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

Strategic Financial Concepts LLC purchased a new stake in Commvault Systems, Inc. (NASDAQ:CVLT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 45,726 shares of the software maker’s stock, valued at approximately $6,901,000.

A number of other large investors also recently bought and sold shares of CVLT. Allspring Global Investments Holdings LLC increased its holdings in Commvault Systems by 604.8% in the 4th 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. Summit Partners Public Asset Management LLC acquired a new stake in shares of Commvault Systems in the third quarter valued at about $67,722,000. Charles Schwab Investment Management Inc. increased its stake in shares of Commvault Systems by 25.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after purchasing an additional 120,779 shares in the last quarter. Congress Asset Management Co. raised its position in shares of Commvault Systems by 29.4% during the 3rd quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker’s stock worth $75,719,000 after purchasing an additional 111,715 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in Commvault Systems in the 3rd quarter valued at about $15,264,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CVLT. Royal Bank of Canada boosted their price objective on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. 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. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. Oppenheimer started coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 target price for the company. Finally, William Blair raised shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.44.

Insider Activity

In other news, CEO Sanjay Mirchandani sold 10,775 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $165.30, for a total value 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 represents a 2.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Allison Pickens sold 1,232 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $172.50, for a total value of $212,520.00. Following the transaction, the director now owns 5,899 shares of the company’s stock, valued at approximately $1,017,577.50. This represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,530 shares of company stock valued at $2,244,755 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Commvault Systems Trading Up 0.7 %

Commvault Systems stock opened at $184.91 on Friday. The company has a 50-day moving average price of $162.92 and a 200 day moving average price of $157.85. Commvault Systems, Inc. has a 12-month low of $90.32 and a 12-month high of $186.52. The stock has a market cap of $8.14 billion, a P/E ratio of 48.53 and a beta of 0.65.

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.