Commvault Systems, Inc. (NASDAQ:CVLT) Given Average Rating of “Moderate Buy” by Brokerages

Commvault Systems, Inc. (NASDAQ:CVLT) has earned an average rating of “Moderate Buy” from the four ratings firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $85.60.

CVLT has been the subject of several research analyst reports. KeyCorp upgraded Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 price objective for the company in a research note on Wednesday, January 31st. Royal Bank of Canada raised their target price on Commvault Systems from $86.00 to $97.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 31st.

Insider Transactions at Commvault Systems

In other news, Director Allison Pickens sold 990 shares of Commvault Systems stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $94.73, for a total value of $93,782.70. Following the sale, the director now directly owns 7,206 shares of the company’s stock, valued at $682,624.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Allison Pickens sold 990 shares of Commvault Systems stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $94.73, for a total value of $93,782.70. Following the sale, the director now directly owns 7,206 shares of the company’s stock, valued at $682,624.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanjay Mirchandani sold 21,494 shares of Commvault Systems stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $97.82, for a total value of $2,102,543.08. Following the completion of the sale, the chief executive officer now directly owns 399,356 shares in the company, valued at $39,065,003.92. The disclosure for this sale can be found here. Insiders have sold 23,306 shares of company stock valued at $2,276,265 over the last ninety days. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Commvault Systems

Institutional investors have recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in Commvault Systems during the first quarter worth approximately $26,000. Captrust Financial Advisors lifted its position in Commvault Systems by 64.0% during the second quarter. Captrust Financial Advisors now owns 510 shares of the software maker’s stock worth $32,000 after buying an additional 199 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in Commvault Systems during the fourth quarter worth approximately $33,000. Headlands Technologies LLC purchased a new position in Commvault Systems during the fourth quarter worth approximately $67,000. Finally, KBC Group NV purchased a new stake in Commvault Systems in the fourth quarter valued at $69,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Commvault Systems Trading Down 1.5 %

CVLT opened at $96.49 on Monday. Commvault Systems has a 12-month low of $56.76 and a 12-month high of $102.21. The business’s fifty day simple moving average is $97.03 and its 200-day simple moving average is $81.93. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of -3,216.33 and a beta of 0.62.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Commvault Systems had a positive return on equity of 32.27% and a negative net margin of 0.09%. The firm had revenue of $216.81 million during the quarter, compared to analysts’ expectations of $208.01 million. During the same period in the prior year, the business posted $0.17 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. On average, equities research analysts predict that Commvault Systems will post 1.35 EPS for the current year.

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.