Lisanti Capital Growth LLC Reduces Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Lisanti Capital Growth LLC decreased its position in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 9.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,145 shares of the software maker's stock after selling 4,335 shares during the quarter. Commvault Systems makes up 1.6% of Lisanti Capital Growth LLC's investment portfolio, making the stock its 12th largest position. Lisanti Capital Growth LLC owned 0.10% of Commvault Systems worth $6,511,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CVLT. Charles Schwab Investment Management Inc. increased its holdings in Commvault Systems by 25.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker's stock valued at $90,278,000 after purchasing an additional 120,779 shares during the period. Summit Partners Public Asset Management LLC purchased a new position in shares of Commvault Systems during the third quarter valued at approximately $67,722,000. Point72 Hong Kong Ltd increased its stake in shares of Commvault Systems by 37.9% during the third 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. Intech Investment Management LLC raised its holdings in shares of Commvault Systems by 31.8% during the third quarter. Intech Investment Management LLC now owns 24,074 shares of the software maker's stock valued at $3,704,000 after acquiring an additional 5,805 shares in the last quarter. Finally, Centiva Capital LP lifted its stake in Commvault Systems by 193.2% in the third quarter. Centiva Capital LP now owns 8,567 shares of the software maker's stock worth $1,318,000 after acquiring an additional 5,645 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

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Insiders Place Their Bets

In other Commvault Systems news, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems stock in a transaction on 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 completion of the sale, the chief executive officer now owns 427,231 shares of the company's stock, valued at approximately $79,447,876.76. This trade represents a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Merrill sold 3,287 shares of the company'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 directly owns 87,316 shares in the company, valued at approximately $16,322,853.04. The trade was a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

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

Commvault Systems Stock Up 2.3 %

Shares of NASDAQ CVLT traded up $3.47 during trading on Tuesday, reaching $151.95. The company had a trading volume of 363,394 shares, compared to its average volume of 370,639. Commvault Systems, Inc. has a 12-month low of $93.48 and a 12-month high of $190.11. The business's 50-day moving average is $165.22 and its 200 day moving average is $160.50. The stock has a market cap of $6.69 billion, a PE ratio of 39.88 and a beta of 0.62.

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.