Analysts Set Commvault Systems, Inc. (NASDAQ:CVLT) PT at $156.44

Commvault Systems, Inc. (NASDAQ:CVLT) has been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $159.11.

CVLT has been the topic of a number of recent research reports. Guggenheim reiterated a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. StockNews.com raised Commvault Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Cantor Fitzgerald raised their price objective on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Piper Sandler reduced their target price 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. Finally, KeyCorp boosted their target price on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th.

Insider Activity

In other news, insider Gary Merrill sold 3,287 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value of $614,471.78. Following 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 427,231 shares in the company, valued at approximately $79,447,876.76. The trade was 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.

Hedge Funds Weigh In On Commvault Systems

Several large investors have recently added to or reduced their stakes in CVLT. Quarry LP lifted its stake in Commvault Systems by 888.2% in the 4th quarter. Quarry LP now owns 168 shares of the software maker’s stock worth $25,000 after purchasing an additional 151 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Commvault Systems by 208.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 185 shares of the software maker’s stock worth $29,000 after buying an additional 125 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Commvault Systems by 183.7% in the first 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. Point72 Asia Singapore Pte. Ltd. boosted its stake in Commvault Systems by 409.0% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 341 shares of the software maker’s stock valued at $51,000 after buying an additional 274 shares during the last quarter. Finally, TFC Financial Management Inc. grew its holdings in Commvault Systems by 294.1% during the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock valued at $61,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Commvault Systems Stock Performance

Shares of NASDAQ CVLT opened at $140.51 on Friday. The firm has a 50 day moving average price of $165.03 and a two-hundred day moving average price of $161.66. The stock has a market cap of $6.18 billion, a P/E ratio of 36.88 and a beta of 0.68. Commvault Systems has a 52-week low of $93.48 and a 52-week high of $190.11.

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.