Commvault Systems (NASDAQ:CVLT) Price Target Raised to $98.00 at Lake Street Capital

Commvault Systems (NASDAQ:CVLT) had its target price increased by Lake Street Capital from $86.00 to $98.00 in a report published on Wednesday morning, Benzinga reports. They currently have a hold rating on the software maker’s stock.

Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada increased their target price on shares of Commvault Systems from $97.00 to $112.00 and gave the company a sector perform rating in a research report on Wednesday. KeyCorp increased their price objective on shares of Commvault Systems from $109.00 to $122.00 and gave the company an overweight rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $114.25.

Commvault Systems Stock Performance

NASDAQ CVLT opened at $107.43 on Wednesday. The business has a fifty day moving average price of $98.47 and a 200 day moving average price of $85.11. The company has a market cap of $4.69 billion, a P/E ratio of 28.57 and a beta of 0.64. Commvault Systems has a one year low of $60.43 and a one year high of $109.25.

Insider Transactions at Commvault Systems

In other news, CFO Gary Merrill sold 822 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $97.25, for a total value of $79,939.50. Following the completion of the sale, the chief financial officer now owns 87,945 shares of the company’s stock, valued at approximately $8,552,651.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Commvault Systems news, Director Allison Pickens sold 990 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $682,624.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Gary Merrill sold 822 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $97.25, for a total transaction of $79,939.50. Following the transaction, the chief financial officer now directly owns 87,945 shares of the company’s stock, valued at approximately $8,552,651.25. The disclosure for this sale can be found here. Insiders have sold a total of 23,306 shares of company stock worth $2,276,265 in the last quarter. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC purchased a new stake in shares of Commvault Systems in the 4th quarter valued at approximately $67,000. Daiwa Securities Group Inc. increased its holdings in Commvault Systems by 700.0% in the first quarter. Daiwa Securities Group Inc. now owns 800 shares of the software maker’s stock valued at $81,000 after buying an additional 700 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Commvault Systems by 28.5% in the third quarter. PNC Financial Services Group Inc. now owns 1,429 shares of the software maker’s stock valued at $97,000 after buying an additional 317 shares in the last quarter. Ulland Investment Advisors LLC purchased a new stake in Commvault Systems during the 1st quarter worth about $180,000. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Commvault Systems during the 1st quarter worth about $187,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.