Commvault Systems, Inc. (NASDAQ:CVLT) Receives Average Recommendation of "Moderate Buy" from Brokerages

Commvault Systems, Inc. (NASDAQ:CVLT - Get Free Report) has received an average rating of "Moderate Buy" from the ten ratings firms that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $159.11.

Several equities research analysts have recently commented on the company. Cantor Fitzgerald increased their price objective on Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Piper Sandler dropped their target price on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a report on Tuesday. StockNews.com raised Commvault Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Guggenheim reaffirmed a "neutral" rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Finally, KeyCorp increased their price target on Commvault Systems from $192.00 to $195.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th.

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Insiders Place Their Bets

In other news, CEO Sanjay Mirchandani sold 12,318 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the sale, the chief executive officer now directly owns 427,231 shares of the company's stock, valued at approximately $79,447,876.76. This represents a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gary Merrill sold 3,287 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total value of $614,471.78. Following the completion of the transaction, the insider now directly owns 87,316 shares of the company's stock, valued at approximately $16,322,853.04. This trade represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Commvault Systems

Hedge funds have recently bought and sold shares of the company. Quarry LP boosted its position in shares of 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 lifted its stake in Commvault Systems by 584.0% during the first quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker's stock worth $27,000 after purchasing an additional 146 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings 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 in the last quarter. NBC Securities Inc. bought a new position in shares of Commvault Systems in the 1st quarter valued at $43,000. Finally, Versant Capital Management Inc raised its holdings in shares of 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 buying an additional 191 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Commvault Systems Stock Performance

CVLT traded down $6.33 on Friday, hitting $151.39. 377,603 shares of the company were exchanged, compared to its average volume of 403,778. The stock's fifty day moving average is $164.84 and its 200-day moving average is $161.65. Commvault Systems has a 12 month low of $93.48 and a 12 month high of $190.11. The company has a market cap of $6.66 billion, a PE ratio of 39.74 and a beta of 0.68.

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.