AlphaQuest LLC Increases Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

AlphaQuest LLC grew its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 69.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,023 shares of the software maker’s stock after buying an additional 418 shares during the quarter. AlphaQuest LLC’s holdings in Commvault Systems were worth $154,000 as of its most recent filing with the SEC.

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 shares of 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 valued at $90,278,000 after buying an additional 120,779 shares during the period. Summit Partners Public Asset Management LLC purchased a new stake in Commvault Systems during the third quarter worth approximately $67,722,000. Point72 Hong Kong Ltd lifted 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 last quarter. Intech Investment Management LLC lifted its stake in Commvault Systems by 31.8% during the third quarter. Intech Investment Management LLC now owns 24,074 shares of the software maker’s stock worth $3,704,000 after purchasing an additional 5,805 shares during the last quarter. Finally, Centiva Capital LP lifted its stake in Commvault Systems by 193.2% during the third quarter. Centiva Capital LP now owns 8,567 shares of the software maker’s stock worth $1,318,000 after purchasing an additional 5,645 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald boosted their target price on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. KeyCorp boosted their target price on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. StockNews.com raised Commvault Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Finally, Guggenheim reaffirmed 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 issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $156.44.

Commvault Systems Stock Up 0.9 %

CVLT opened at $160.56 on Tuesday. The firm has a market cap of $7.06 billion, a price-to-earnings ratio of 42.14 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. The business’s 50 day moving average is $165.22 and its two-hundred day moving average is $160.60.

Insider Activity

In other news, insider Gary Merrill sold 3,287 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 87,316 shares of the company’s stock, valued at approximately $16,322,853.04. The trade was a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 in the company, valued at approximately $79,447,876.76. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Commvault Systems Company 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.