Commvault Systems (NASDAQ:CVLT) Shares Gap Up - Should You Buy?

Commvault Systems, Inc. (NASDAQ:CVLT - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $165.96, but opened at $172.99. Commvault Systems shares last traded at $167.33, with a volume of 23,152 shares changing hands.

Analyst Ratings Changes

A number of research firms have recently weighed in on CVLT. Cantor Fitzgerald lifted their price target on shares of Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Guggenheim reissued a "neutral" rating on shares of Commvault Systems in a report on Wednesday, April 23rd. KeyCorp decreased their price target on Commvault Systems from $195.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. William Blair raised shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. Finally, Piper Sandler dropped their target price on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Commvault Systems has an average rating of "Moderate Buy" and a consensus target price of $158.00.

Commvault Systems Price Performance

The company has a market capitalization of $7.41 billion, a price-to-earnings ratio of 44.30 and a beta of 0.68. The firm's fifty day moving average price is $158.88 and its 200-day moving average price is $161.67.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, CEO Sanjay Mirchandani sold 12,318 shares of the company'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 sale, the chief executive officer now owns 427,231 shares in the company, valued at approximately $79,447,876.76. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gary Merrill sold 3,287 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total transaction of $614,471.78. Following the sale, the insider now owns 87,316 shares of the company's stock, valued at approximately $16,322,853.04. This trade represents a 3.63 % 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 Investors Weigh In On Commvault Systems

Hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its stake in shares of Commvault Systems by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 122,042 shares of the software maker's stock valued at $19,253,000 after acquiring an additional 1,668 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Commvault Systems by 1.1% during the first quarter. Oregon Public Employees Retirement Fund now owns 8,979 shares of the software maker's stock valued at $1,417,000 after purchasing an additional 100 shares during the period. WCM Investment Management LLC boosted its position in shares of Commvault Systems by 79.6% during the 1st quarter. WCM Investment Management LLC now owns 122,370 shares of the software maker's stock worth $19,821,000 after purchasing an additional 54,226 shares in the last quarter. KBC Group NV boosted its position in shares of Commvault Systems by 13.8% during the 1st quarter. KBC Group NV now owns 2,066 shares of the software maker's stock worth $326,000 after purchasing an additional 250 shares in the last quarter. Finally, Convergence Financial LLC grew its stake in shares of Commvault Systems by 88.5% in the 1st quarter. Convergence Financial LLC now owns 2,616 shares of the software maker's stock valued at $413,000 after buying an additional 1,228 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.

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