Commvault Systems (NASDAQ:CVLT) Given New $173.00 Price Target at Cantor Fitzgerald

Commvault Systems (NASDAQ:CVLT) had its price target increased by Cantor Fitzgerald from $159.00 to $173.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the software maker’s stock.

Several other analysts have also weighed in on CVLT. Royal Bank of Canada increased their price target on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Oppenheimer began coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 target price for the company. StockNews.com downgraded shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. KeyCorp started coverage on shares of Commvault Systems in a research note on Thursday, January 16th. They issued an “overweight” rating and a $192.00 price objective for the company. Finally, Guggenheim lowered Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $156.44.

Commvault Systems Price Performance

NASDAQ:CVLT opened at $146.82 on Wednesday. The stock’s 50 day simple moving average is $163.11 and its two-hundred day simple moving average is $153.93. Commvault Systems has a 1 year low of $83.60 and a 1 year high of $178.72. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 37.17 and a beta of 0.65.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, beating the consensus estimate of $0.76 by $0.07. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The business had revenue of $233.28 million during the quarter, compared to analyst estimates of $220.76 million. During the same quarter last year, the business earned $0.30 earnings per share. Commvault Systems’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, analysts anticipate that Commvault Systems will post 1.65 EPS for the current year.

Insider Activity at Commvault Systems

In related news, insider Gary Merrill sold 1,523 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $164.89, for a total value of $251,127.47. Following the completion of the transaction, the insider now directly owns 93,007 shares of the company’s stock, valued at $15,335,924.23. This trade represents a 1.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $172.50, for a total transaction of $212,520.00. Following the sale, the director now directly owns 5,899 shares in the company, valued at approximately $1,017,577.50. This represents a 17.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,530 shares of company stock valued at $2,244,755 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Commvault Systems

A number of large investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new stake in Commvault Systems during the 3rd quarter worth about $33,000. TFC Financial Management Inc. raised its stake in shares of Commvault Systems by 294.1% in the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock worth $61,000 after purchasing an additional 300 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of Commvault Systems in the third quarter worth about $71,000. Signaturefd LLC lifted its holdings in shares of Commvault Systems by 43.9% during the third quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock worth $91,000 after purchasing an additional 180 shares during the period. Finally, TD Private Client Wealth LLC purchased a new stake in Commvault Systems in the third quarter valued at approximately $105,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

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.