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

Commvault Systems, Inc. (NASDAQ:CVLT) has been assigned an average rating of “Moderate Buy” from the ten ratings firms that are covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $156.44.

Several equities analysts recently weighed in on the company. William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. StockNews.com upgraded Commvault Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Cantor Fitzgerald boosted their price objective on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. Finally, KeyCorp boosted their price target on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th.

Commvault Systems Stock Performance

CVLT opened at $161.09 on Wednesday. Commvault Systems has a fifty-two week low of $93.48 and a fifty-two week high of $190.11. The company has a fifty day moving average of $165.38 and a two-hundred day moving average of $160.64. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of 42.28 and a beta of 0.62.

Insider Buying and Selling

In other news, insider Gary Merrill sold 3,287 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value of $614,471.78. Following the completion of the sale, the insider now directly owns 87,316 shares in the company, valued at $16,322,853.04. This represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 427,231 shares of the company’s stock, 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. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Commvault Systems

Several large investors have recently added to or reduced their stakes in CVLT. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Commvault Systems by 26.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,082 shares of the software maker’s stock valued at $616,000 after purchasing an additional 856 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Commvault Systems in the 4th quarter valued at approximately $14,814,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Commvault Systems by 20.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,710 shares of the software maker’s stock valued at $20,480,000 after buying an additional 23,176 shares during the period. Vident Advisory LLC grew its position in Commvault Systems by 14.6% in the fourth quarter. Vident Advisory LLC now owns 27,016 shares of the software maker’s stock worth $4,077,000 after acquiring an additional 3,446 shares during the period. Finally, Sherbrooke Park Advisers LLC purchased a new position in Commvault Systems in the fourth quarter worth approximately $280,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

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.