Commvault Systems (NASDAQ:CVLT) PT Raised to $140.00 at Wells Fargo & Company

Commvault Systems (NASDAQ:CVLT) had its target price upped by investment analysts at Wells Fargo & Company from $125.00 to $140.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the software maker’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 26.66% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Lake Street Capital raised their target price on Commvault Systems from $86.00 to $98.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Royal Bank of Canada boosted their target price on shares of Commvault Systems from $97.00 to $112.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 1st. KeyCorp boosted their price objective on Commvault Systems from $109.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, DA Davidson increased their target price on Commvault Systems from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Commvault Systems presently has a consensus rating of “Moderate Buy” and an average target price of $119.40.

Commvault Systems Stock Performance

Shares of Commvault Systems stock traded down $1.84 on Thursday, reaching $110.53. 65,520 shares of the stock were exchanged, compared to its average volume of 310,553. The firm has a market cap of $4.83 billion, a PE ratio of 29.52 and a beta of 0.64. The firm’s 50 day moving average is $100.60 and its 200-day moving average is $87.58. Commvault Systems has a one year low of $63.00 and a one year high of $113.37.

Insider Buying and Selling

In related news, Director Allison Pickens sold 990 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $94.73, for a total value of $93,782.70. Following the transaction, the director now owns 7,206 shares in the company, valued at $682,624.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Commvault Systems news, Director Allison Pickens sold 990 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $94.73, for a total transaction of $93,782.70. Following the transaction, the director now directly owns 7,206 shares in the company, valued at approximately $682,624.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjay Mirchandani sold 21,494 shares of Commvault Systems stock in a transaction on Monday, March 4th. The shares were sold at an average price of $97.82, for a total transaction of $2,102,543.08. Following the completion of the sale, the chief executive officer now owns 399,356 shares of the company’s stock, valued at approximately $39,065,003.92. The disclosure for this sale can be found here. Insiders have sold a total of 23,306 shares of company stock valued at $2,276,265 over the last ninety days. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Commvault Systems

A number of hedge funds have recently added to or reduced their stakes in the company. Champlain Investment Partners LLC lifted its holdings in shares of Commvault Systems by 58.5% in the 1st quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker’s stock worth $83,704,000 after purchasing an additional 304,459 shares in the last quarter. Norges Bank bought a new stake in shares of Commvault Systems during the fourth quarter worth about $24,134,000. Acadian Asset Management LLC raised its holdings in shares of Commvault Systems by 16.3% in the 1st quarter. Acadian Asset Management LLC now owns 1,596,635 shares of the software maker’s stock worth $161,914,000 after acquiring an additional 223,347 shares during the last quarter. Invesco Ltd. lifted its position in Commvault Systems by 50.9% in the 3rd quarter. Invesco Ltd. now owns 629,282 shares of the software maker’s stock valued at $42,546,000 after acquiring an additional 212,325 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Commvault Systems by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,426,814 shares of the software maker’s stock valued at $366,907,000 after purchasing an additional 144,625 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.