KeyCorp Raises Commvault Systems (NASDAQ:CVLT) Price Target to $170.00

Commvault Systems (NASDAQ:CVLT) had its price objective raised by KeyCorp from $140.00 to $170.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the software maker’s stock.

CVLT has been the topic of several other reports. Piper Sandler raised their target price on shares of Commvault Systems from $107.00 to $123.00 and gave the stock a neutral rating in a research report on Monday, July 15th. Guggenheim reissued a buy rating and issued a $122.00 target price on shares of Commvault Systems in a research report on Tuesday, June 25th. DA Davidson raised their target price on shares of Commvault Systems from $125.00 to $135.00 and gave the stock a buy rating in a research report on Friday, June 14th. StockNews.com raised shares of Commvault Systems from a buy rating to a strong-buy rating in a research report on Thursday, July 11th. Finally, Royal Bank of Canada raised their target price on shares of Commvault Systems from $121.00 to $152.00 and gave the stock a sector perform rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Commvault Systems currently has an average rating of Moderate Buy and a consensus target price of $134.29.

Commvault Systems Price Performance

Shares of NASDAQ CVLT opened at $136.68 on Wednesday. The company has a market cap of $5.97 billion, a PE ratio of 36.35 and a beta of 0.61. Commvault Systems has a 12 month low of $63.70 and a 12 month high of $155.33. The company has a 50-day simple moving average of $121.03 and a 200-day simple moving average of $105.72.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. The business had revenue of $224.67 million during the quarter, compared to the consensus estimate of $215.54 million. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.29 earnings per share. On average, analysts anticipate that Commvault Systems will post 1.71 EPS for the current year.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, Director Vivie Lee sold 2,500 shares of Commvault Systems stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $112.19, for a total transaction of $280,475.00. Following the transaction, the director now directly owns 13,589 shares of the company’s stock, valued at $1,524,549.91. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Vivie Lee sold 2,500 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $112.19, for a total transaction of $280,475.00. Following the transaction, the director now directly owns 13,589 shares of the company’s stock, valued at $1,524,549.91. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles E. Moran sold 11,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $110.83, for a total transaction of $1,219,130.00. Following the transaction, the director now directly owns 10,967 shares in the company, valued at $1,215,472.61. The disclosure for this sale can be found here. Insiders have sold a total of 59,816 shares of company stock valued at $6,613,874 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. National Bank of Canada FI acquired a new position in shares of Commvault Systems during the second quarter worth $30,000. Hexagon Capital Partners LLC lifted its position in shares of Commvault Systems by 124.8% during the second quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock worth $43,000 after purchasing an additional 196 shares in the last quarter. Signaturefd LLC increased its stake in shares of Commvault Systems by 70.8% in the second quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after buying an additional 170 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Commvault Systems by 140.5% in the second quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock worth $64,000 after buying an additional 309 shares during the last quarter. Finally, DT Investment Partners LLC bought a new stake in shares of Commvault Systems in the second quarter worth $69,000. 93.50% of the stock is owned by institutional investors and hedge funds.

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.