Commvault Systems, Inc. (NASDAQ:CVLT) Receives $151.25 Average Price Target from Analysts

Shares of Commvault Systems, Inc. (NASDAQ:CVLT) have been given a consensus rating of “Moderate Buy” by the eight analysts that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $151.25.

A number of equities research analysts have weighed in on CVLT shares. StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada boosted their price target on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Guggenheim downgraded shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. DA Davidson boosted their price objective on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Oppenheimer started coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 target price on the stock.

Commvault Systems Trading Down 2.4 %

Shares of Commvault Systems stock opened at $153.74 on Friday. The stock has a 50 day moving average of $163.70 and a 200 day moving average of $148.19. Commvault Systems has a 12 month low of $73.33 and a 12 month high of $178.72. The firm has a market cap of $6.72 billion, a PE ratio of 38.92 and a beta of 0.61.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $233.28 million for the quarter, compared to analysts’ expectations of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The business’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 earnings per share. As a group, equities research analysts forecast that Commvault Systems will post 1.66 earnings per share for the current fiscal year.

Insider Transactions at Commvault Systems

In related news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $172.50, for a total value of $212,520.00. Following the sale, the director now owns 5,899 shares in the company, valued at $1,017,577.50. This represents a 17.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjay Mirchandani sold 10,775 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the completion of the sale, the chief executive officer now owns 459,969 shares in the company, valued at $76,032,875.70. The trade was a 2.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,530 shares of company stock worth $2,244,755. Insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. National Bank of Canada FI acquired a new stake in shares of Commvault Systems in the second quarter valued at about $30,000. Capital Performance Advisors LLP purchased a new stake in Commvault Systems in the third quarter valued at approximately $33,000. Signaturefd LLC lifted its stake in Commvault Systems by 70.8% during the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after acquiring an additional 170 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Commvault Systems during the second quarter worth about $56,000. Finally, Point72 DIFC Ltd acquired a new stake in Commvault Systems during the 3rd quarter worth approximately $71,000. 93.50% of the stock is owned by institutional investors and hedge funds.

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.