Commvault Systems (NASDAQ:CVLT) Rating Increased to Buy at StockNews.com

Commvault Systems (NASDAQ:CVLT) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Other analysts also recently issued reports about the company. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. Oppenheimer initiated coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target for the company. Cantor Fitzgerald increased their price objective on shares of 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 raised shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada upped their target price on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Commvault Systems has a consensus rating of “Moderate Buy” and an average target price of $156.44.

Commvault Systems Stock Down 0.5 %

Shares of NASDAQ CVLT opened at $169.81 on Tuesday. Commvault Systems has a twelve month low of $93.48 and a twelve month high of $190.11. The firm has a market cap of $7.47 billion, a PE ratio of 44.57 and a beta of 0.65. The business has a fifty day simple moving average of $163.99 and a two-hundred day simple moving average of $159.53.

Insider Activity

In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of the firm’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 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 $16,322,853.04. This trade represents a 3.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 427,231 shares of the company’s stock, 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. In the last three months, insiders have sold 16,837 shares of company stock valued at $3,117,647. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Commvault Systems

Large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its holdings in Commvault Systems by 25.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock valued at $90,278,000 after purchasing an additional 120,779 shares in the last quarter. Summit Partners Public Asset Management LLC purchased a new stake in shares of Commvault Systems during the 3rd quarter worth approximately $67,722,000. Point72 Hong Kong Ltd boosted its holdings in shares of Commvault Systems by 37.9% in the 3rd quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker’s stock valued at $3,603,000 after buying an additional 6,433 shares in the last quarter. Raymond James & Associates grew its position in shares of Commvault Systems by 58.1% in the 3rd quarter. Raymond James & Associates now owns 15,410 shares of the software maker’s stock valued at $2,371,000 after buying an additional 5,661 shares during the last quarter. Finally, Intech Investment Management LLC raised its stake in Commvault Systems by 31.8% during the 3rd quarter. Intech Investment Management LLC now owns 24,074 shares of the software maker’s stock worth $3,704,000 after acquiring an additional 5,805 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.