Commvault Systems (NASDAQ:CVLT) Price Target Cut to $147.00 by Analysts at Piper Sandler

Commvault Systems (NASDAQ:CVLT - Get Free Report) had its target price dropped by Piper Sandler from $154.00 to $147.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the software maker's stock. Piper Sandler's price target suggests a potential downside of 3.60% from the company's current price.

A number of other research firms have also commented on CVLT. Guggenheim reaffirmed a "neutral" rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Cantor Fitzgerald upped their target price on Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. KeyCorp lifted their price target on shares of Commvault Systems from $192.00 to $195.00 and gave the company an "overweight" rating in a 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, StockNews.com raised shares of Commvault Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $159.11.

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Commvault Systems Trading Up 0.7 %

Shares of NASDAQ:CVLT traded up $1.10 on Tuesday, reaching $152.49. 287,098 shares of the company traded hands, compared to its average volume of 403,429. The stock has a market capitalization of $6.71 billion, a P/E ratio of 40.02 and a beta of 0.68. The business's 50-day simple moving average is $164.54 and its 200 day simple moving average is $161.65. Commvault Systems has a 52 week low of $93.48 and a 52 week high of $190.11.

Insider Activity at Commvault Systems

In other Commvault Systems news, CEO Sanjay Mirchandani sold 12,318 shares of the 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Gary Merrill sold 3,287 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total value of $614,471.78. Following the sale, the insider now 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. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Commvault Systems

Large investors have recently made changes to their positions in the stock. Congress Asset Management Co. lifted its position in Commvault Systems by 7.7% during the first quarter. Congress Asset Management Co. now owns 560,442 shares of the software maker's stock valued at $88,415,000 after purchasing an additional 40,064 shares during the period. Portside Wealth Group LLC lifted its holdings in shares of Commvault Systems by 16.2% in the 1st quarter. Portside Wealth Group LLC now owns 3,806 shares of the software maker's stock valued at $574,000 after buying an additional 530 shares during the period. Whipplewood Advisors LLC boosted its stake in shares of Commvault Systems by 584.0% in the first quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker's stock worth $27,000 after buying an additional 146 shares during the last quarter. NBC Securities Inc. acquired a new stake in Commvault Systems during the first quarter worth about $43,000. Finally, Rhumbline Advisers raised its position in Commvault Systems by 1.5% during the first quarter. Rhumbline Advisers now owns 139,664 shares of the software maker's stock valued at $22,033,000 after acquiring an additional 2,052 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

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.