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

Shares of Commvault Systems, Inc. (NASDAQ:CVLT) have received a consensus rating of “Moderate Buy” from the four research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $85.60.

CVLT has been the subject of several recent analyst reports. Royal Bank of Canada upped their price objective on Commvault Systems from $86.00 to $97.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. KeyCorp upgraded Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 price objective for the company in a research report on Wednesday, January 31st.

Insiders Place Their Bets

In other Commvault Systems news, Director Allison Pickens sold 990 shares of the company’s stock in a transaction dated 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 owns 7,206 shares of the company’s stock, valued at approximately $682,624.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Allison Pickens sold 990 shares of the stock in a transaction dated 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 sale, the director now owns 7,206 shares of the company’s stock, valued at $682,624.38. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sanjay Mirchandani sold 21,494 shares of the 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 completion of the sale, the chief executive officer now directly owns 399,356 shares of the company’s stock, valued at approximately $39,065,003.92. The disclosure for this sale can be found here. Insiders sold a total of 23,306 shares of company stock valued at $2,276,265 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Commvault Systems

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Commvault Systems by 2.7% in the third quarter. Vanguard Group Inc. now owns 5,426,814 shares of the software maker’s stock valued at $366,907,000 after buying an additional 144,625 shares during the period. Lazard Asset Management LLC grew its stake in Commvault Systems by 27.6% during the third quarter. Lazard Asset Management LLC now owns 70,516 shares of the software maker’s stock worth $4,766,000 after purchasing an additional 15,249 shares during the period. Tudor Investment Corp Et Al acquired a new stake in Commvault Systems during the third quarter worth approximately $2,611,000. Qube Research & Technologies Ltd acquired a new stake in Commvault Systems during the third quarter worth approximately $2,974,000. Finally, Quantedge Capital Pte Ltd grew its stake in Commvault Systems by 791.7% during the third quarter. Quantedge Capital Pte Ltd now owns 53,500 shares of the software maker’s stock worth $3,617,000 after purchasing an additional 47,500 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Commvault Systems Stock Up 0.8 %

Shares of CVLT stock opened at $94.87 on Monday. Commvault Systems has a twelve month low of $56.76 and a twelve month high of $102.21. The company has a market cap of $4.15 billion, a P/E ratio of -3,161.28 and a beta of 0.62. The business has a fifty day simple moving average of $97.12 and a 200 day simple moving average of $82.98.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $216.81 million during the quarter, compared to the consensus estimate of $208.01 million. During the same period in the prior year, the company earned $0.17 EPS. Commvault Systems’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities research analysts anticipate that Commvault Systems will post 1.35 earnings per share 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.