Gary Merrill Sells 3,287 Shares of Commvault Systems, Inc. (NASDAQ:CVLT) Stock

Commvault Systems, Inc. (NASDAQ:CVLT) insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $614,471.78. Following the transaction, the insider now owns 87,316 shares of the company’s stock, valued at $16,322,853.04. This represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Commvault Systems Price Performance

Shares of CVLT opened at $170.61 on Friday. Commvault Systems, Inc. has a 1 year low of $92.36 and a 1 year high of $190.11. The stock’s fifty day moving average price is $164.01 and its two-hundred day moving average price is $159.26. The firm has a market cap of $7.51 billion, a PE ratio of 44.78 and a beta of 0.65.

Institutional Investors Weigh In On Commvault Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in Commvault Systems by 25.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock valued at $90,278,000 after acquiring an additional 120,779 shares during the period. Summit Partners Public Asset Management LLC bought a new stake in Commvault Systems in the 3rd quarter valued at about $67,722,000. Point72 Hong Kong Ltd raised its stake in Commvault Systems by 37.9% in the 3rd quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker’s stock valued at $3,603,000 after acquiring an additional 6,433 shares during the period. Raymond James & Associates raised its stake in Commvault Systems by 58.1% in the 3rd quarter. Raymond James & Associates now owns 15,410 shares of the software maker’s stock valued at $2,371,000 after acquiring an additional 5,661 shares during the period. Finally, Intech Investment Management LLC raised its stake in Commvault Systems by 31.8% in the 3rd quarter. Intech Investment Management LLC now owns 24,074 shares of the software maker’s stock valued at $3,704,000 after acquiring an additional 5,805 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CVLT. Cantor Fitzgerald boosted their price target 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. KeyCorp boosted their price target on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada boosted their price target on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Finally, Guggenheim restated a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Commvault Systems currently has an average rating of “Hold” and a consensus target price of $156.44.

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.