Victory Capital Management Inc. Sells 75,863 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Victory Capital Management Inc. reduced its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 63.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,012 shares of the software maker's stock after selling 75,863 shares during the quarter. Victory Capital Management Inc. owned 0.10% of Commvault Systems worth $6,642,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its stake in shares of Commvault Systems by 3.5% during 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. CIBC Asset Management Inc grew its stake in shares of Commvault Systems by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker's stock valued at $213,000 after buying an additional 75 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Commvault Systems by 13.7% during the fourth quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker's stock valued at $152,000 after buying an additional 121 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Commvault Systems by 1.0% during the fourth quarter. New York State Common Retirement Fund now owns 13,713 shares of the software maker's stock valued at $2,069,000 after buying an additional 141 shares during the last quarter. Finally, OLD National Bancorp IN grew its stake in shares of Commvault Systems by 7.1% during the fourth 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 during the last quarter. 93.50% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. William Blair upgraded shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a report on Thursday, January 30th. StockNews.com upgraded shares of Commvault Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a report on Wednesday, January 29th. Cantor Fitzgerald increased their target price on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Finally, KeyCorp increased their target price on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $156.44.

Commvault Systems Stock Up 0.3 %

Shares of NASDAQ CVLT traded up $0.53 on Tuesday, reaching $161.09. 414,385 shares of the company's stock traded hands, compared to its average volume of 370,790. Commvault Systems, Inc. has a 12 month low of $93.48 and a 12 month high of $190.11. The business's 50 day simple moving average is $165.22 and its two-hundred day simple moving average is $160.60. The company has a market cap of $7.09 billion, a price-to-earnings ratio of 42.28 and a beta of 0.62.

Insider Buying and Selling at Commvault Systems

In related news, insider Gary Merrill sold 3,287 shares of the firm's stock in a transaction that occurred on 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 sale, the insider now owns 87,316 shares of the company's stock, valued at $16,322,853.04. This trade represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of the firm'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 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 $79,447,876.76. This trade represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. 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.