Commvault Systems, Inc. (NASDAQ:CVLT) Receives Average Rating of “Moderate Buy” from Analysts

Commvault Systems, Inc. (NASDAQ:CVLT) has been assigned an average rating of “Moderate Buy” from the ten analysts that are presently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $159.11.

A number of research analysts have issued reports on the stock. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. Cantor Fitzgerald lifted their price target on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Piper Sandler cut their price objective on shares of Commvault Systems from $154.00 to $147.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. StockNews.com raised Commvault Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Finally, KeyCorp upped their price target on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th.

Commvault Systems Price Performance

Shares of CVLT stock opened at $152.49 on Friday. Commvault Systems has a 1-year low of $93.48 and a 1-year high of $190.11. The company has a market cap of $6.71 billion, a price-to-earnings ratio of 40.02 and a beta of 0.68. The stock’s fifty day moving average price is $164.54 and its 200 day moving average price is $161.65.

Insider Buying and Selling

In other Commvault Systems news, CEO Sanjay Mirchandani sold 12,318 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 427,231 shares of the company’s stock, valued at $79,447,876.76. This represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Gary Merrill sold 3,287 shares of the 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 transaction, the insider now directly owns 87,316 shares of the company’s stock, valued at $16,322,853.04. The trade was a 3.63 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Institutional Trading of Commvault Systems

A number of large investors have recently modified their holdings of the stock. Quarry LP grew its holdings in Commvault Systems by 888.2% during the 4th quarter. Quarry LP now owns 168 shares of the software maker’s stock worth $25,000 after acquiring an additional 151 shares in the last quarter. Whipplewood Advisors LLC raised its holdings in shares of Commvault Systems by 584.0% in the first quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker’s stock valued at $27,000 after buying an additional 146 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of 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. NBC Securities Inc. purchased a new position in Commvault Systems in the 1st quarter valued at $43,000. Finally, Versant Capital Management Inc increased its stake in shares of Commvault Systems by 183.7% during the first quarter. Versant Capital Management Inc now owns 295 shares of the software maker’s stock worth $47,000 after acquiring an additional 191 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.