Piper Sandler Issues Pessimistic Forecast for Commvault Systems (NASDAQ:CVLT) Stock Price

Commvault Systems (NASDAQ:CVLT) had its price target decreased by Piper Sandler from $154.00 to $147.00 in a report released on Tuesday,Benzinga reports. Piper Sandler currently has a neutral rating on the software maker’s stock.

CVLT has been the subject of a number of other research reports. StockNews.com raised shares of Commvault Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Cantor Fitzgerald increased their price target on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research note 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, KeyCorp boosted their target price on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $159.11.

Commvault Systems Stock Performance

CVLT stock opened at $151.39 on Tuesday. Commvault Systems has a one year low of $93.48 and a one year high of $190.11. The firm has a market cap of $6.66 billion, a price-to-earnings ratio of 39.74 and a beta of 0.68. The firm has a 50-day simple moving average of $164.84 and a two-hundred day simple moving average of $161.65.

Insider Transactions at Commvault Systems

In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of Commvault Systems 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 completion of the transaction, the insider now owns 87,316 shares of the company’s stock, valued at approximately $16,322,853.04. The trade was a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total value of $2,290,655.28. Following the sale, the chief executive officer now owns 427,231 shares in the company, valued at $79,447,876.76. This trade represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Benjamin Edwards Inc. purchased a new stake in Commvault Systems in the 3rd quarter worth $268,000. HighTower Advisors LLC grew its position in shares of Commvault Systems by 478.1% in the third quarter. HighTower Advisors LLC now owns 13,238 shares of the software maker’s stock valued at $2,032,000 after purchasing an additional 10,948 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Commvault Systems during the third quarter worth about $354,000. Point72 DIFC Ltd acquired a new position in shares of Commvault Systems during the 3rd quarter worth about $71,000. Finally, Stifel Financial Corp lifted its stake in Commvault Systems by 27.2% in the 3rd quarter. Stifel Financial Corp now owns 6,753 shares of the software maker’s stock valued at $1,039,000 after buying an additional 1,445 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Commvault Systems Company Profile

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.