Brokerages Set CommVault Systems, Inc. (NASDAQ:CVLT) Target Price at $175.25

Shares of CommVault Systems, Inc. (NASDAQ:CVLT) have earned a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $182.86.

Several research analysts have commented on CVLT shares. Wall Street Zen raised CommVault Systems from a “hold” rating to a “buy” rating in a research report on Thursday, May 1st. DA Davidson raised their price objective on CommVault Systems from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Wells Fargo & Company raised their price objective on CommVault Systems from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Guggenheim reissued a “neutral” rating on shares of CommVault Systems in a research report on Wednesday, April 23rd. Finally, Oppenheimer raised their price objective on CommVault Systems from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th.

Insider Buying and Selling

In related news, CEO Sanjay Mirchandani sold 1,709 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $299,075.00. Following the sale, the chief executive officer now owns 469,648 shares of the company’s stock, valued at $82,188,400. The trade was a 0.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary Merrill sold 1,748 shares of CommVault Systems stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $174.91, for a total transaction of $305,742.68. Following the completion of the transaction, the insider now owns 89,923 shares in the company, valued at approximately $15,728,431.93. This trade represents a 1.91% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,957 shares of company stock worth $859,428. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Quarry LP grew its position in CommVault Systems by 888.2% during the 4th quarter. Quarry LP now owns 168 shares of the software maker’s stock worth $25,000 after purchasing an additional 151 shares in the last quarter. SBI Securities Co. Ltd. grew its position in CommVault Systems by 101.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 159 shares of the software maker’s stock worth $25,000 after purchasing an additional 80 shares in the last quarter. Whipplewood Advisors LLC grew its position in CommVault Systems by 584.0% during the 1st quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker’s stock worth $27,000 after purchasing an additional 146 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in CommVault Systems during the 1st quarter worth approximately $27,000. Finally, Brooklyn Investment Group grew its position in CommVault Systems by 8,550.0% during the 1st quarter. Brooklyn Investment Group now owns 173 shares of the software maker’s stock worth $27,000 after purchasing an additional 171 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

CommVault Systems Trading Down 1.0%

Shares of CVLT opened at $170.50 on Friday. The firm has a market capitalization of $7.52 billion, a P/E ratio of 100.89 and a beta of 0.75. The stock’s fifty day simple moving average is $174.32 and its 200 day simple moving average is $166.48. CommVault Systems has a twelve month low of $118.07 and a twelve month high of $192.01.

CommVault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.10. The business had revenue of $275.04 million for the quarter, compared to analyst estimates of $262.52 million. CommVault Systems had a return on equity of 32.31% and a net margin of 7.64%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the company posted $0.79 EPS. Sell-side analysts predict that CommVault Systems will post 1.65 earnings per share for the current year.

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.