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

Shares of Commvault Systems, Inc. (NASDAQ:CVLT) have earned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $156.44.

A number of analysts have recently weighed in on the stock. Guggenheim reiterated a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. Cantor Fitzgerald increased 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. Royal Bank of Canada boosted their target price on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. KeyCorp raised their price target on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, William Blair raised shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th.

Insider Buying and Selling

In other news, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems 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 completion of the transaction, the chief executive officer now directly owns 427,231 shares in the company, valued at approximately $79,447,876.76. This trade represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $172.50, for a total value of $212,520.00. Following the completion of the sale, the director now owns 5,899 shares in the company, valued at $1,017,577.50. The trade was a 17.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,837 shares of company stock valued at $3,117,647 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CVLT. Invesco Ltd. raised its position in shares of Commvault Systems by 57.7% in the 4th quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker’s stock worth $250,527,000 after purchasing an additional 607,643 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Commvault Systems by 604.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker’s stock valued at $98,479,000 after buying an additional 555,656 shares during the last quarter. Norges Bank purchased a new position in Commvault Systems in the 4th quarter worth approximately $79,619,000. Summit Partners Public Asset Management LLC bought a new position in Commvault Systems in the 3rd quarter valued at approximately $67,722,000. Finally, Polar Capital Holdings Plc increased its holdings in shares of Commvault Systems by 182.5% in the 4th quarter. Polar Capital Holdings Plc now owns 362,958 shares of the software maker’s stock worth $54,774,000 after purchasing an additional 234,477 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Commvault Systems Stock Down 7.7 %

Shares of CVLT opened at $170.61 on Friday. The stock has a market capitalization of $7.51 billion, a P/E ratio of 44.78 and a beta of 0.65. Commvault Systems has a twelve month low of $92.36 and a twelve month high of $190.11. The firm has a fifty day simple moving average of $163.97 and a two-hundred day simple moving average of $158.89.

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.