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

CommVault Systems, Inc. (NASDAQ:CVLT) has earned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $205.6250.

Several equities analysts have recently commented on CVLT shares. Wall Street Zen lowered CommVault Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Oppenheimer raised their price target on CommVault Systems from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Piper Sandler raised their price target on CommVault Systems from $168.00 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. Guggenheim set a $220.00 price target on CommVault Systems in a research report on Tuesday, July 29th. Finally, Royal Bank Of Canada raised their price target on CommVault Systems from $185.00 to $217.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 30th.

CommVault Systems Trading Down 1.2%

Shares of CommVault Systems stock opened at $183.53 on Friday. The firm has a market capitalization of $8.16 billion, a PE ratio of 101.96 and a beta of 0.70. The business’s 50-day moving average price is $177.71 and its 200-day moving average price is $169.76. CommVault Systems has a 12 month low of $128.07 and a 12 month high of $200.68.

Insider Buying and Selling

In other news, CEO Sanjay Mirchandani sold 1,709 shares of CommVault Systems stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $299,075.00. Following the sale, the chief executive officer directly owned 469,648 shares in the company, valued at approximately $82,188,400. This trade represents a 0.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary Merrill sold 1,748 shares of CommVault Systems stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $174.91, for a total value of $305,742.68. Following the completion of the sale, the insider owned 89,923 shares in the company, valued at approximately $15,728,431.93. This represents a 1.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CommVault Systems

A number of large investors have recently made changes to their positions in CVLT. Nuveen LLC bought a new stake in shares of CommVault Systems in the 1st quarter worth approximately $116,223,000. Invesco Ltd. lifted its stake in shares of CommVault Systems by 57.7% in the 4th 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 period. Wedge Capital Management L L P NC lifted its stake in shares of CommVault Systems by 1,936.0% in the 1st quarter. Wedge Capital Management L L P NC now owns 360,355 shares of the software maker’s stock valued at $56,850,000 after purchasing an additional 342,656 shares during the period. Champlain Investment Partners LLC purchased a new position in shares of CommVault Systems in the 1st quarter valued at approximately $47,361,000. Finally, Polar Capital Holdings Plc lifted its stake in shares of CommVault Systems by 182.5% in the 4th quarter. Polar Capital Holdings Plc now owns 362,958 shares of the software maker’s stock valued at $54,774,000 after purchasing an additional 234,477 shares during the period. 93.50% of the stock is currently owned by institutional investors.

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.