Commvault Systems (NASDAQ:CVLT) Upgraded at StockNews.com

Commvault Systems (NASDAQ:CVLT) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada upped their price target on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Oppenheimer began coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 target price on the stock. KeyCorp increased 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. Finally, William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.44.

Commvault Systems Stock Down 0.5 %

CVLT opened at $169.81 on Tuesday. Commvault Systems has a 52 week low of $93.48 and a 52 week high of $190.11. The business has a 50 day moving average price of $163.99 and a two-hundred day moving average price of $159.53. The company has a market cap of $7.47 billion, a PE ratio of 44.57 and a beta of 0.65.

Insider Transactions at Commvault Systems

In related news, CEO Sanjay Mirchandani sold 12,318 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 427,231 shares in the company, valued at $79,447,876.76. This represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were 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 of the company’s stock, valued at $1,017,577.50. This represents a 17.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,837 shares of company stock valued at $3,117,647. Insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

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

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.