Commvault Systems, Inc. (NASDAQ:CVLT) Receives $166.67 Consensus Target Price from Brokerages

Shares of Commvault Systems, Inc. (NASDAQ:CVLT) have been assigned an average rating of “Moderate Buy” from the nine ratings firms that are covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $175.25.

A number of research analysts recently issued reports on the company. KeyCorp dropped their price target on Commvault Systems from $195.00 to $185.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. Piper Sandler decreased their price target on Commvault Systems from $154.00 to $147.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Oppenheimer boosted their price objective on shares of Commvault Systems from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Cantor Fitzgerald upped their target price on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th.

Insider Activity at Commvault Systems

In other news, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value of $614,471.78. Following the transaction, the insider now directly owns 87,316 shares of the company’s stock, valued at $16,322,853.04. The trade was a 3.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the completion of the transaction, the chief executive officer now directly owns 427,231 shares in the company, valued at approximately $79,447,876.76. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

Several large investors have recently added to or reduced their stakes in CVLT. Burns Matteson Capital Management LLC boosted its stake in shares of Commvault Systems by 6.4% in the first quarter. Burns Matteson Capital Management LLC now owns 2,792 shares of the software maker’s stock valued at $440,000 after purchasing an additional 167 shares during the period. Cullen Frost Bankers Inc. purchased a new position in Commvault Systems in the 1st quarter valued at about $27,000. Victory Capital Management Inc. boosted its position in Commvault Systems by 23.0% in the 1st quarter. Victory Capital Management Inc. now owns 54,148 shares of the software maker’s stock valued at $8,542,000 after buying an additional 10,136 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Commvault Systems by 101.3% during the first quarter. SBI Securities Co. Ltd. now owns 159 shares of the software maker’s stock valued at $25,000 after acquiring an additional 80 shares in the last quarter. Finally, Edgestream Partners L.P. grew its stake in shares of Commvault Systems by 0.6% during the first quarter. Edgestream Partners L.P. now owns 33,473 shares of the software maker’s stock valued at $5,281,000 after acquiring an additional 202 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Commvault Systems Stock Up 3.9 %

Shares of Commvault Systems stock opened at $172.55 on Thursday. The company has a market capitalization of $7.59 billion, a P/E ratio of 45.29 and a beta of 0.68. The company has a 50 day moving average of $158.48 and a 200 day moving average of $162.05. Commvault Systems has a 52-week low of $105.76 and a 52-week high of $190.11.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. The firm had revenue of $275.04 million during the quarter, compared to the consensus estimate of $262.52 million. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.79 earnings per share. As a group, research analysts anticipate that Commvault Systems will post 1.65 earnings per share for the current fiscal 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.