Great Lakes Advisors LLC Sells 42,028 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Great Lakes Advisors LLC trimmed its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 15.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 226,812 shares of the software maker’s stock after selling 42,028 shares during the period. Great Lakes Advisors LLC owned 0.52% of Commvault Systems worth $16,471,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Signaturefd LLC raised its stake in shares of Commvault Systems by 728.3% during the second quarter. Signaturefd LLC now owns 381 shares of the software maker’s stock worth $28,000 after buying an additional 335 shares during the last quarter. Quarry LP acquired a new position in Commvault Systems during the first quarter valued at approximately $26,000. Captrust Financial Advisors grew its holdings in Commvault Systems by 64.0% during the second quarter. Captrust Financial Advisors now owns 510 shares of the software maker’s stock valued at $32,000 after purchasing an additional 199 shares during the period. Altshuler Shaham Ltd acquired a new position in Commvault Systems during the fourth quarter valued at approximately $33,000. Finally, Quantbot Technologies LP acquired a new position in Commvault Systems during the second quarter valued at approximately $64,000. 91.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

CVLT has been the subject of a number of analyst reports. DA Davidson initiated coverage on shares of Commvault Systems in a report on Wednesday, August 16th. They set a “buy” rating and a $85.00 price objective for the company. StockNews.com initiated coverage on shares of Commvault Systems in a report on Thursday, October 5th. They set a “strong-buy” rating for the company. Lake Street Capital boosted their price objective on shares of Commvault Systems from $62.00 to $72.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. Finally, Royal Bank of Canada upped their price target on shares of Commvault Systems from $68.00 to $80.00 and gave the company a “sector perform” rating in a report on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.60.

Insider Buying and Selling

In other news, Director Vivie Lee sold 1,848 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $68.71, for a total value of $126,976.08. Following the transaction, the director now owns 16,089 shares in the company, valued at approximately $1,105,475.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Allison Pickens sold 990 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $67.98, for a total value of $67,300.20. Following the transaction, the director now owns 6,049 shares in the company, valued at approximately $411,211.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vivie Lee sold 1,848 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $68.71, for a total transaction of $126,976.08. Following the completion of the transaction, the director now owns 16,089 shares in the company, valued at approximately $1,105,475.19. The disclosure for this sale can be found here. Insiders have sold a total of 13,127 shares of company stock worth $902,501 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Commvault Systems Stock Up 0.4 %

Shares of CVLT stock opened at $69.39 on Friday. The firm has a fifty day moving average of $67.87 and a 200-day moving average of $69.25. Commvault Systems, Inc. has a 12-month low of $53.20 and a 12-month high of $78.80. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of -165.21 and a beta of 0.55.

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.