Marks Group Wealth Management Inc Sells 156 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Marks Group Wealth Management Inc lowered its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,005 shares of the software maker’s stock after selling 156 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Commvault Systems were worth $303,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CVLT. Charles Schwab Investment Management Inc. raised its holdings in shares of Commvault Systems by 25.9% in 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 bought a new stake in Commvault Systems in the third quarter valued at approximately $67,722,000. Vontobel Holding Ltd. acquired a new stake in shares of Commvault Systems in the third quarter valued at approximately $1,126,000. Point72 Hong Kong Ltd lifted its position in shares of Commvault Systems by 37.9% in 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 last quarter. Finally, Raymond James & Associates boosted its stake in shares of Commvault Systems by 58.1% during the 3rd quarter. Raymond James & Associates now owns 15,410 shares of the software maker’s stock worth $2,371,000 after acquiring an additional 5,661 shares during the period. Institutional investors own 93.50% of the company’s stock.

Insider Activity

In other news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction of $212,520.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mirchandani sold 10,775 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $165.30, for a total value of $1,781,107.50. Following the completion of the sale, the chief executive officer now directly owns 459,969 shares in the company, valued at approximately $76,032,875.70. This represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 13,530 shares of company stock worth $2,244,755. 1.00% of the stock is currently owned by company insiders.

Commvault Systems Trading Up 0.0 %

Shares of CVLT stock opened at $178.55 on Thursday. The stock has a market cap of $7.86 billion, a P/E ratio of 46.86 and a beta of 0.65. Commvault Systems, Inc. has a 1 year low of $90.32 and a 1 year high of $181.51. The stock has a 50 day simple moving average of $162.44 and a 200 day simple moving average of $157.05.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald increased their price target on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Royal Bank of Canada increased their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Finally, Guggenheim restated a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $156.44.

About Commvault Systems

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.