Hillsdale Investment Management Inc. Sells 2,350 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Hillsdale Investment Management Inc. decreased its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,830 shares of the software maker's stock after selling 2,350 shares during the period. Hillsdale Investment Management Inc. owned 0.09% of Commvault Systems worth $6,011,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVLT. State Street Corp grew its stake in shares of Commvault Systems by 1.6% in the 3rd quarter. State Street Corp now owns 1,594,045 shares of the software maker's stock valued at $245,244,000 after buying an additional 25,082 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Commvault Systems by 604.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker's stock worth $98,479,000 after acquiring an additional 555,656 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Commvault Systems by 25.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker's stock worth $90,278,000 after acquiring an additional 120,779 shares in the last quarter. Congress Asset Management Co. raised its holdings in shares of Commvault Systems by 5.7% during the 4th quarter. Congress Asset Management Co. now owns 520,378 shares of the software maker's stock valued at $78,530,000 after purchasing an additional 28,216 shares in the last quarter. Finally, FMR LLC lifted its stake in shares of Commvault Systems by 26.1% in the 3rd quarter. FMR LLC now owns 466,315 shares of the software maker's stock valued at $71,743,000 after purchasing an additional 96,525 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

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Commvault Systems Stock Down 5.0 %

Commvault Systems stock traded down $8.75 during trading hours on Wednesday, hitting $165.24. The stock had a trading volume of 356,842 shares, compared to its average volume of 374,627. The company has a 50-day moving average of $166.30 and a two-hundred day moving average of $161.28. Commvault Systems, Inc. has a fifty-two week low of $93.48 and a fifty-two week high of $190.11. The company has a market cap of $7.27 billion, a PE ratio of 43.37 and a beta of 0.62.

Insider Activity at Commvault Systems

In related news, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $614,471.78. Following the completion of the transaction, 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 at this hyperlink. Also, CEO Sanjay Mirchandani sold 12,318 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total transaction 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. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on CVLT. StockNews.com upgraded Commvault Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. Guggenheim restated a "neutral" rating on shares of Commvault Systems in a report on Wednesday, January 29th. William Blair upgraded Commvault Systems from a "market perform" rating to an "outperform" rating in a report on Thursday, January 30th. Cantor Fitzgerald boosted their price objective on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. Finally, KeyCorp raised their target price on shares of Commvault Systems from $192.00 to $195.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company 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.