Brokerages Set Commvault Systems, Inc. (NASDAQ:CVLT) Target Price at $85.60

Commvault Systems, Inc. (NASDAQ:CVLT) has been given an average recommendation of “Moderate Buy” by the four analysts that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $85.60.

CVLT has been the subject of a number of recent research reports. KeyCorp raised Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 target price for the company in a research note on Wednesday, January 31st. Royal Bank of Canada boosted their target price on Commvault Systems from $86.00 to $97.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 31st.

Insider Activity at Commvault Systems

In related news, Director Allison Pickens sold 990 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $94.73, for a total transaction of $93,782.70. Following the transaction, the director now owns 7,206 shares in the company, valued at approximately $682,624.38. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Allison Pickens sold 990 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $94.73, for a total transaction of $93,782.70. Following the transaction, the director now owns 7,206 shares in the company, valued at approximately $682,624.38. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sanjay Mirchandani sold 21,494 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $97.82, for a total value of $2,102,543.08. Following the transaction, the chief executive officer now owns 399,356 shares in the company, valued at approximately $39,065,003.92. The disclosure for this sale can be found here. Insiders have sold a total of 23,306 shares of company stock worth $2,276,265 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CVLT. Raymond James & Associates grew its holdings in shares of Commvault Systems by 25.7% during the 1st quarter. Raymond James & Associates now owns 26,393 shares of the software maker’s stock worth $1,751,000 after acquiring an additional 5,402 shares during the period. American Century Companies Inc. grew its holdings in shares of Commvault Systems by 36.1% during the 1st quarter. American Century Companies Inc. now owns 23,076 shares of the software maker’s stock worth $1,531,000 after acquiring an additional 6,118 shares during the period. MetLife Investment Management LLC grew its holdings in shares of Commvault Systems by 34.1% during the 1st quarter. MetLife Investment Management LLC now owns 50,861 shares of the software maker’s stock worth $3,375,000 after acquiring an additional 12,933 shares during the period. Rhumbline Advisers grew its holdings in shares of Commvault Systems by 1.9% during the 1st quarter. Rhumbline Advisers now owns 126,222 shares of the software maker’s stock worth $8,375,000 after acquiring an additional 2,363 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Commvault Systems by 8.2% during 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 acquiring an additional 1,243 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Commvault Systems Stock Up 0.8 %

Shares of CVLT stock opened at $94.87 on Monday. The business has a 50-day moving average price of $97.12 and a two-hundred day moving average price of $82.98. Commvault Systems has a 12-month low of $56.76 and a 12-month high of $102.21. The firm has a market cap of $4.15 billion, a P/E ratio of -3,161.28 and a beta of 0.62.

Commvault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $208.01 million. During the same quarter in the previous year, the company posted $0.17 EPS. Commvault Systems’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts expect that Commvault Systems will post 1.35 EPS for the current fiscal year.

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.