Commvault Systems (NASDAQ:CVLT) Given New $147.00 Price Target at Piper Sandler

Commvault Systems (NASDAQ:CVLT) had its price objective reduced by Piper Sandler from $154.00 to $147.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the software maker’s stock.

A number of other research firms also recently commented on CVLT. KeyCorp lifted their price target on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. StockNews.com raised shares of Commvault Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. William Blair raised shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Cantor Fitzgerald increased their price objective on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Guggenheim restated a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $159.11.

Commvault Systems Stock Down 1.1 %

Shares of NASDAQ CVLT opened at $140.51 on Tuesday. Commvault Systems has a fifty-two week low of $93.48 and a fifty-two week high of $190.11. The firm has a market cap of $6.18 billion, a PE ratio of 36.88 and a beta of 0.68. The business has a 50 day moving average price of $165.03 and a two-hundred day moving average price of $161.66.

Insider Buying and Selling

In related news, insider Gary Merrill sold 3,287 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $614,471.78. Following the transaction, the insider now owns 87,316 shares in the company, valued at $16,322,853.04. This trade represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of the company’s stock in a transaction that occurred on 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 owns 427,231 shares of the company’s stock, valued at $79,447,876.76. This trade represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

Institutional investors have recently modified their holdings of the company. Benjamin Edwards Inc. raised its position in Commvault Systems by 3.3% in the fourth quarter. Benjamin Edwards Inc. now owns 1,803 shares of the software maker’s stock worth $272,000 after acquiring an additional 58 shares in the last quarter. Hancock Whitney Corp boosted its holdings in Commvault Systems by 1.0% during the fourth quarter. Hancock Whitney Corp now owns 5,781 shares of the software maker’s stock worth $872,000 after buying an additional 60 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Commvault Systems by 3.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker’s stock worth $296,000 after buying an additional 66 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Commvault Systems by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker’s stock valued at $213,000 after buying an additional 75 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Commvault Systems by 4.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,439 shares of the software maker’s stock valued at $368,000 after acquiring an additional 93 shares during the last quarter. Institutional investors and hedge funds 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.