Piper Sandler Has Lowered Expectations for Commvault Systems (NASDAQ:CVLT) Stock Price

Commvault Systems (NASDAQ:CVLT) had its price target lowered by equities researchers at Piper Sandler from $154.00 to $147.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the software maker’s stock. Piper Sandler’s price objective points to a potential downside of 0.44% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. William Blair raised Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. StockNews.com raised shares of Commvault Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a research note 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. Finally, Cantor Fitzgerald raised their price objective on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $159.11.

Commvault Systems Trading Up 3.9 %

Shares of CVLT traded up $5.58 during midday trading on Tuesday, hitting $147.66. 60,742 shares of the company’s stock traded hands, compared to its average volume of 399,125. The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of 38.91 and a beta of 0.68. Commvault Systems has a 1 year low of $93.48 and a 1 year high of $190.11. The firm’s fifty day moving average is $165.55 and its 200-day moving average is $161.89.

Insiders Place Their Bets

In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of the company’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 in the company, valued at approximately $16,322,853.04. This represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the completion of the sale, the chief executive officer now owns 427,231 shares in the company, valued at approximately $79,447,876.76. This trade represents 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 Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP raised its holdings in shares of Commvault Systems by 888.2% during the fourth 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 last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Commvault Systems by 208.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 185 shares of the software maker’s stock valued at $29,000 after purchasing an additional 125 shares during the last quarter. Versant Capital Management Inc boosted its stake in Commvault Systems by 183.7% during the 1st quarter. Versant Capital Management Inc now owns 295 shares of the software maker’s stock worth $47,000 after purchasing an additional 191 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Commvault Systems by 409.0% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 341 shares of the software maker’s stock worth $51,000 after buying an additional 274 shares in the last quarter. Finally, TFC Financial Management Inc. raised its position in shares of Commvault Systems by 294.1% in the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock valued at $61,000 after buying an additional 300 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

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.