HighTower Advisors LLC Has $2.13 Million Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

HighTower Advisors LLC boosted its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 6.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,116 shares of the software maker’s stock after purchasing an additional 878 shares during the period. HighTower Advisors LLC’s holdings in Commvault Systems were worth $2,130,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TFC Financial Management Inc. lifted its holdings in Commvault Systems by 294.1% in the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock valued at $61,000 after buying an additional 300 shares during the period. Point72 DIFC Ltd acquired a new position in Commvault Systems in the third quarter valued at $71,000. TD Private Client Wealth LLC acquired a new position in Commvault Systems in the third quarter valued at $105,000. Blue Trust Inc. raised its holdings in shares of 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 purchasing an additional 748 shares during the period. Finally, Centaurus Financial Inc. acquired a new position in shares of Commvault Systems during the third quarter valued at about $126,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insiders Place Their Bets

In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total value of $614,471.78. Following the completion of the sale, the insider now directly owns 87,316 shares of the company’s stock, valued at approximately $16,322,853.04. This represents a 3.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of the company’s stock in a transaction dated 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 completion of the sale, 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.

Commvault Systems Price Performance

NASDAQ:CVLT opened at $161.52 on Friday. The firm has a 50-day moving average of $165.77 and a 200-day moving average of $160.81. The company has a market cap of $7.11 billion, a PE ratio of 42.39 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.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CVLT. StockNews.com upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Cantor Fitzgerald upped their price objective on shares of Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. KeyCorp upped their price objective on shares of Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Finally, Guggenheim reiterated a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. Five equities research 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 a consensus 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.