Congress Wealth Management LLC DE Has $13.42 Million Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Congress Wealth Management LLC DE raised its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 12.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,903 shares of the software maker's stock after purchasing an additional 9,634 shares during the period. Congress Wealth Management LLC DE owned approximately 0.20% of Commvault Systems worth $13,416,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVLT. Nisa Investment Advisors LLC increased its stake in shares of Commvault Systems by 3.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker's stock valued at $296,000 after purchasing an additional 66 shares during the last quarter. CIBC Asset Management Inc grew its position in Commvault Systems by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker's stock valued at $213,000 after acquiring an additional 75 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Commvault Systems by 4.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,439 shares of the software maker's stock valued at $368,000 after acquiring an additional 93 shares during the last quarter. GAMMA Investing LLC raised its stake in Commvault Systems by 13.7% during the fourth quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker's stock worth $152,000 after acquiring an additional 121 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in shares of Commvault Systems by 1.0% in the fourth quarter. New York State Common Retirement Fund now owns 13,713 shares of the software maker's stock worth $2,069,000 after acquiring an additional 141 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Commvault Systems

In related news, insider Gary Merrill sold 3,287 shares of the business'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 owns 87,316 shares in the company, valued at $16,322,853.04. The trade was a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjay Mirchandani sold 12,318 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 427,231 shares of the company's stock, valued at approximately $79,447,876.76. The trade was 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.

Commvault Systems Price Performance

Shares of CVLT opened at $169.17 on Tuesday. The business has a 50-day moving average of $166.03 and a 200-day moving average of $161.04. The company 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 1 year low of $93.48 and a 1 year high of $190.11.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CVLT. KeyCorp lifted their price target on shares of Commvault Systems from $192.00 to $195.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a report on Wednesday, January 29th. William Blair raised Commvault Systems from a "market perform" rating to an "outperform" rating in a report on Thursday, January 30th. Cantor Fitzgerald upped 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. Finally, StockNews.com raised Commvault Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $156.44.

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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.

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