fourth quarter valued at $127,000. 93.50% of the stock is owned by institutional investors.

Insider Activity

In other Commvault Systems news, CEO Sanjay Mirchandani sold 12,318 shares of the stock in a transaction on Wednesday, February 19th. The stock was 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 trade represents a 2.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gary Merrill sold 3,287 shares of the business’s stock in a transaction 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 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 position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Commvault Systems Stock Performance

Shares of CVLT stock opened at $139.35 on Friday. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of 36.57 and a beta of 0.62. Commvault Systems, Inc. has a one year low of $93.48 and a one year high of $190.11. The company’s 50-day moving average is $165.87 and its 200 day moving average is $161.79.

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.