KeyCorp Increases Commvault Systems (NASDAQ:CVLT) Price Target to $122.00

Commvault Systems (NASDAQ:CVLT) had its price objective boosted by KeyCorp from $109.00 to $122.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the software maker’s stock.

Separately, Royal Bank of Canada increased their price target 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. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $104.40.

Commvault Systems Trading Up 0.2 %

Shares of Commvault Systems stock opened at $102.71 on Wednesday. The company has a 50 day moving average of $98.00 and a 200-day moving average of $84.57. The company has a market cap of $4.50 billion, a PE ratio of -3,422.53 and a beta of 0.62. Commvault Systems has a 1-year low of $58.67 and a 1-year high of $107.46.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.05. The firm had revenue of $216.81 million during the quarter, compared to the consensus estimate of $208.01 million. Commvault Systems had a negative net margin of 0.09% and a positive return on equity of 32.27%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 earnings per share. Research analysts forecast that Commvault Systems will post 1.35 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Allison Pickens sold 990 shares of Commvault Systems stock in a transaction on Monday, February 26th. The shares were sold at an average price of $94.73, for a total value of $93,782.70. Following the completion of the sale, the director now owns 7,206 shares of the company’s stock, valued at approximately $682,624.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Sanjay Mirchandani sold 21,494 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Allison Pickens sold 990 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $94.73, for a total value of $93,782.70. Following the completion of the transaction, the director now directly owns 7,206 shares in the company, valued at approximately $682,624.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,306 shares of company stock worth $2,276,265. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

Several hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its stake in shares of Commvault Systems by 44.9% during the 1st quarter. BNP Paribas Financial Markets now owns 78,281 shares of the software maker’s stock worth $7,940,000 after purchasing an additional 24,243 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Commvault Systems by 7.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,379 shares of the software maker’s stock valued at $2,168,000 after buying an additional 1,540 shares during the period. Marks Group Wealth Management Inc purchased a new position in shares of Commvault Systems during the 1st quarter valued at $219,000. Ulland Investment Advisors LLC purchased a new stake in Commvault Systems in the 1st quarter worth about $180,000. Finally, Louisiana State Employees Retirement System raised its stake in Commvault Systems by 2.4% in the 1st quarter. Louisiana State Employees Retirement System now owns 12,600 shares of the software maker’s stock valued at $1,278,000 after acquiring an additional 300 shares during the period. 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.