Commvault Systems (NASDAQ:CVLT) Upgraded at StockNews.com

StockNews.com upgraded shares of Commvault Systems (NASDAQ:CVLT) from a hold rating to a buy rating in a research note released on Tuesday morning.

Several other research analysts have also recently issued reports on the stock. Cantor Fitzgerald raised their target price on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Royal Bank of Canada boosted their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. William Blair raised Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. KeyCorp upped their price target on Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Oppenheimer assumed coverage on Commvault Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price objective on the stock. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.44.

Commvault Systems Trading Down 1.9 %

NASDAQ CVLT opened at $168.63 on Tuesday. The firm has a market cap of $7.42 billion, a PE ratio of 44.26 and a beta of 0.65. Commvault Systems has a 1-year low of $93.48 and a 1-year high of $190.11. The stock has a 50-day moving average of $164.30 and a 200-day moving average of $159.74.

Insider Buying and Selling

In other news, 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 value of $2,290,655.28. Following the sale, the chief executive officer now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gary Merrill sold 3,287 shares of the business’s stock in a transaction dated 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 trade represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CVLT. Quarry LP raised its position in shares of Commvault Systems by 888.2% in the 4th quarter. Quarry LP now owns 168 shares of the software maker’s stock valued at $25,000 after purchasing an additional 151 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Commvault Systems during the third quarter worth about $33,000. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Commvault Systems by 409.0% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 341 shares of the software maker’s stock worth $51,000 after purchasing an additional 274 shares in the last quarter. TFC Financial Management Inc. raised its holdings in Commvault Systems by 294.1% in the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock valued at $61,000 after acquiring an additional 300 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new position in shares of Commvault Systems during the 3rd quarter worth $71,000. 93.50% of the stock is owned by institutional investors.

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.