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

Shares of Commvault Systems, Inc. (NASDAQ:CVLT) have received a consensus recommendation of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $124.50.

Several research analysts recently commented on the stock. Lake Street Capital raised their price target on shares of Commvault Systems from $86.00 to $98.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Guggenheim reaffirmed a “buy” rating and set a $122.00 target price on shares of Commvault Systems in a research report on Tuesday, June 25th. Royal Bank of Canada lifted their price target on shares of Commvault Systems from $97.00 to $112.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 1st. Wells Fargo & Company increased their price objective on Commvault Systems from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. Finally, DA Davidson lifted their target price on Commvault Systems from $125.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, June 14th.

Commvault Systems Price Performance

Shares of NASDAQ:CVLT opened at $125.15 on Friday. The business has a 50 day simple moving average of $112.89 and a two-hundred day simple moving average of $98.36. Commvault Systems has a 1 year low of $63.70 and a 1 year high of $126.93. The firm has a market capitalization of $5.48 billion, a PE ratio of 33.28 and a beta of 0.61.

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

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CVLT. GAMMA Investing LLC lifted its position in Commvault Systems by 140.5% during the second quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock valued at $64,000 after purchasing an additional 309 shares during the period. Comerica Bank lifted its holdings in shares of Commvault Systems by 23.7% in the 1st quarter. Comerica Bank now owns 22,028 shares of the software maker’s stock valued at $2,234,000 after buying an additional 4,224 shares during the period. Virtus Investment Advisers Inc. raised its position in Commvault Systems by 10.1% during the first quarter. Virtus Investment Advisers Inc. now owns 13,316 shares of the software maker’s stock valued at $1,351,000 after acquiring an additional 1,226 shares in the last quarter. Bayesian Capital Management LP acquired a new position in Commvault Systems in the first quarter valued at approximately $351,000. Finally, Aristides Capital LLC purchased a new stake in Commvault Systems in the 1st quarter worth approximately $277,000. Hedge funds and other institutional investors 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.