Commvault Systems (NASDAQ:CVLT) Cut to Hold at StockNews.com

StockNews.com lowered shares of Commvault Systems (NASDAQ:CVLT) from a buy rating to a hold rating in a report issued on Monday.

Other research analysts also recently issued reports about the stock. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. Guggenheim reiterated a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, January 29th. Cantor Fitzgerald upped their price objective on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. KeyCorp lifted their target price on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Oppenheimer assumed coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price target on the stock. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $156.44.

Commvault Systems Stock Down 1.0 %

Shares of CVLT opened at $186.02 on Monday. The firm has a market cap of $8.18 billion, a price-to-earnings ratio of 48.82 and a beta of 0.65. The business’s 50 day moving average is $163.73 and its two-hundred day moving average is $158.71. Commvault Systems has a 52-week low of $90.32 and a 52-week high of $190.11.

Insider Activity at Commvault Systems

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction of $212,520.00. Following the transaction, the director now owns 5,899 shares of the company’s stock, valued at approximately $1,017,577.50. This trade represents a 17.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CVLT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Commvault Systems by 20.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,710 shares of the software maker’s stock worth $20,480,000 after purchasing an additional 23,176 shares during the period. Vident Advisory LLC lifted its holdings in shares of Commvault Systems by 14.6% in the fourth quarter. Vident Advisory LLC now owns 27,016 shares of the software maker’s stock valued at $4,077,000 after buying an additional 3,446 shares during the period. Sherbrooke Park Advisers LLC acquired a new stake in shares of Commvault Systems in the fourth quarter valued at $280,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in Commvault Systems by 409.0% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 341 shares of the software maker’s stock valued at $51,000 after buying an additional 274 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in Commvault Systems by 278.3% during the fourth quarter. Point72 Asset Management L.P. now owns 8,700 shares of the software maker’s stock worth $1,313,000 after acquiring an additional 6,400 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.