Commvault Systems, Inc. (NASDAQ:CVLT) Receives $85.60 Average Price Target from Analysts

Commvault Systems, Inc. (NASDAQ:CVLT) has been assigned an average rating of “Moderate Buy” from the four research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $85.60.

Several research firms recently commented on CVLT. Royal Bank of Canada increased their price objective on Commvault Systems from $86.00 to $97.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 31st. KeyCorp raised Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 target price on the stock in a report on Wednesday, January 31st.

Commvault Systems Trading Up 0.8 %

CVLT opened at $94.87 on Monday. The stock has a fifty day simple moving average of $97.12 and a two-hundred day simple moving average of $82.76. The company has a market cap of $4.15 billion, a price-to-earnings ratio of -3,161.28 and a beta of 0.62. Commvault Systems has a 12-month low of $56.76 and a 12-month high of $102.21.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.73 by $0.05. Commvault Systems had a positive return on equity of 32.27% and a negative net margin of 0.09%. The company had revenue of $216.81 million for the quarter, compared to analysts’ expectations of $208.01 million. During the same period last year, the firm posted $0.17 earnings per share. Commvault Systems’s revenue was up 11.1% compared to the same quarter last year. On average, analysts predict that Commvault Systems will post 1.35 EPS for the current year.

Insider Transactions at Commvault Systems

In related news, Director Allison Pickens sold 990 shares of Commvault Systems stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $94.73, for a total transaction of $93,782.70. Following the sale, the director now owns 7,206 shares of the company’s stock, valued at approximately $682,624.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Allison Pickens sold 990 shares of Commvault Systems stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $94.73, for a total transaction of $93,782.70. Following the sale, the director now owns 7,206 shares of the company’s stock, valued at approximately $682,624.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gary Merrill sold 822 shares of the firm’s 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 transaction, the chief financial officer now 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 23,306 shares of company stock valued at $2,276,265 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Commvault Systems

Several institutional investors have recently added to or reduced their stakes in CVLT. Raymond James & Associates grew its holdings in Commvault Systems by 25.7% during the 1st quarter. Raymond James & Associates now owns 26,393 shares of the software maker’s stock valued at $1,751,000 after buying an additional 5,402 shares in the last quarter. American Century Companies Inc. grew its holdings in Commvault Systems by 36.1% during the 1st quarter. American Century Companies Inc. now owns 23,076 shares of the software maker’s stock valued at $1,531,000 after buying an additional 6,118 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Commvault Systems by 34.1% during the 1st quarter. MetLife Investment Management LLC now owns 50,861 shares of the software maker’s stock valued at $3,375,000 after buying an additional 12,933 shares in the last quarter. Rhumbline Advisers grew its holdings in Commvault Systems by 1.9% during the 1st quarter. Rhumbline Advisers now owns 126,222 shares of the software maker’s stock valued at $8,375,000 after buying an additional 2,363 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Commvault Systems by 8.2% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,331 shares of the software maker’s stock worth $1,084,000 after purchasing an additional 1,243 shares during the period. 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.