Commvault Systems, Inc. (NASDAQ:CVLT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Commvault Systems, Inc. (NASDAQ:CVLT) have been assigned an average rating of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $140.00.

Several analysts recently weighed in on CVLT shares. 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. KeyCorp lifted their price objective on Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Piper Sandler increased their target price on shares of Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Royal Bank of Canada upped their price objective on shares of Commvault Systems from $121.00 to $152.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 31st. Finally, Guggenheim reissued a “buy” rating and issued a $122.00 price objective on shares of Commvault Systems in a research report on Tuesday, June 25th.

Insider Transactions at Commvault Systems

In other news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.89, for a total value of $189,592.48. Following the completion of the sale, the director now owns 7,131 shares in the company, valued at approximately $1,097,389.59. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were 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 in the company, valued at $14,251,342.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Commvault Systems

Several institutional investors have recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Commvault Systems by 49.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 58,020 shares of the software maker’s stock worth $7,053,000 after purchasing an additional 19,300 shares during the period. Creative Planning boosted its holdings in Commvault Systems by 67.6% in the 2nd quarter. Creative Planning now owns 7,321 shares of the software maker’s stock worth $890,000 after buying an additional 2,954 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Commvault Systems in the 2nd quarter valued at approximately $267,000. Scientech Research LLC bought a new stake in Commvault Systems during the 2nd quarter valued at $221,000. Finally, Maverick Capital Ltd. lifted its position in shares of Commvault Systems by 9.2% during the second quarter. Maverick Capital Ltd. now owns 10,198 shares of the software maker’s stock worth $1,240,000 after acquiring an additional 861 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Commvault Systems Stock Performance

Shares of CVLT opened at $152.14 on Wednesday. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of 40.46 and a beta of 0.60. Commvault Systems has a 52 week low of $63.70 and a 52 week high of $157.13. The stock has a fifty day moving average of $142.91 and a 200-day moving average of $120.13.

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