Convergence Investment Partners LLC Sells 6,048 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Convergence Investment Partners LLC lessened its position in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 33.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,989 shares of the software maker's stock after selling 6,048 shares during the period. Convergence Investment Partners LLC's holdings in Commvault Systems were worth $1,809,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Creative Planning raised its stake in shares of Commvault Systems by 66.0% during the third quarter. Creative Planning now owns 12,150 shares of the software maker's stock valued at $1,869,000 after purchasing an additional 4,829 shares in the last quarter. Raymond James & Associates increased its stake in Commvault Systems by 58.1% during the 3rd quarter. Raymond James & Associates now owns 15,410 shares of the software maker's stock valued at $2,371,000 after buying an additional 5,661 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Commvault Systems by 365.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 91,869 shares of the software maker's stock worth $14,134,000 after buying an additional 72,146 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Commvault Systems by 43.9% in the 3rd quarter. Signaturefd LLC now owns 590 shares of the software maker's stock worth $91,000 after acquiring an additional 180 shares during the period. Finally, International Assets Investment Management LLC bought a new position in shares of Commvault Systems in the third quarter valued at approximately $4,142,000. 93.50% of the stock is currently owned by institutional investors.

Commvault Systems Price Performance

Shares of NASDAQ CVLT traded down $14.27 during midday trading on Friday, hitting $170.61. The stock had a trading volume of 743,211 shares, compared to its average volume of 525,356. The firm has a market cap of $7.51 billion, a P/E ratio of 44.78 and a beta of 0.65. Commvault Systems, Inc. has a fifty-two week low of $92.36 and a fifty-two week high of $190.11. The company's 50-day simple moving average is $163.97 and its 200 day simple moving average is $158.89.

Insider Activity at Commvault Systems

In other news, Director Allison Pickens sold 1,232 shares of the business's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction of $212,520.00. Following the transaction, the director now directly owns 5,899 shares in the company, valued at $1,017,577.50. The trade was a 17.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 427,231 shares in the company, valued at $79,447,876.76. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,837 shares of company stock valued at $3,117,647. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on CVLT. Royal Bank of Canada raised their target price on Commvault Systems from $164.00 to $182.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 30th. KeyCorp raised their price objective 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. William Blair upgraded shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a report on Thursday, January 30th. Guggenheim reissued a "neutral" rating on shares of Commvault Systems in a research note on Wednesday, January 29th. Finally, StockNews.com lowered shares of Commvault Systems from a "buy" rating to a "hold" rating in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average 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.