KeyCorp Issues Pessimistic Forecast for Commvault Systems (NASDAQ:CVLT) Stock Price

Commvault Systems (NASDAQ:CVLT) had its price objective lowered by KeyCorp from $195.00 to $185.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. KeyCorp’s price target points to a potential upside of 23.55% from the company’s previous close.

A number of other research firms have also issued reports on CVLT. Piper Sandler decreased their target price on Commvault Systems from $154.00 to $147.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Guggenheim reiterated a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, January 29th. StockNews.com upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. Finally, Cantor Fitzgerald boosted their price target on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Commvault Systems has an average rating of “Moderate Buy” and an average price target of $158.00.

Commvault Systems Stock Down 0.9 %

Commvault Systems stock opened at $149.74 on Thursday. Commvault Systems has a 52-week low of $93.48 and a 52-week high of $190.11. The firm has a market cap of $6.59 billion, a PE ratio of 39.30 and a beta of 0.68. The company’s 50 day moving average is $162.17 and its two-hundred day moving average is $161.57.

Insider Activity

In other news, CEO Sanjay Mirchandani sold 12,318 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was 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 directly owns 427,231 shares of the company’s stock, valued at approximately $79,447,876.76. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Merrill sold 3,287 shares of the firm’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 transaction, the insider now owns 87,316 shares in the company, valued at $16,322,853.04. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

Several institutional investors and hedge funds have recently bought and sold shares of the business. Stifel Financial Corp raised its holdings in shares of Commvault Systems by 27.2% in the third quarter. Stifel Financial Corp now owns 6,753 shares of the software maker’s stock valued at $1,039,000 after buying an additional 1,445 shares during the last quarter. Virtu Financial LLC purchased a new stake in Commvault Systems during the 3rd quarter valued at approximately $774,000. Sanctuary Advisors LLC purchased a new stake in Commvault Systems during the 3rd quarter valued at approximately $392,000. Tidal Investments LLC acquired a new stake in Commvault Systems during the 3rd quarter worth approximately $279,000. Finally, GAMMA Investing LLC grew its stake in shares of Commvault Systems by 13.7% in the 4th quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker’s stock valued at $152,000 after purchasing an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.