Commvault Systems, Inc. (NASDAQ:CVLT) Receives Average Rating of “Moderate Buy” from Brokerages

Commvault Systems, Inc. (NASDAQ:CVLT) has earned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $134.29.

CVLT has been the subject of a number of research reports. Royal Bank of Canada raised their price objective on Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Wednesday. KeyCorp boosted their price objective on shares of Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday. Wells Fargo & Company increased their target price on shares of Commvault Systems from $125.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Lake Street Capital boosted their price target on shares of Commvault Systems from $86.00 to $98.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Finally, DA Davidson increased their price objective on Commvault Systems from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, June 14th.

Commvault Systems Price Performance

CVLT stock opened at $136.68 on Tuesday. The company’s 50 day simple moving average is $121.03 and its 200-day simple moving average is $105.72. Commvault Systems has a 52-week low of $63.70 and a 52-week high of $155.33. The firm has a market capitalization of $5.97 billion, a P/E ratio of 36.35 and a beta of 0.61.

Commvault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, July 30th. The software maker reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.12. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The company had revenue of $224.67 million during the quarter, compared to analyst estimates of $215.54 million. During the same quarter in the prior year, the company earned $0.29 earnings per share. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. Sell-side analysts predict that Commvault Systems will post 1.71 EPS for the current fiscal year.

Insider Activity at Commvault Systems

In other news, CEO Sanjay Mirchandani sold 17,949 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $110.63, for a total transaction of $1,985,697.87. Following the completion of the sale, the chief executive officer now owns 514,383 shares in the company, valued at approximately $56,906,191.29. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Commvault Systems news, Director Charles E. Moran sold 11,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $110.83, for a total transaction of $1,219,130.00. Following the completion of the sale, the director now directly owns 10,967 shares in the company, valued at $1,215,472.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sanjay Mirchandani sold 17,949 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $110.63, for a total value of $1,985,697.87. Following the transaction, the chief executive officer now directly owns 514,383 shares of the company’s stock, valued at approximately $56,906,191.29. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,816 shares of company stock valued at $6,613,874. Insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ontario Teachers Pension Plan Board boosted its position in shares of Commvault Systems by 23.4% in the first quarter. Ontario Teachers Pension Plan Board now owns 25,770 shares of the software maker’s stock valued at $2,614,000 after acquiring an additional 4,888 shares during the period. Jump Financial LLC bought a new stake in Commvault Systems in the 4th quarter valued at $3,298,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Commvault Systems in the 1st quarter worth $595,000. Los Angeles Capital Management LLC acquired a new stake in Commvault Systems in the 4th quarter worth $1,110,000. Finally, BOKF NA increased its holdings in shares of Commvault Systems by 55.3% during the 1st quarter. BOKF NA now owns 3,119 shares of the software maker’s stock worth $313,000 after purchasing an additional 1,110 shares during the period. 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.