Commvault Systems (NASDAQ:CVLT - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Tuesday.
Other analysts also recently issued research reports about the company. Cantor Fitzgerald boosted their price objective on Commvault Systems from $159.00 to $173.00 and gave the company 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. Oppenheimer started coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They issued an "outperform" rating and a $200.00 price target on the stock. KeyCorp increased their target price on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Finally, William Blair raised Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $156.44.
Get Our Latest Research Report on CVLT
Commvault Systems Stock Up 1.1 %
Shares of Commvault Systems stock traded up $1.93 during trading on Tuesday, hitting $170.56. 442,981 shares of the stock traded hands, compared to its average volume of 511,190. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 44.77 and a beta of 0.65. Commvault Systems has a 52 week low of $93.48 and a 52 week high of $190.11. The firm's fifty day moving average is $164.51 and its 200-day moving average is $159.80.
Insider Transactions at Commvault Systems
In other Commvault Systems 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 value of $2,290,655.28. Following the completion of the transaction, the chief executive officer now owns 427,231 shares in the company, valued at approximately $79,447,876.76. This represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary Merrill sold 3,287 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $614,471.78. Following the sale, the insider now owns 87,316 shares in the company, 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.
Institutional Investors Weigh In On Commvault Systems
A number of hedge funds and other institutional investors have recently bought and sold shares of CVLT. Vanguard Group Inc. grew its stake in shares of Commvault Systems by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,636,559 shares of the software maker's stock worth $850,613,000 after buying an additional 54,562 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Commvault Systems by 1.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,909,185 shares of the software maker's stock worth $288,115,000 after acquiring an additional 24,900 shares during the last quarter. Invesco Ltd. grew its stake in shares of 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 acquiring an additional 607,643 shares during the last quarter. State Street Corp increased its holdings in shares of Commvault Systems by 1.6% during the third quarter. State Street Corp now owns 1,594,045 shares of the software maker's stock valued at $245,244,000 after acquiring an additional 25,082 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Commvault Systems by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 1,288,068 shares of the software maker's stock worth $194,681,000 after purchasing an additional 43,088 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.
About Commvault Systems
(
Get Free Report)
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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