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

Shares of Commvault Systems, Inc. (NASDAQ:CVLT) have earned an average rating of “Moderate Buy” from the ten analysts that are currently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $156.44.

Several brokerages have issued reports on CVLT. StockNews.com upgraded Commvault Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Cantor Fitzgerald boosted their target price on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, KeyCorp boosted their target price on 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 Stock Performance

Shares of CVLT opened at $159.17 on Wednesday. The stock has a fifty day moving average price of $165.22 and a two-hundred day moving average price of $160.55. Commvault Systems has a 52-week low of $93.48 and a 52-week high of $190.11. The company has a market cap of $7.00 billion, a price-to-earnings ratio of 41.78 and a beta of 0.62.

Insider Buying and Selling

In related news, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the business’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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Commvault Systems in the fourth quarter valued at about $14,814,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Commvault Systems by 20.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,710 shares of the software maker’s stock valued at $20,480,000 after acquiring an additional 23,176 shares during the period. Vident Advisory LLC grew its stake in Commvault Systems by 14.6% in the fourth quarter. Vident Advisory LLC now owns 27,016 shares of the software maker’s stock valued at $4,077,000 after acquiring an additional 3,446 shares during the period. Sherbrooke Park Advisers LLC bought a new stake in shares of Commvault Systems in the fourth quarter valued at about $280,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings 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 valued at $51,000 after purchasing an additional 274 shares in the last quarter. 93.50% of the stock is 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.