Cantor Fitzgerald Begins Coverage on Commvault Systems (NASDAQ:CVLT)

Analysts at Cantor Fitzgerald initiated coverage on shares of Commvault Systems (NASDAQ:CVLT) in a report issued on Friday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $159.00 price target on the software maker’s stock. Cantor Fitzgerald’s price target would indicate a potential downside of 1.41% from the stock’s previous close.

Several other research analysts also recently weighed in on the stock. Oppenheimer started coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective on the stock. Guggenheim lowered Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday. KeyCorp assumed coverage on Commvault Systems in a research report on Thursday. They issued an “overweight” rating and a $192.00 price target for the company. Finally, Royal Bank of Canada lifted their price objective 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. Five 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 stock. According to data from MarketBeat.com, Commvault Systems currently has an average rating of “Moderate Buy” and a consensus price target of $154.56.

Commvault Systems Price Performance

Shares of NASDAQ:CVLT opened at $161.28 on Friday. The business’s 50-day moving average is $164.92 and its 200-day moving average is $151.89. Commvault Systems has a 1 year low of $77.56 and a 1 year high of $178.72. The company has a market capitalization of $7.05 billion, a price-to-earnings ratio of 40.83 and a beta of 0.65.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The business had revenue of $233.28 million during the quarter, compared to analysts’ expectations of $220.76 million. During the same period last year, the company posted $0.30 earnings per share. The business’s quarterly revenue was up 16.1% on a year-over-year basis. Analysts anticipate that Commvault Systems will post 1.66 EPS for the current year.

Insiders Place Their Bets

In other Commvault Systems news, insider Gary Merrill sold 1,523 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $164.89, for a total value of $251,127.47. Following the completion of the transaction, the insider now owns 93,007 shares in the company, valued at $15,335,924.23. This trade represents a 1.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction of $212,520.00. Following the completion of the transaction, the director now owns 5,899 shares of the company’s stock, valued at $1,017,577.50. This trade represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,530 shares of company stock valued at $2,244,755 over the last ninety days. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in shares of Commvault Systems during the 3rd quarter valued at $33,000. Point72 DIFC Ltd purchased a new position in shares of Commvault Systems during the 3rd quarter valued at about $71,000. Signaturefd LLC lifted its position in Commvault Systems by 43.9% in the 3rd quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock worth $91,000 after buying an additional 180 shares during the last quarter. TD Private Client Wealth LLC purchased a new stake in Commvault Systems in the third quarter worth approximately $105,000. Finally, Centaurus Financial Inc. bought a new position in Commvault Systems during the third quarter valued at approximately $126,000. Institutional investors 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.