Alliance Wealth Advisors LLC UT Increases Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Alliance Wealth Advisors LLC UT lifted its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 8.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,551 shares of the software maker’s stock after purchasing an additional 352 shares during the quarter. Alliance Wealth Advisors LLC UT’s holdings in Commvault Systems were worth $687,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Creative Planning increased its stake in Commvault Systems by 67.6% in the 2nd quarter. Creative Planning now owns 7,321 shares of the software maker’s stock worth $890,000 after acquiring an additional 2,954 shares during the last quarter. GAMMA Investing LLC increased its position in Commvault Systems by 67.3% in the third quarter. GAMMA Investing LLC now owns 885 shares of the software maker’s stock worth $136,000 after purchasing an additional 356 shares during the last quarter. Kesler Norman & Wride LLC purchased a new stake in Commvault Systems during the third quarter valued at $613,000. Private Advisory Group LLC purchased a new position in shares of Commvault Systems in the 3rd quarter worth $1,030,000. Finally, Burns Matteson Capital Management LLC bought a new stake in shares of Commvault Systems in the 3rd quarter worth about $408,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVLT has been the subject of several recent research reports. Oppenheimer initiated coverage on Commvault Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target for the company. Cantor Fitzgerald lifted their target price on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Royal Bank of Canada boosted their target price on 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 raised shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. Finally, KeyCorp boosted their price objective on shares of Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Five research 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 has an average rating of “Moderate Buy” and an average target price of $156.44.

Insider Transactions at Commvault Systems

In related news, Director Allison Pickens sold 1,232 shares of the business’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 value of $212,520.00. Following the completion of the transaction, the director now owns 5,899 shares of the company’s stock, valued at $1,017,577.50. The trade was a 17.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sanjay Mirchandani sold 10,775 shares of Commvault Systems 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 transaction, the chief executive officer now owns 459,969 shares in the company, valued at $76,032,875.70. This represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,530 shares of company stock valued at $2,244,755. 1.00% of the stock is currently owned by corporate insiders.

Commvault Systems Stock Performance

Shares of NASDAQ CVLT opened at $167.28 on Wednesday. The stock has a 50 day moving average price of $162.02 and a 200 day moving average price of $155.23. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of 43.91 and a beta of 0.65. Commvault Systems, Inc. has a 52-week low of $90.32 and a 52-week high of $178.72.

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.