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

Shares of Commvault Systems, Inc. (NASDAQ:CVLTGet Rating) have been assigned a consensus recommendation of “Buy” from the seven analysts that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $79.60.

Separately, StockNews.com started coverage on Commvault Systems in a report on Thursday, March 31st. They set a “strong-buy” rating for the company.

Shares of NASDAQ:CVLT opened at $60.49 on Friday. The business has a 50-day moving average price of $61.64 and a 200 day moving average price of $64.47. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 85.20, a PEG ratio of 6.21 and a beta of 0.66. Commvault Systems has a 12-month low of $55.72 and a 12-month high of $84.22.

Commvault Systems (NASDAQ:CVLTGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The software maker reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.12. Commvault Systems had a return on equity of 15.55% and a net margin of 4.37%. The firm had revenue of $205.95 million during the quarter, compared to the consensus estimate of $201.98 million. During the same period last year, the company earned $0.25 EPS. The company’s quarterly revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts expect that Commvault Systems will post 1.01 EPS for the current year.

In other news, CAO James J. Whalen sold 1,662 shares of Commvault Systems stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $64.31, for a total value of $106,883.22. Following the completion of the transaction, the chief accounting officer now owns 29,616 shares in the company, valued at approximately $1,904,604.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Allison Pickens sold 500 shares of Commvault Systems stock in a transaction dated Thursday, May 12th. The shares were sold at an average price of $58.47, for a total value of $29,235.00. Following the completion of the transaction, the director now owns 6,758 shares of the company’s stock, valued at approximately $395,140.26. The disclosure for this sale can be found here. Insiders sold a total of 35,485 shares of company stock valued at $2,245,490 in the last quarter. Company insiders own 0.99% of the company’s stock.

A number of hedge funds have recently bought and sold shares of CVLT. Exchange Traded Concepts LLC purchased a new stake in Commvault Systems during the first quarter worth approximately $29,000. Huntington National Bank increased its position in Commvault Systems by 33.4% during the fourth quarter. Huntington National Bank now owns 943 shares of the software maker’s stock worth $65,000 after buying an additional 236 shares during the period. Lazard Asset Management LLC increased its position in Commvault Systems by 63.1% during the first quarter. Lazard Asset Management LLC now owns 1,321 shares of the software maker’s stock worth $87,000 after buying an additional 511 shares during the period. Gladius Capital Management LP acquired a new position in Commvault Systems during the fourth quarter worth approximately $125,000. Finally, Point72 Hong Kong Ltd acquired a new position in Commvault Systems during the third quarter worth approximately $166,000. Hedge funds and other institutional investors own 95.69% of the company’s stock.

Commvault Systems Company Profile (Get Rating)

Commvault Systems, Inc provides data protection and information management software applications and related services 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; and Commvault Complete Data Protection, a data protection solution.

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