CommVault Systems, Inc. (NASDAQ:CVLT) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• CommVault Systems, Inc. has received an average rating of "Moderate Buy" from analysts, with six recommending a buy and three suggesting a hold.
• The average twelve-month price target for CommVault shares is $205.63, reflecting analyst confidence in the stock's potential growth.
• Insider trading activity includes CEO Sanjay Mirchandani selling over 1,700 shares, indicating a 0.36% decrease in his ownership stake.

Shares of CommVault Systems, Inc. (NASDAQ:CVLT - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the nine brokerages that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $205.6250.

CVLT has been the topic of a number of recent research reports. Guggenheim set a $220.00 target price on CommVault Systems in a research note on Tuesday, July 29th. Royal Bank Of Canada lifted their price target on CommVault Systems from $185.00 to $217.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. Wells Fargo & Company raised their price objective on CommVault Systems from $190.00 to $220.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Piper Sandler raised their price objective on CommVault Systems from $168.00 to $170.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Finally, Oppenheimer lifted their target price on CommVault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th.

CommVault Systems Trading Up 3.2%

Shares of CVLT traded up $5.96 during mid-day trading on Friday, reaching $191.60. The company's stock had a trading volume of 464,620 shares, compared to its average volume of 495,928. CommVault Systems has a 1-year low of $128.07 and a 1-year high of $200.68. The stock has a market cap of $8.52 billion, a P/E ratio of 106.44 and a beta of 0.70. The business has a 50-day simple moving average of $177.68 and a two-hundred day simple moving average of $170.05.

Insider Transactions at CommVault Systems

In related news, insider Gary Merrill sold 1,748 shares of the business's stock in a transaction dated 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 directly owned 89,923 shares of the company's stock, valued at $15,728,431.93. The trade was a 1.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sanjay Mirchandani sold 1,709 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $299,075.00. Following the completion of the sale, the chief executive officer directly owned 469,648 shares of the company's stock, valued at $82,188,400. The trade was a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Institutional Trading of CommVault Systems

Several institutional investors and hedge funds have recently modified their holdings of CVLT. Resona Asset Management Co. Ltd. purchased a new stake in shares of CommVault Systems in the fourth quarter worth approximately $1,200,000. Wells Fargo & Company MN raised its stake in shares of CommVault Systems by 56.5% in the fourth quarter. Wells Fargo & Company MN now owns 32,998 shares of the software maker's stock worth $4,980,000 after purchasing an additional 11,914 shares during the last quarter. Bank of Montreal Can raised its stake in shares of CommVault Systems by 83.6% in the fourth quarter. Bank of Montreal Can now owns 10,304 shares of the software maker's stock worth $1,555,000 after purchasing an additional 4,691 shares during the last quarter. Invesco Ltd. raised its stake in shares of CommVault Systems by 57.7% in the fourth 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 last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of CommVault Systems in the fourth quarter worth approximately $2,815,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

CommVault Systems Company Profile

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.