Commvault Systems, Inc. (NASDAQ:CVLT) Receives Average Rating of “Moderate Buy” from Analysts

Commvault Systems, Inc. (NASDAQ:CVLT) has earned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $140.00.

Several analysts have recently commented on CVLT shares. DA Davidson raised their price target on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 6th. Royal Bank of Canada raised their price target on Commvault Systems from $121.00 to $152.00 and gave the company a “sector perform” rating in a report on Wednesday, July 31st. Piper Sandler raised their price target on Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a report on Monday, July 15th. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 31st. Finally, KeyCorp raised their price target on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st.

Commvault Systems Trading Up 1.2 %

Commvault Systems stock opened at $162.70 on Friday. Commvault Systems has a twelve month low of $63.70 and a twelve month high of $162.99. The stock has a 50 day moving average of $150.40 and a two-hundred day moving average of $125.62. The stock has a market capitalization of $7.12 billion, a price-to-earnings ratio of 43.27 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The company had revenue of $224.67 million during the quarter, compared to analysts’ expectations of $215.54 million. During the same period last year, the firm earned $0.29 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. Equities analysts predict that Commvault Systems will post 1.66 earnings per share for the current year.

Insider Activity at Commvault Systems

In related news, insider Gary Merrill sold 17,388 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total value of $2,621,414.88. Following the completion of the transaction, the insider now directly owns 94,530 shares of the company’s stock, valued at $14,251,342.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.89, for a total transaction of $189,592.48. Following the completion of the transaction, the director now owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gary Merrill sold 17,388 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total value of $2,621,414.88. Following the transaction, the insider now directly owns 94,530 shares of the company’s stock, valued at $14,251,342.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Commvault Systems

Several hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC grew its position in shares of Commvault Systems by 504.6% in the second quarter. SG Americas Securities LLC now owns 13,016 shares of the software maker’s stock valued at $1,582,000 after purchasing an additional 10,863 shares during the period. Ontario Teachers Pension Plan Board grew its position in shares of Commvault Systems by 23.4% in the first quarter. Ontario Teachers Pension Plan Board now owns 25,770 shares of the software maker’s stock valued at $2,614,000 after purchasing an additional 4,888 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Commvault Systems in the first quarter valued at $595,000. Intech Investment Management LLC purchased a new stake in shares of Commvault Systems in the second quarter valued at $2,221,000. Finally, BOKF NA grew its position in shares of Commvault Systems by 55.3% in the first quarter. BOKF NA now owns 3,119 shares of the software maker’s stock valued at $313,000 after purchasing an additional 1,110 shares during the period. Hedge funds and other 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.