Convergence Financial LLC Acquires Shares of 1,388 Commvault Systems, Inc. (NASDAQ:CVLT)

Convergence Financial LLC acquired a new stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,388 shares of the software maker’s stock, valued at approximately $209,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Illinois Municipal Retirement Fund bought a new position in Commvault Systems during the fourth quarter worth about $733,000. Los Angeles Capital Management LLC boosted its holdings in Commvault Systems by 31.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 36,322 shares of the software maker’s stock worth $5,481,000 after buying an additional 8,613 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Commvault Systems in the 4th quarter worth approximately $1,454,000. Allianz Asset Management GmbH boosted its holdings in Commvault Systems by 8.5% in the 4th quarter. Allianz Asset Management GmbH now owns 357,121 shares of the software maker’s stock worth $53,893,000 after buying an additional 28,016 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Commvault Systems by 17.9% in the fourth quarter. Handelsbanken Fonder AB now owns 10,530 shares of the software maker’s stock worth $1,589,000 after acquiring an additional 1,600 shares during the period. 93.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. William Blair raised Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Oppenheimer initiated coverage on Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 target price for the company. StockNews.com upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating in a research report on Tuesday. KeyCorp raised their price objective on shares of Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Cantor Fitzgerald raised their price target 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. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.44.

Commvault Systems Stock Performance

NASDAQ CVLT opened at $168.63 on Friday. Commvault Systems, Inc. has a 52-week low of $93.48 and a 52-week high of $190.11. The company has a market capitalization of $7.42 billion, a P/E ratio of 44.26 and a beta of 0.65. The company has a fifty day moving average of $164.30 and a 200-day moving average of $159.74.

Insider Transactions at Commvault Systems

In related news, CEO Sanjay Mirchandani sold 12,318 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total value 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 $79,447,876.76. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gary Merrill sold 3,287 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction 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 $16,322,853.04. This trade represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

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.