Legato Capital Management LLC Raises Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Legato Capital Management LLC increased its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 28.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,245 shares of the software maker’s stock after purchasing an additional 1,600 shares during the period. Legato Capital Management LLC’s holdings in Commvault Systems were worth $1,093,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in Commvault Systems by 25.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after buying an additional 120,779 shares during the last quarter. Summit Partners Public Asset Management LLC purchased a new stake in Commvault Systems in the third quarter valued at approximately $67,722,000. Vontobel Holding Ltd. acquired a new position in Commvault Systems during the third quarter worth approximately $1,126,000. Point72 Hong Kong Ltd raised its stake in Commvault Systems by 37.9% during the third quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker’s stock worth $3,603,000 after purchasing an additional 6,433 shares during the period. Finally, Raymond James & Associates boosted its holdings in shares of Commvault Systems by 58.1% in the 3rd quarter. Raymond James & Associates now owns 15,410 shares of the software maker’s stock valued at $2,371,000 after purchasing an additional 5,661 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $172.50, for a total value of $212,520.00. Following the completion of the transaction, the director now directly owns 5,899 shares of the company’s stock, valued at $1,017,577.50. This represents a 17.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $164.89, for a total value of $251,127.47. Following the sale, the insider now directly owns 93,007 shares in the company, valued at approximately $15,335,924.23. The trade was a 1.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,530 shares of company stock valued at $2,244,755 over the last 90 days. 1.00% of the stock is owned by corporate insiders.

Commvault Systems Stock Performance

CVLT stock opened at $178.55 on Thursday. The stock has a 50-day simple moving average of $162.44 and a 200-day simple moving average of $157.05. The firm has a market cap of $7.86 billion, a P/E ratio of 46.86 and a beta of 0.65. Commvault Systems, Inc. has a 1 year low of $90.32 and a 1 year high of $181.51.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CVLT. Cantor Fitzgerald upped their price objective on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Oppenheimer initiated coverage on Commvault Systems in a research note on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price target for the company. William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Finally, Guggenheim restated a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Commvault Systems presently has an average rating of “Moderate Buy” and an average 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.