Commvault Systems (NASDAQ:CVLT) Given New $195.00 Price Target at KeyCorp

Commvault Systems (NASDAQ:CVLT) had its price objective hoisted by research analysts at KeyCorp from $192.00 to $195.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. KeyCorp’s price objective would suggest a potential upside of 29.32% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Guggenheim downgraded shares of Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Oppenheimer began coverage on Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target for the company. Royal Bank of Canada boosted their price target on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald upped their price target on shares of Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Commvault Systems currently has an average rating of “Moderate Buy” and a consensus target price of $156.44.

Commvault Systems Stock Performance

Shares of CVLT stock traded down $9.26 on Wednesday, reaching $150.79. The stock had a trading volume of 207,855 shares, compared to its average volume of 444,119. The stock has a market cap of $6.59 billion, a P/E ratio of 38.13 and a beta of 0.65. Commvault Systems has a 1 year low of $83.60 and a 1 year high of $178.72. The company has a 50 day simple moving average of $163.60 and a 200 day simple moving average of $153.98.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, beating the consensus estimate of $0.76 by $0.07. The firm had revenue of $233.28 million during the quarter, compared to analyst estimates of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. 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 firm earned $0.30 EPS. On average, equities research analysts anticipate that Commvault Systems will post 1.65 earnings per share for the current fiscal year.

Insider Transactions at Commvault Systems

In related news, 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 $15,335,924.23. This trade represents a 1.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction 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 sale, the director now directly owns 5,899 shares in the company, 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. In the last quarter, insiders sold 13,530 shares of company stock valued at $2,244,755. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CVLT. State Street Corp increased its stake in shares of Commvault Systems by 1.6% in the third quarter. State Street Corp now owns 1,594,045 shares of the software maker’s stock worth $245,244,000 after acquiring an additional 25,082 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Commvault Systems by 25.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after buying an additional 120,779 shares in the last quarter. Congress Asset Management Co. grew its position in Commvault Systems by 29.4% during the third quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker’s stock valued at $75,719,000 after buying an additional 111,715 shares during the period. FMR LLC raised its position in shares of Commvault Systems by 26.1% in the third quarter. FMR LLC now owns 466,315 shares of the software maker’s stock worth $71,743,000 after acquiring an additional 96,525 shares during the period. Finally, Summit Partners Public Asset Management LLC purchased a new stake in shares of Commvault Systems during the 3rd quarter worth about $67,722,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

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.