Commvault Systems, Inc. (NASDAQ:CVLT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Commvault Systems, Inc. (NASDAQ:CVLT) have received an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $156.44.

Several research analysts recently commented on CVLT shares. Oppenheimer started coverage on Commvault Systems in a research note on Wednesday, November 13th. They set an “outperform” rating and a $200.00 target price for the company. KeyCorp lifted their price target on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Cantor Fitzgerald lifted their price target on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. StockNews.com downgraded Commvault Systems from a “buy” rating to a “hold” rating in a report on Monday. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $172.50, for a total transaction 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Commvault Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVLT. Invesco Ltd. increased its position in Commvault Systems by 57.7% during the 4th quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker’s stock worth $250,527,000 after purchasing an additional 607,643 shares during the period. Allspring Global Investments Holdings LLC increased its position in Commvault Systems by 604.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker’s stock worth $98,479,000 after purchasing an additional 555,656 shares during the period. Norges Bank acquired a new position in Commvault Systems during the 4th quarter worth approximately $79,619,000. Summit Partners Public Asset Management LLC acquired a new position in Commvault Systems during the 3rd quarter worth approximately $67,722,000. Finally, Polar Capital Holdings Plc increased its position in Commvault Systems by 182.5% during the 4th quarter. Polar Capital Holdings Plc now owns 362,958 shares of the software maker’s stock worth $54,774,000 after purchasing an additional 234,477 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Commvault Systems Price Performance

CVLT opened at $186.02 on Friday. Commvault Systems has a 12 month low of $90.32 and a 12 month high of $190.11. The stock has a market capitalization of $8.18 billion, a price-to-earnings ratio of 48.82 and a beta of 0.65. The business has a fifty day moving average price of $163.73 and a 200 day moving average price of $158.71.

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.