Commvault Systems, Inc. (NASDAQ:CVLT) Receives $140.00 Consensus Price Target from Brokerages

Commvault Systems, Inc. (NASDAQ:CVLT) has received an average rating of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $140.00.

Several research analysts have issued reports on CVLT shares. Royal Bank of Canada boosted their target price on Commvault Systems from $121.00 to $152.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. KeyCorp boosted their price objective on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Guggenheim lowered Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. StockNews.com lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 31st. Finally, DA Davidson raised their price target on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, September 6th.

Insider Buying and Selling

In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the transaction, the insider now owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the sale, the insider now owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the completion of the transaction, the director now directly owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Institutional Trading of Commvault Systems

A number of institutional investors have recently modified their holdings of CVLT. Virtu Financial LLC purchased a new stake in Commvault Systems during the fourth quarter valued at approximately $389,000. Vanguard Group Inc. lifted its holdings in shares of Commvault Systems by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 5,488,370 shares of the software maker’s stock valued at $438,246,000 after purchasing an additional 61,556 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Commvault Systems in the 4th quarter worth $3,092,000. Los Angeles Capital Management LLC grew its stake in Commvault Systems by 59.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 22,102 shares of the software maker’s stock worth $2,242,000 after buying an additional 8,202 shares during the last quarter. Finally, Diversified Trust Co increased its position in Commvault Systems by 33.2% during the 1st quarter. Diversified Trust Co now owns 8,523 shares of the software maker’s stock valued at $864,000 after buying an additional 2,122 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Commvault Systems Price Performance

Shares of CVLT opened at $140.87 on Friday. The business’s 50 day simple moving average is $150.86 and its 200-day simple moving average is $127.48. Commvault Systems has a 1 year low of $63.70 and a 1 year high of $165.73. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 37.47 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, topping the consensus estimate of $0.73 by $0.12. The company had revenue of $224.67 million during the quarter, compared to analyst estimates of $215.54 million. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the business posted $0.29 earnings per share. On average, sell-side analysts expect that Commvault Systems will post 1.66 earnings per share for the current year.

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.