Lindenwold Advisors INC Reduces Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Lindenwold Advisors INC reduced its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 4.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,681 shares of the software maker’s stock after selling 347 shares during the period. Lindenwold Advisors INC’s holdings in Commvault Systems were worth $1,008,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its holdings 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 worth $245,244,000 after buying an additional 25,082 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 valued at $98,479,000 after acquiring an additional 555,656 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake 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 during the period. Congress Asset Management Co. grew its holdings in Commvault Systems by 5.7% during the 4th quarter. Congress Asset Management Co. now owns 520,378 shares of the software maker’s stock worth $78,530,000 after acquiring an additional 28,216 shares in the last quarter. Finally, FMR LLC increased its position in Commvault Systems by 26.1% during 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 period. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CVLT. StockNews.com upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Guggenheim reaffirmed a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. KeyCorp boosted their price target on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. William Blair raised Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Finally, Cantor Fitzgerald raised their price objective on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.44.

Insiders Place Their Bets

In other news, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value of $614,471.78. Following the sale, the insider now directly owns 87,316 shares of the company’s stock, valued at $16,322,853.04. The trade was a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 427,231 shares in the company, valued at $79,447,876.76. The trade was 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 Price Performance

NASDAQ CVLT opened at $161.09 on Wednesday. Commvault Systems, Inc. has a 1 year low of $93.48 and a 1 year high of $190.11. The stock’s fifty day moving average price is $165.38 and its 200 day moving average price is $160.64. The company has a market cap of $7.09 billion, a price-to-earnings ratio of 42.28 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.