Commvault Systems (NASDAQ:CVLT) Price Target Cut to $185.00 by Analysts at KeyCorp

Commvault Systems (NASDAQ:CVLT) had its price target decreased by KeyCorp from $195.00 to $185.00 in a report published on Thursday,Benzinga reports. KeyCorp currently has an overweight rating on the software maker’s stock.

CVLT has been the subject of several other reports. Cantor Fitzgerald raised their price objective 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. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. StockNews.com upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Finally, Piper Sandler cut their price target on Commvault Systems from $154.00 to $147.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.00.

Commvault Systems Trading Down 0.9 %

Shares of NASDAQ CVLT opened at $149.74 on Thursday. The firm has a fifty day simple moving average of $162.75 and a two-hundred day simple moving average of $161.57. Commvault Systems has a 12 month low of $93.48 and a 12 month high of $190.11. The firm has a market capitalization of $6.59 billion, a PE ratio of 39.30 and a beta of 0.68.

Insider Activity at Commvault Systems

In other news, insider Gary Merrill sold 3,287 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 87,316 shares in the company, valued at $16,322,853.04. The trade was a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the stock in a transaction on Wednesday, February 19th. The shares were 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 directly owns 427,231 shares in the company, 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. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Commvault Systems

A number of large investors have recently made changes to their positions in CVLT. Vanguard Group Inc. lifted its position in Commvault Systems by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 5,636,559 shares of the software maker’s stock valued at $850,613,000 after purchasing an additional 54,562 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Commvault Systems by 1.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,909,185 shares of the software maker’s stock valued at $288,115,000 after buying an additional 24,900 shares during the period. Invesco Ltd. boosted 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 worth $250,527,000 after buying an additional 607,643 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Commvault Systems by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 1,288,068 shares of the software maker’s stock worth $194,681,000 after buying an additional 43,088 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Commvault Systems by 9.8% in the fourth quarter. Northern Trust Corp now owns 651,973 shares of the software maker’s stock worth $98,389,000 after acquiring an additional 58,239 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.