Commvault Systems (NASDAQ:CVLT - Free Report) had its price objective cut by KeyCorp from $195.00 to $185.00 in a report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the software maker's stock.
Several other brokerages have also recently issued reports on CVLT. Cantor Fitzgerald upped their price objective on Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Piper Sandler dropped their price objective on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. StockNews.com raised shares of Commvault Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. William Blair raised shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. Finally, Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a research note on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $158.00.
Read Our Latest Stock Analysis on CVLT
Commvault Systems Stock Down 0.9 %
NASDAQ CVLT traded down $1.32 on Thursday, reaching $149.74. The company had a trading volume of 367,592 shares, compared to its average volume of 406,541. The firm's 50 day moving average price is $162.17 and its 200 day moving average price is $161.65. Commvault Systems has a 12 month low of $94.28 and a 12 month high of $190.11. The stock has a market capitalization of $6.59 billion, a PE ratio of 39.30 and a beta of 0.68.
Insider Activity
In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value of $614,471.78. Following the completion of the sale, the insider now directly owns 87,316 shares in the company, valued at approximately $16,322,853.04. This trade represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $2,290,655.28. Following the transaction, the chief executive officer now owns 427,231 shares in the company, 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. Company insiders own 1.00% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of CVLT. Benjamin Edwards Inc. grew its stake in Commvault Systems by 3.3% during the 4th quarter. Benjamin Edwards Inc. now owns 1,803 shares of the software maker's stock worth $272,000 after buying an additional 58 shares during the last quarter. Hancock Whitney Corp increased its holdings in shares of Commvault Systems by 1.0% in the 4th quarter. Hancock Whitney Corp now owns 5,781 shares of the software maker's stock valued at $872,000 after acquiring an additional 60 shares during the period. Nisa Investment Advisors LLC raised its position in Commvault Systems by 3.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker's stock valued at $296,000 after purchasing an additional 66 shares during the last quarter. NorthCrest Asset Manangement LLC grew its position in Commvault Systems by 1.3% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 5,753 shares of the software maker's stock worth $908,000 after purchasing an additional 72 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of Commvault Systems by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker's stock valued at $213,000 after buying an additional 75 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.
Commvault Systems Company Profile
(
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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.
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