Hillsdale Investment Management Inc. Decreases Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Hillsdale Investment Management Inc. lowered its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 5.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 39,830 shares of the software maker’s stock after selling 2,350 shares during the quarter. Hillsdale Investment Management Inc. owned about 0.09% of Commvault Systems worth $6,011,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Sei Investments Co. grew its holdings in shares of Commvault Systems by 63.9% during the 4th quarter. Sei Investments Co. now owns 157,111 shares of the software maker’s stock worth $23,708,000 after purchasing an additional 61,243 shares during the period. American Century Companies Inc. grew its holdings in shares of Commvault Systems by 1.6% during the 4th quarter. American Century Companies Inc. now owns 19,873 shares of the software maker’s stock worth $2,999,000 after purchasing an additional 304 shares during the period. Virtu Financial LLC grew its holdings in shares of Commvault Systems by 63.9% during the 4th quarter. Virtu Financial LLC now owns 8,243 shares of the software maker’s stock worth $1,244,000 after purchasing an additional 3,214 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Commvault Systems during the 4th quarter worth about $1,545,000. Finally, Lingohr Asset Management GmbH acquired a new position in Commvault Systems during the 4th quarter worth approximately $447,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Activity at Commvault Systems

In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value 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 trade represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the 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 in the company, valued at $79,447,876.76. This represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Commvault Systems Trading Down 0.4 %

CVLT stock opened at $161.52 on Friday. The firm has a market cap of $7.11 billion, a P/E ratio of 42.39 and a beta of 0.62. Commvault Systems, Inc. has a 12-month low of $93.48 and a 12-month high of $190.11. The stock’s 50 day simple moving average is $165.77 and its 200 day simple moving average is $160.73.

Analyst Ratings Changes

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