Strategic Financial Concepts LLC Takes $6.90 Million Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Strategic Financial Concepts LLC bought a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 45,726 shares of the software maker's stock, valued at approximately $6,901,000. Strategic Financial Concepts LLC owned about 0.10% of Commvault Systems at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CVLT. Nisa Investment Advisors LLC boosted its position in Commvault Systems by 3.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker's stock valued at $296,000 after buying an additional 66 shares during the last quarter. GAMMA Investing LLC raised its stake in Commvault Systems by 13.7% in the 4th quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker's stock valued at $152,000 after purchasing an additional 121 shares during the last quarter. OLD National Bancorp IN grew its holdings in Commvault Systems by 7.1% in the 4th quarter. OLD National Bancorp IN now owns 2,187 shares of the software maker's stock valued at $330,000 after buying an additional 145 shares in the last quarter. Lindenwold Advisors INC grew its holdings in Commvault Systems by 2.4% in the 3rd quarter. Lindenwold Advisors INC now owns 7,028 shares of the software maker's stock valued at $1,081,000 after buying an additional 164 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Commvault Systems by 43.9% during the 3rd quarter. Signaturefd LLC now owns 590 shares of the software maker's stock worth $91,000 after purchasing an additional 180 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CVLT. Oppenheimer initiated coverage on Commvault Systems in a report on Wednesday, November 13th. They set an "outperform" rating and a $200.00 target price for the company. Cantor Fitzgerald boosted their target price on Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. StockNews.com lowered Commvault Systems from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 16th. KeyCorp upped their target price on Commvault Systems from $192.00 to $195.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Finally, Guggenheim restated a "neutral" rating on shares of Commvault Systems 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 company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $156.44.

Insider Activity at Commvault Systems

In related news, CEO Sanjay Mirchandani sold 10,775 shares of Commvault Systems stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the transaction, the chief executive officer now owns 459,969 shares of the company's stock, valued at $76,032,875.70. This trade represents a 2.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary Merrill sold 1,523 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $164.89, for a total transaction of $251,127.47. Following the sale, the insider now owns 93,007 shares in the company, valued at $15,335,924.23. This trade represents a 1.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,530 shares of company stock worth $2,244,755 over the last three months. Company insiders own 1.00% of the company's stock.

Commvault Systems Stock Up 0.0 %

Shares of Commvault Systems stock traded up $0.01 during midday trading on Wednesday, hitting $178.55. The company's stock had a trading volume of 549,853 shares, compared to its average volume of 521,141. The firm has a market capitalization of $7.86 billion, a P/E ratio of 46.86 and a beta of 0.65. The stock has a 50-day simple moving average of $162.44 and a 200-day simple moving average of $157.05. Commvault Systems, Inc. has a 1-year low of $90.32 and a 1-year high of $181.51.

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.