Commvault Systems (NASDAQ:CVLT) Upgraded by StockNews.com to “Buy” Rating

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

CVLT has been the subject of a number of other research reports. Royal Bank of Canada boosted their price objective on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Cantor Fitzgerald lifted their price target on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. KeyCorp increased their price objective on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $156.44.

Commvault Systems Price Performance

Shares of Commvault Systems stock opened at $168.63 on Tuesday. The business has a 50-day moving average of $164.30 and a 200-day moving average of $159.74. The company has a market capitalization 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.

Insider Buying and Selling

In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of Commvault Systems 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 transaction, the insider now owns 87,316 shares in the company, 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 SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Mirchandani sold 12,318 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 427,231 shares in the company, valued at $79,447,876.76. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Commvault Systems by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,636,559 shares of the software maker’s stock valued at $850,613,000 after acquiring an additional 54,562 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Commvault Systems by 1.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,909,185 shares of the software maker’s stock valued at $288,115,000 after purchasing an additional 24,900 shares in the last quarter. Invesco Ltd. boosted its position in shares of Commvault Systems by 57.7% in the fourth quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker’s stock worth $250,527,000 after buying an additional 607,643 shares during the period. State Street Corp grew its holdings in shares of Commvault Systems by 1.6% during the third quarter. State Street Corp now owns 1,594,045 shares of the software maker’s stock valued at $245,244,000 after buying an additional 25,082 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Commvault Systems by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 1,288,068 shares of the software maker’s stock valued at $194,681,000 after buying an additional 43,088 shares during the period. 93.50% of the stock is currently 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.