Commvault Systems, Inc. (NASDAQ:CVLT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Commvault Systems, Inc. (NASDAQ:CVLT) have received an average rating of “Moderate Buy” from the ten analysts that are covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $159.11.

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

Commvault Systems Price Performance

Shares of NASDAQ CVLT opened at $152.49 on Friday. The firm’s 50-day moving average is $164.54 and its two-hundred day moving average is $161.65. The company has a market capitalization of $6.71 billion, a PE ratio of 40.02 and a beta of 0.68. Commvault Systems has a 12-month low of $93.48 and a 12-month high of $190.11.

Insider Activity at Commvault Systems

In other news, 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 sale, 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 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 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 transaction of $2,290,655.28. Following the transaction, the chief executive officer now directly owns 427,231 shares of the company’s stock, 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. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Invesco Ltd. lifted its position in Commvault Systems by 57.7% in the fourth quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker’s stock worth $250,527,000 after purchasing an additional 607,643 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Commvault Systems by 604.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker’s stock worth $98,479,000 after acquiring an additional 555,656 shares during the period. Norges Bank purchased a new position in Commvault Systems during the fourth quarter valued at approximately $79,619,000. Polar Capital Holdings Plc grew its holdings in shares of Commvault Systems by 182.5% during the 4th quarter. Polar Capital Holdings Plc now owns 362,958 shares of the software maker’s stock valued at $54,774,000 after acquiring an additional 234,477 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Commvault Systems by 20,945.1% in the first quarter. GAMMA Investing LLC now owns 211,714 shares of the software maker’s stock valued at $33,400,000 after purchasing an additional 210,708 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

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.