Commvault Systems (NASDAQ:CVLT) Price Target Raised to $173.00 at Cantor Fitzgerald

Commvault Systems (NASDAQ:CVLT) had its price objective lifted by stock analysts at Cantor Fitzgerald from $159.00 to $173.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the software maker’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 13.76% from the stock’s previous close.

A number of other brokerages also recently weighed in on CVLT. Guggenheim downgraded shares of Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. StockNews.com downgraded shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Royal Bank of Canada upped their price objective 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. KeyCorp started coverage on shares of Commvault Systems in a report on Thursday, January 16th. They set an “overweight” rating and a $192.00 price objective on the stock. Finally, Oppenheimer initiated coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective on the stock. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $156.11.

Commvault Systems Trading Down 5.0 %

Shares of NASDAQ:CVLT traded down $7.97 during midday trading on Wednesday, reaching $152.08. The company had a trading volume of 102,605 shares, compared to its average volume of 437,640. The company’s 50 day moving average price is $163.60 and its 200 day moving average price is $153.98. The stock has a market cap of $6.65 billion, a P/E ratio of 38.45 and a beta of 0.65. Commvault Systems has a 52-week low of $83.60 and a 52-week high of $178.72.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $233.28 million for the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 EPS. Research analysts forecast that Commvault Systems will post 1.65 EPS for the current fiscal year.

Insider Activity

In related news, CEO Sanjay Mirchandani sold 10,775 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $165.30, for a total value of $1,781,107.50. Following the completion of the sale, the chief executive officer now owns 459,969 shares of the company’s stock, valued at $76,032,875.70. This trade represents a 2.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gary Merrill sold 1,523 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $164.89, for a total value of $251,127.47. Following the completion of the sale, the insider now directly owns 93,007 shares of the company’s stock, valued at $15,335,924.23. The trade was a 1.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,530 shares of company stock valued at $2,244,755. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Commvault Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new stake in Commvault Systems in the 3rd quarter worth about $33,000. Point72 DIFC Ltd bought a new stake in Commvault Systems in the 3rd quarter worth about $71,000. Signaturefd LLC increased its holdings in Commvault Systems by 43.9% in the 3rd quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock worth $91,000 after buying an additional 180 shares in the last quarter. TD Private Client Wealth LLC bought a new stake in Commvault Systems in the 3rd quarter worth about $105,000. Finally, Blue Trust Inc. increased its holdings in Commvault Systems by 38,400.0% in the 4th quarter. Blue Trust Inc. now owns 770 shares of the software maker’s stock worth $118,000 after buying an additional 768 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

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.