Congress Asset Management Co. Acquires 28,216 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Congress Asset Management Co. boosted its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 5.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 520,378 shares of the software maker’s stock after acquiring an additional 28,216 shares during the period. Congress Asset Management Co. owned 1.19% of Commvault Systems worth $78,530,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. State Street Corp raised its stake in Commvault Systems by 1.6% in the 3rd quarter. State Street Corp now owns 1,594,045 shares of the software maker’s stock valued at $245,244,000 after acquiring an additional 25,082 shares during the period. Allspring Global Investments Holdings LLC increased its position in Commvault Systems by 604.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker’s stock worth $98,479,000 after buying an additional 555,656 shares during the period. Charles Schwab Investment Management Inc. increased its position in Commvault Systems by 25.9% during 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 period. FMR LLC increased its position in Commvault Systems by 26.1% during the 3rd quarter. FMR LLC now owns 466,315 shares of the software maker’s stock worth $71,743,000 after buying an additional 96,525 shares during the period. Finally, Summit Partners Public Asset Management LLC bought a new position in Commvault Systems during the 3rd quarter worth $67,722,000. Institutional investors own 93.50% of the company’s stock.

Insider Activity at Commvault Systems

In other news, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $172.50, for a total transaction of $212,520.00. Following the sale, the director now directly owns 5,899 shares of the company’s stock, valued at approximately $1,017,577.50. This trade represents a 17.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sanjay Mirchandani sold 10,775 shares of Commvault Systems stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $165.30, for a total value of $1,781,107.50. Following the sale, the chief executive officer now directly owns 459,969 shares in the company, valued at $76,032,875.70. The trade was a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,530 shares of company stock valued at $2,244,755 over the last ninety days. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on CVLT. Royal Bank of Canada increased their price objective on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Oppenheimer began coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective on the stock. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Finally, Cantor Fitzgerald raised their price target on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research 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 stock. Based on data from MarketBeat.com, Commvault Systems presently has an average rating of “Moderate Buy” and a consensus target price of $156.44.

Commvault Systems Stock Up 0.7 %

NASDAQ:CVLT opened at $184.91 on Friday. The stock’s 50-day simple moving average is $162.92 and its 200 day simple moving average is $157.85. The firm has a market capitalization of $8.14 billion, a PE ratio of 48.53 and a beta of 0.65. Commvault Systems, Inc. has a twelve month low of $90.32 and a twelve month high of $186.52.

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.