Commvault Systems, Inc. (NASDAQ:CVLT) Receives $156.44 Consensus PT from Brokerages

Commvault Systems, Inc. (NASDAQ:CVLT) has been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $156.44.

Several equities research analysts recently weighed in on CVLT shares. William Blair raised shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. KeyCorp upped their price target on Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Cantor Fitzgerald lifted 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. Finally, StockNews.com raised Commvault Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th.

Commvault Systems Stock Performance

NASDAQ:CVLT opened at $159.17 on Wednesday. The firm has a market cap of $7.00 billion, a P/E ratio of 41.78 and a beta of 0.62. Commvault Systems has a fifty-two week low of $93.48 and a fifty-two week high of $190.11. The firm has a 50-day simple moving average of $165.22 and a two-hundred day simple moving average of $160.41.

Insiders Place Their Bets

In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of the company’s stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 427,231 shares in the company, valued at $79,447,876.76. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Commvault Systems

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Commvault Systems by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 5,636,559 shares of the software maker’s stock valued at $850,613,000 after purchasing an additional 54,562 shares in the last quarter. Renaissance Technologies LLC raised 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 buying an additional 24,900 shares during the period. Invesco Ltd. lifted its position in shares of Commvault Systems by 57.7% during the 4th quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker’s stock valued at $250,527,000 after buying an additional 607,643 shares in the last quarter. State Street Corp grew its stake in shares of Commvault Systems by 1.6% during the 3rd 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 during the period. Finally, Geode Capital Management LLC increased its holdings in 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 acquiring an additional 43,088 shares in the last quarter. Institutional investors 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.