Commvault Systems (NASDAQ:CVLT) PT Raised to $140.00 at KeyCorp

Commvault Systems (NASDAQ:CVLT) had its price target hoisted by investment analysts at KeyCorp from $122.00 to $140.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the software maker’s stock. KeyCorp’s price objective points to a potential upside of 15.06% from the company’s current price.

CVLT has been the subject of several other research reports. Guggenheim restated a “buy” rating and set a $122.00 target price on shares of Commvault Systems in a research note on Tuesday, June 25th. Royal Bank of Canada boosted their target price on Commvault Systems from $97.00 to $112.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 1st. Wells Fargo & Company boosted their target price on Commvault Systems from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. DA Davidson boosted their target price on Commvault Systems from $125.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Finally, Lake Street Capital boosted their target price on Commvault Systems from $86.00 to $98.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $124.50.

Commvault Systems Stock Performance

Shares of CVLT opened at $121.68 on Tuesday. The stock has a 50-day simple moving average of $111.19 and a 200-day simple moving average of $97.64. The stock has a market capitalization of $5.33 billion, a PE ratio of 32.36 and a beta of 0.61. Commvault Systems has a 1 year low of $63.70 and a 1 year high of $122.16.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.10. The business had revenue of $223.29 million during the quarter, compared to analysts’ expectations of $213.00 million. Commvault Systems had a return on equity of 31.27% and a net margin of 20.13%. Analysts predict that Commvault Systems will post 1.7 EPS for the current year.

Insider Buying and Selling

In related news, CEO Sanjay Mirchandani sold 15,975 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $110.20, for a total transaction of $1,760,445.00. Following the transaction, the chief executive officer now owns 539,465 shares of the company’s stock, valued at $59,449,043. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Commvault Systems news, CEO Sanjay Mirchandani sold 15,975 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $110.20, for a total transaction of $1,760,445.00. Following the sale, the chief executive officer now directly owns 539,465 shares in the company, valued at $59,449,043. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Vivie Lee sold 2,500 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $112.19, for a total value of $280,475.00. Following the sale, the director now owns 13,589 shares in the company, valued at $1,524,549.91. The disclosure for this sale can be found here. Insiders have sold 59,816 shares of company stock valued at $6,613,874 over the last quarter. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

A number of institutional investors have recently bought and sold shares of CVLT. PNC Financial Services Group Inc. boosted its position in Commvault Systems by 28.5% during the third quarter. PNC Financial Services Group Inc. now owns 1,429 shares of the software maker’s stock worth $97,000 after purchasing an additional 317 shares in the last quarter. FMR LLC lifted its position in shares of Commvault Systems by 4.2% in the third quarter. FMR LLC now owns 176,503 shares of the software maker’s stock valued at $11,933,000 after acquiring an additional 7,097 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Commvault Systems by 22.2% in the third quarter. O Shaughnessy Asset Management LLC now owns 4,727 shares of the software maker’s stock valued at $320,000 after acquiring an additional 860 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Commvault Systems in the third quarter valued at $2,974,000. Finally, Teza Capital Management LLC purchased a new stake in shares of Commvault Systems in the third quarter valued at $253,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

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.