Commvault Systems (NASDAQ:CVLT) Raised to “Buy” at StockNews.com

Commvault Systems (NASDAQ:CVLT) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

Other research analysts have also recently issued reports about the stock. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. Oppenheimer initiated coverage on Commvault Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price objective on the stock. KeyCorp raised their price objective on Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Finally, Cantor Fitzgerald raised their target price on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Commvault Systems presently has an average rating of “Moderate Buy” and a consensus price target of $156.44.

Commvault Systems Stock Up 1.7 %

CVLT opened at $171.85 on Tuesday. The business has a 50 day moving average of $164.04 and a 200-day moving average of $159.66. The stock has a market cap of $7.56 billion, a PE ratio of 45.11 and a beta of 0.65. Commvault Systems has a 52 week low of $93.48 and a 52 week high of $190.11.

Insiders Place Their Bets

In other news, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction of $212,520.00. Following the completion of the sale, the director now directly owns 5,899 shares in the company, valued at $1,017,577.50. The trade was a 17.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gary Merrill sold 3,287 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were 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 approximately $16,322,853.04. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,837 shares of company stock worth $3,117,647 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP raised its position in shares of Commvault Systems by 888.2% in the 4th quarter. Quarry LP now owns 168 shares of the software maker’s stock valued at $25,000 after purchasing an additional 151 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Commvault Systems in the third quarter valued at $33,000. Point72 Asia Singapore Pte. Ltd. grew its position in Commvault Systems by 409.0% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 341 shares of the software maker’s stock worth $51,000 after purchasing an additional 274 shares during the last quarter. TFC Financial Management Inc. lifted its holdings in Commvault Systems by 294.1% in the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock worth $61,000 after purchasing an additional 300 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in shares of Commvault Systems during the third quarter valued at approximately $71,000. Institutional investors and hedge funds 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.