Brokerages Set Commvault Systems, Inc. (NASDAQ:CVLT) Target Price at $85.60

Commvault Systems, Inc. (NASDAQ:CVLT) has received a consensus recommendation of “Moderate Buy” from the four brokerages that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $85.60.

Several research analysts have recently issued reports on the stock. KeyCorp upgraded shares of Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 target price on the stock in a report on Wednesday, January 31st. Royal Bank of Canada lifted their price target on shares of Commvault Systems from $86.00 to $97.00 and gave the company a “sector perform” rating in a report on Wednesday, January 31st.

Commvault Systems Price Performance

Shares of CVLT opened at $100.26 on Thursday. The firm’s 50 day simple moving average is $93.39 and its 200 day simple moving average is $79.34. The company has a market capitalization of $4.39 billion, a P/E ratio of -3,340.89 and a beta of 0.61. Commvault Systems has a 1-year low of $54.90 and a 1-year high of $101.00.

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

Insider Activity

In other news, Director Allison Pickens sold 990 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $94.73, for a total transaction of $93,782.70. Following the sale, the director now owns 7,206 shares in the company, valued at approximately $682,624.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Sanjay Mirchandani sold 21,494 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $97.82, for a total transaction of $2,102,543.08. Following the sale, the chief executive officer now owns 399,356 shares in the company, valued at approximately $39,065,003.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Allison Pickens sold 990 shares of Commvault Systems stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $94.73, for a total value of $93,782.70. Following the completion of the transaction, the director now directly owns 7,206 shares of the company’s stock, valued at approximately $682,624.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,306 shares of company stock worth $2,276,265. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Commvault Systems

Several large investors have recently modified their holdings of CVLT. Raymond James & Associates raised its position in Commvault Systems by 25.7% in the 1st quarter. Raymond James & Associates now owns 26,393 shares of the software maker’s stock worth $1,751,000 after buying an additional 5,402 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Commvault Systems by 36.1% during the 1st quarter. American Century Companies Inc. now owns 23,076 shares of the software maker’s stock valued at $1,531,000 after purchasing an additional 6,118 shares during the period. MetLife Investment Management LLC grew its stake in shares of Commvault Systems by 34.1% during the 1st quarter. MetLife Investment Management LLC now owns 50,861 shares of the software maker’s stock valued at $3,375,000 after purchasing an additional 12,933 shares during the period. Rhumbline Advisers grew its stake in shares of Commvault Systems by 1.9% during the 1st quarter. Rhumbline Advisers now owns 126,222 shares of the software maker’s stock valued at $8,375,000 after purchasing an additional 2,363 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Commvault Systems by 8.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,331 shares of the software maker’s stock valued at $1,084,000 after purchasing an additional 1,243 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.