Victory Capital Management Inc. Reduces Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Victory Capital Management Inc. lowered its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 63.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,012 shares of the software maker’s stock after selling 75,863 shares during the quarter. Victory Capital Management Inc. owned 0.10% of Commvault Systems worth $6,642,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norden Group LLC raised its position in shares of Commvault Systems by 6.6% during the 4th quarter. Norden Group LLC now owns 5,840 shares of the software maker’s stock valued at $881,000 after purchasing an additional 364 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of Commvault Systems during the 4th quarter valued at $367,000. Convergence Financial LLC bought a new stake in shares of Commvault Systems during the 4th quarter valued at $209,000. Illinois Municipal Retirement Fund bought a new stake in shares of Commvault Systems during the 4th quarter valued at $733,000. Finally, Los Angeles Capital Management LLC raised its position in shares of Commvault Systems by 31.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 36,322 shares of the software maker’s stock valued at $5,481,000 after purchasing an additional 8,613 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Commvault Systems Price Performance

Shares of CVLT opened at $159.17 on Friday. Commvault Systems, Inc. has a 1-year low of $93.48 and a 1-year high of $190.11. The stock has a market cap of $7.00 billion, a PE ratio of 41.78 and a beta of 0.62. The firm has a 50-day simple moving average of $165.22 and a two-hundred day simple moving average of $160.41.

Analyst Ratings Changes

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

Insider Activity at Commvault Systems

In other news, 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 transaction of $2,290,655.28. Following the completion of the sale, the chief executive officer now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $614,471.78. Following the sale, 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. Company insiders own 1.00% of the company’s stock.

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.