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

Congress Wealth Management LLC DE increased its holdings 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 fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in Commvault Systems by 25.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker's stock worth $90,278,000 after buying an additional 120,779 shares during the last quarter. Summit Partners Public Asset Management LLC acquired a new stake in shares of Commvault Systems during the third quarter worth about $67,722,000. Point72 Hong Kong Ltd boosted its position in Commvault Systems by 37.9% in the 3rd quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker's stock valued at $3,603,000 after buying an additional 6,433 shares during the period. Virtu Financial LLC boosted its holdings in Commvault Systems by 63.9% in the fourth quarter. Virtu Financial LLC now owns 8,243 shares of the software maker's stock valued at $1,244,000 after purchasing an additional 3,214 shares during the period. Finally, Centiva Capital LP grew its position in shares of Commvault Systems by 193.2% during the third quarter. Centiva Capital LP now owns 8,567 shares of the software maker's stock worth $1,318,000 after buying an additional 5,645 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

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Commvault Systems Stock Down 2.0 %

CVLT stock traded down $3.30 during mid-day trading on Friday, reaching $161.98. 298,402 shares of the stock traded hands, compared to its average volume of 393,217. Commvault Systems, Inc. has a 52 week low of $93.48 and a 52 week high of $190.11. The business has a 50-day moving average of $166.47 and a two-hundred day moving average of $161.47. The firm has a market capitalization of $7.13 billion, a PE ratio of 42.51 and a beta of 0.62.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CVLT. StockNews.com upgraded Commvault Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. Cantor Fitzgerald lifted their price target on Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a research note 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 research note on Thursday, January 30th. Finally, KeyCorp increased their price target on shares of Commvault Systems from $192.00 to $195.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $156.44.

Insiders Place Their Bets

In related news, insider Gary Merrill sold 3,287 shares of the company's stock in a transaction dated 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 approximately $16,322,853.04. This represents a 3.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of the business's stock in a transaction dated 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 directly 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 position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

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.