Commvault Systems, Inc. (NASDAQ:CVLT) Receives $151.25 Average Price Target from Analysts

Commvault Systems, Inc. (NASDAQ:CVLT) has earned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $151.25.

Several analysts have weighed in on CVLT shares. DA Davidson boosted their price objective on Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Oppenheimer initiated coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price objective on the stock. StockNews.com lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada lifted their price objective on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th.

Commvault Systems Stock Up 2.0 %

Commvault Systems stock opened at $175.75 on Monday. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of 44.49 and a beta of 0.61. Commvault Systems has a 12-month low of $73.33 and a 12-month high of $178.72. The stock has a 50-day simple moving average of $160.48 and a 200 day simple moving average of $142.70.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. The firm had revenue of $233.28 million for the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 EPS. As a group, sell-side analysts anticipate that Commvault Systems will post 1.66 EPS for the current year.

Insider Activity

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

Institutional Trading of Commvault Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC increased its position in shares of Commvault Systems by 504.6% during the 2nd quarter. SG Americas Securities LLC now owns 13,016 shares of the software maker’s stock worth $1,582,000 after purchasing an additional 10,863 shares during the last quarter. Intech Investment Management LLC bought a new stake in Commvault Systems during the second quarter worth $2,221,000. Charles Schwab Investment Management Inc. lifted its stake in Commvault Systems by 25.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock valued at $90,278,000 after acquiring an additional 120,779 shares during the last quarter. Summit Partners Public Asset Management LLC bought a new position in shares of Commvault Systems in the 3rd quarter valued at about $67,722,000. Finally, Ellsworth Advisors LLC acquired a new position in shares of Commvault Systems during the 2nd quarter worth about $495,000. Institutional investors and hedge funds 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.