Commvault Systems (NASDAQ:CVLT) Price Target Raised to $140.00

Commvault Systems (NASDAQ:CVLTFree Report) had its target price boosted by Wells Fargo & Company from $125.00 to $140.00 in a report issued on Thursday morning, Benzinga reports. They currently have an overweight rating on the software maker’s stock.

Several other research analysts have also commented on the company. Lake Street Capital boosted their price objective on Commvault Systems from $86.00 to $98.00 and gave the stock a hold rating in a report on Wednesday, May 1st. KeyCorp increased their price target on shares of Commvault Systems from $109.00 to $122.00 and gave the stock an overweight rating in a report on Wednesday, May 1st. DA Davidson raised their price objective on shares of Commvault Systems from $115.00 to $125.00 and gave the company a buy rating in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada upped their target price on shares of Commvault Systems from $97.00 to $112.00 and gave the stock a sector perform rating in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $119.40.

Get Our Latest Analysis on CVLT

Commvault Systems Stock Performance

NASDAQ:CVLT opened at $111.24 on Thursday. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 29.59 and a beta of 0.64. The stock has a fifty day moving average of $101.07 and a 200 day moving average of $88.06. Commvault Systems has a 52-week low of $63.70 and a 52-week high of $113.37.

Insider Transactions at Commvault Systems

In related news, CFO Gary Merrill sold 822 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $97.25, for a total transaction of $79,939.50. Following the transaction, the chief financial officer now owns 87,945 shares of the company’s stock, valued at approximately $8,552,651.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Gary Merrill sold 822 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $97.25, for a total transaction of $79,939.50. Following the completion of the sale, the chief financial officer now directly owns 87,945 shares in the company, valued at approximately $8,552,651.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjay Mirchandani sold 21,494 shares of Commvault Systems stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $97.82, for a total value of $2,102,543.08. Following the completion of the transaction, the chief executive officer now directly owns 399,356 shares in the company, valued at $39,065,003.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,821 shares of company stock worth $4,982,793. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Commvault Systems

Large investors have recently added to or reduced their stakes in the company. Amalgamated Bank boosted its holdings in shares of Commvault Systems by 0.6% during the fourth quarter. Amalgamated Bank now owns 27,504 shares of the software maker’s stock worth $2,196,000 after purchasing an additional 160 shares during the period. State of Michigan Retirement System lifted its holdings in Commvault Systems by 1.9% in the 1st quarter. State of Michigan Retirement System now owns 10,712 shares of the software maker’s stock worth $1,087,000 after buying an additional 200 shares during the period. M&T Bank Corp grew its position in shares of Commvault Systems by 5.4% in the 4th quarter. M&T Bank Corp now owns 4,647 shares of the software maker’s stock worth $371,000 after buying an additional 240 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Commvault Systems by 2.4% during the first quarter. Louisiana State Employees Retirement System now owns 12,600 shares of the software maker’s stock valued at $1,278,000 after buying an additional 300 shares during the period. Finally, Quantedge Capital Pte Ltd raised its holdings in shares of Commvault Systems by 0.6% during the fourth quarter. Quantedge Capital Pte Ltd now owns 53,800 shares of the software maker’s stock valued at $4,296,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

About Commvault Systems

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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.

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