Summit Global Investments Has $1.17 Million Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Summit Global Investments decreased its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 4.4% in the 4th quarter, according to the company in its most recent 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 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Commvault Systems by 25.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after purchasing an additional 120,779 shares in the last quarter. Summit Partners Public Asset Management LLC bought a new position in shares of Commvault Systems in the 3rd quarter worth $67,722,000. Point72 Hong Kong Ltd lifted its holdings in shares of Commvault Systems by 37.9% in the 3rd quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker’s stock worth $3,603,000 after purchasing an additional 6,433 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of Commvault Systems by 31.8% in the 3rd quarter. Intech Investment Management LLC now owns 24,074 shares of the software maker’s stock worth $3,704,000 after purchasing an additional 5,805 shares in the last quarter. Finally, Centiva Capital LP lifted its holdings in shares of Commvault Systems by 193.2% in the 3rd quarter. Centiva Capital LP now owns 8,567 shares of the software maker’s stock worth $1,318,000 after purchasing an additional 5,645 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity

In other news, insider Gary Merrill sold 3,287 shares of the firm’s stock in a transaction 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 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total value of $2,290,655.28. Following the sale, the chief executive officer now directly owns 427,231 shares of the company’s stock, valued at approximately $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. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CVLT. KeyCorp increased their target price 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 increased their target price on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, January 29th. Finally, StockNews.com upgraded Commvault Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $156.44.

Commvault Systems Price Performance

Shares of Commvault Systems stock opened at $161.52 on Friday. Commvault Systems, Inc. has a 1 year low of $93.48 and a 1 year high of $190.11. The firm has a market cap of $7.11 billion, a PE ratio of 42.39 and a beta of 0.62. The stock has a fifty day moving average price of $165.77 and a 200-day moving average price of $160.81.

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.