Commvault Systems (NASDAQ:CVLT) Now Covered by Analysts at Cantor Fitzgerald

Equities researchers at Cantor Fitzgerald began coverage on shares of Commvault Systems (NASDAQ:CVLT) in a report released on Friday,Briefing.com Automated Import reports. The firm set a “neutral” rating and a $159.00 price target on the software maker’s stock. Cantor Fitzgerald’s target price suggests a potential downside of 1.68% from the company’s previous close.

Several other analysts also recently weighed in on CVLT. Royal Bank of Canada upped their price objective on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. KeyCorp started coverage on Commvault Systems in a research note on Thursday. They set an “overweight” rating and a $192.00 target price for the company. Oppenheimer assumed coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target on the stock. StockNews.com lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, Guggenheim downgraded shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $154.56.

Commvault Systems Stock Up 0.2 %

CVLT stock opened at $161.71 on Friday. The company’s 50-day moving average price is $165.13 and its two-hundred day moving average price is $151.43. The firm has a market cap of $7.07 billion, a P/E ratio of 40.94 and a beta of 0.65. Commvault Systems has a 12 month low of $77.31 and a 12 month high of $178.72.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings results 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. 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 for the quarter, compared to analyst estimates of $220.76 million. During the same quarter last year, the business posted $0.30 EPS. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. Equities analysts predict that Commvault Systems will post 1.66 EPS for the current year.

Insiders Place Their Bets

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of Commvault Systems 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 transaction, the director now directly owns 5,899 shares of the company’s stock, valued at approximately $1,017,577.50. The trade was a 17.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary Merrill sold 1,523 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $15,335,924.23. The trade was a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,530 shares of company stock valued at $2,244,755 in the last ninety days. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Commvault Systems by 0.3% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 116,772 shares of the software maker’s stock valued at $17,622,000 after purchasing an additional 300 shares during the last quarter. Diversify Wealth Management LLC lifted its holdings in Commvault Systems by 19.3% in the fourth quarter. Diversify Wealth Management LLC now owns 4,033 shares of the software maker’s stock valued at $621,000 after buying an additional 653 shares during the period. Ellsworth Advisors LLC boosted its position in Commvault Systems by 4.8% during the fourth quarter. Ellsworth Advisors LLC now owns 4,454 shares of the software maker’s stock valued at $672,000 after acquiring an additional 202 shares during the last quarter. Oak Ridge Investments LLC acquired a new stake in Commvault Systems during the 4th quarter worth about $2,561,000. Finally, CWA Asset Management Group LLC raised its position in shares of Commvault Systems by 20.4% in the 4th quarter. CWA Asset Management Group LLC now owns 7,994 shares of the software maker’s stock worth $1,206,000 after acquiring an additional 1,355 shares in the last quarter. 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.