Congress Wealth Management LLC DE Buys 9,634 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Congress Wealth Management LLC DE increased its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 12.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,903 shares of the software maker’s stock after acquiring an additional 9,634 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Commvault Systems were worth $13,416,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its holdings in shares of Commvault Systems by 604.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker’s stock valued at $98,479,000 after acquiring an additional 555,656 shares in the last quarter. Summit Partners Public Asset Management LLC acquired a new stake in Commvault Systems in the 3rd quarter valued at $67,722,000. Charles Schwab Investment Management Inc. increased its stake in Commvault Systems by 25.9% during 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 purchasing an additional 120,779 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in Commvault Systems during the third quarter worth $15,264,000. Finally, FMR LLC lifted its stake in shares of Commvault Systems by 26.1% in the third quarter. FMR LLC now owns 466,315 shares of the software maker’s stock valued at $71,743,000 after buying an additional 96,525 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CVLT shares. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. KeyCorp upped their price target on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Cantor Fitzgerald raised their price objective on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research note 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 research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $156.44.

Commvault Systems Price Performance

NASDAQ CVLT opened at $169.17 on Tuesday. The business’s fifty day moving average is $166.03 and its 200-day moving average is $161.04. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of 44.40 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.

Insider Buying and Selling

In other Commvault Systems news, CEO Sanjay Mirchandani sold 12,318 shares of the firm’s stock in a transaction 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 directly owns 427,231 shares of the company’s stock, valued at $79,447,876.76. This trade represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 value of $614,471.78. Following the transaction, the insider now directly owns 87,316 shares in the company, valued at $16,322,853.04. This 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 corporate 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.