Commvault Systems (NASDAQ:CVLT) Stock Price Expected to Rise, KeyCorp Analyst Says

Commvault Systems (NASDAQ:CVLT) had its price target lifted by research analysts at KeyCorp from $192.00 to $195.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the software maker’s stock. KeyCorp’s price target suggests a potential upside of 29.32% from the stock’s current price.

CVLT has been the subject of a number of other reports. Royal Bank of Canada boosted their price target on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald boosted their price objective on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research note on Wednesday. Guggenheim cut shares of Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. StockNews.com downgraded shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Finally, Oppenheimer began coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Commvault Systems presently has a consensus rating of “Moderate Buy” and an average price target of $156.44.

Commvault Systems Stock Down 5.8 %

NASDAQ:CVLT traded down $9.26 on Wednesday, reaching $150.79. 207,855 shares of the company’s stock were exchanged, compared to its average volume of 444,119. The firm has a market capitalization of $6.59 billion, a price-to-earnings ratio of 38.13 and a beta of 0.65. Commvault Systems has a 52-week low of $83.60 and a 52-week high of $178.72. The business has a fifty day moving average of $163.60 and a 200-day moving average of $153.98.

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

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, insider Gary Merrill sold 1,523 shares of the stock in a transaction dated 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 approximately $15,335,924.23. This trade represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 value of $212,520.00. Following the sale, the director now directly owns 5,899 shares in the company, valued at $1,017,577.50. This trade represents a 17.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,530 shares of company stock valued at $2,244,755. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Commvault Systems

Hedge funds and other institutional investors have recently bought and sold shares of the company. WCM Investment Management LLC purchased a new position in shares of Commvault Systems in the fourth quarter valued at $10,303,000. Advisors Preferred LLC purchased a new position in Commvault Systems during the 4th quarter valued at about $799,000. Sumitomo Mitsui Trust Group Inc. raised its position in Commvault Systems by 8.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,208 shares of the software maker’s stock worth $1,239,000 after acquiring an additional 620 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Commvault Systems in the fourth quarter valued at about $6,901,000. Finally, Alliance Wealth Advisors LLC UT grew its position in shares of Commvault Systems by 8.4% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 4,551 shares of the software maker’s stock valued at $687,000 after purchasing an additional 352 shares during the last quarter. 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.