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

Shares of Commvault Systems, Inc. (NASDAQ:CVLT) have received a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $156.44.

CVLT has been the topic of a number of recent analyst reports. StockNews.com lowered Commvault Systems from a “buy” rating to a “hold” rating in a report on Monday. Cantor Fitzgerald lifted their price objective on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. KeyCorp boosted their target price on shares of Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. Finally, Royal Bank of Canada upped their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th.

Insider Transactions at Commvault Systems

In related news, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $172.50, for a total value of $212,520.00. Following the transaction, the director now owns 5,899 shares in the company, valued at approximately $1,017,577.50. The trade was a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in CVLT. Charles Schwab Investment Management Inc. grew its position in shares of Commvault Systems by 25.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after acquiring an additional 120,779 shares in the last quarter. Summit Partners Public Asset Management LLC acquired a new stake in Commvault Systems in the 3rd quarter valued at approximately $67,722,000. Vontobel Holding Ltd. bought a new stake in shares of Commvault Systems during the third quarter valued at about $1,126,000. Point72 Hong Kong Ltd raised its position in shares of Commvault Systems by 37.9% during the 3rd quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker’s stock worth $3,603,000 after buying an additional 6,433 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in Commvault Systems by 58.1% during the third quarter. Raymond James & Associates now owns 15,410 shares of the software maker’s stock worth $2,371,000 after purchasing an additional 5,661 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Commvault Systems Stock Performance

Shares of Commvault Systems stock opened at $184.91 on Friday. Commvault Systems has a one year low of $90.32 and a one year high of $186.52. The firm has a fifty day moving average of $163.18 and a two-hundred day moving average of $158.15. The company has a market cap of $8.14 billion, a P/E ratio of 48.53 and a beta of 0.65.

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.