Summit Global Investments Sells 354 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Summit Global Investments decreased its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,743 shares of the software maker’s stock after selling 354 shares during the quarter. Summit Global Investments’ holdings in Commvault Systems were worth $1,168,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CVLT. TFC Financial Management Inc. lifted its position in Commvault Systems by 294.1% during the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock worth $61,000 after purchasing an additional 300 shares during the period. Point72 DIFC Ltd bought a new stake in Commvault Systems during the third quarter worth about $71,000. TD Private Client Wealth LLC bought a new stake in Commvault Systems during the third quarter worth about $105,000. Blue Trust Inc. lifted its position in Commvault Systems by 37,400.0% during the fourth quarter. Blue Trust Inc. now owns 750 shares of the software maker’s stock worth $113,000 after purchasing an additional 748 shares during the period. Finally, Centaurus Financial Inc. bought a new position in shares of Commvault Systems in the third quarter worth about $126,000. Institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on CVLT shares. Cantor Fitzgerald increased their target price on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. William Blair raised shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. KeyCorp increased their target price on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, StockNews.com raised shares of Commvault Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $156.44.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, CEO Sanjay Mirchandani sold 12,318 shares of the 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 of the company’s stock, valued at approximately $79,447,876.76. This represents a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gary Merrill sold 3,287 shares of the stock in a transaction that occurred 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 sale, the insider now directly 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. Insiders own 1.00% of the company’s stock.

Commvault Systems Stock Performance

NASDAQ:CVLT opened at $161.52 on Friday. The company has a market capitalization of $7.11 billion, a PE ratio of 42.39 and a beta of 0.62. The company has a 50 day simple moving average of $165.77 and a two-hundred day simple moving average of $160.81. Commvault Systems, Inc. has a fifty-two week low of $93.48 and a fifty-two week high of $190.11.

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.