Commvault Systems, Inc. (NASDAQ:CVLT) Receives $156.44 Average PT from Analysts

Commvault Systems, Inc. (NASDAQ:CVLT) has earned an average rating of “Moderate Buy” from the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $156.44.

A number of research analysts have recently commented on the company. Cantor Fitzgerald increased their price objective on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. KeyCorp increased their price objective on Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. William Blair raised Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. Finally, StockNews.com raised Commvault Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th.

Commvault Systems Price Performance

CVLT opened at $159.17 on Wednesday. Commvault Systems has a fifty-two week low of $93.48 and a fifty-two week high of $190.11. The business has a 50-day moving average of $165.22 and a 200-day moving average of $160.55. The company has a market capitalization of $7.00 billion, a PE ratio of 41.78 and a beta of 0.62.

Insider Buying and Selling at Commvault Systems

In other news, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total transaction of $614,471.78. Following the sale, the insider now owns 87,316 shares of the company’s stock, valued at approximately $16,322,853.04. This trade represents a 3.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 in the company, valued at $79,447,876.76. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

Institutional investors have recently modified their holdings of the company. Benjamin Edwards Inc. lifted its position in shares of Commvault Systems by 3.3% during the 4th quarter. Benjamin Edwards Inc. now owns 1,803 shares of the software maker’s stock worth $272,000 after buying an additional 58 shares during the period. Hancock Whitney Corp lifted its position in shares of Commvault Systems by 1.0% during the 4th quarter. Hancock Whitney Corp now owns 5,781 shares of the software maker’s stock worth $872,000 after buying an additional 60 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Commvault Systems by 3.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker’s stock worth $296,000 after buying an additional 66 shares during the period. CIBC Asset Management Inc lifted its position in shares of Commvault Systems by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker’s stock worth $213,000 after buying an additional 75 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of Commvault Systems by 4.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,439 shares of the software maker’s stock worth $368,000 after buying an additional 93 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.