StockNews.com Upgrades Commvault Systems (NASDAQ:CVLT) to Buy

Commvault Systems (NASDAQ:CVLT) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

Other equities research analysts have also issued research reports about the stock. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, January 29th. Royal Bank of Canada lifted their price target on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. William Blair raised Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. Cantor Fitzgerald increased their price target on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, KeyCorp increased their price target on shares of Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.44.

Commvault Systems Trading Up 1.7 %

Shares of NASDAQ CVLT opened at $171.85 on Tuesday. The company has a market capitalization of $7.56 billion, a price-to-earnings ratio of 45.11 and a beta of 0.65. Commvault Systems has a twelve month low of $93.48 and a twelve month high of $190.11. The business has a 50 day simple moving average of $164.04 and a 200-day simple moving average of $159.66.

Insider Activity at Commvault Systems

In related news, CEO Sanjay Mirchandani sold 12,318 shares of the business’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 sale, the chief executive officer now directly owns 427,231 shares of the company’s stock, valued at approximately $79,447,876.76. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gary Merrill sold 3,287 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $614,471.78. Following the completion of the transaction, the insider now directly owns 87,316 shares of the company’s stock, valued at $16,322,853.04. This represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,837 shares of company stock valued at $3,117,647 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Commvault Systems

Several hedge funds have recently added to or reduced their stakes in CVLT. Quarry LP lifted its position in shares of Commvault Systems by 888.2% during the 4th quarter. Quarry LP now owns 168 shares of the software maker’s stock valued at $25,000 after acquiring an additional 151 shares during the period. Capital Performance Advisors LLP purchased a new stake in Commvault Systems in the third quarter worth $33,000. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Commvault Systems by 409.0% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 341 shares of the software maker’s stock worth $51,000 after purchasing an additional 274 shares in the last quarter. TFC Financial Management Inc. lifted its position in shares of Commvault Systems by 294.1% during the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock worth $61,000 after acquiring an additional 300 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of Commvault Systems during the third quarter valued at about $71,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

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.