Commvault Systems, Inc. (NASDAQ:CVLT) Receives $151.25 Average Target Price from Analysts

Commvault Systems, Inc. (NASDAQ:CVLT) has been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $151.25.

Several equities research analysts recently weighed in on CVLT shares. Royal Bank of Canada upped their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Guggenheim downgraded shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Oppenheimer started coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective for the company. Finally, DA Davidson boosted their target price on Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, September 6th.

Insider Buying and Selling

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction of $212,520.00. Following the completion of the sale, the director now owns 5,899 shares of the company’s stock, valued at approximately $1,017,577.50. This represents a 17.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gary Merrill sold 1,523 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $164.89, for a total transaction of $251,127.47. Following the sale, the insider now 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 disclosure for this sale can be found here. Insiders have sold a total of 13,530 shares of company stock worth $2,244,755 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Commvault Systems

A number of large investors have recently modified their holdings of CVLT. Capital Performance Advisors LLP acquired a new position in Commvault Systems during the third quarter worth $33,000. National Bank of Canada FI purchased a new stake in shares of Commvault Systems in the second quarter worth approximately $30,000. Hexagon Capital Partners LLC lifted its holdings in shares of Commvault Systems by 124.8% in the second quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock valued at $43,000 after purchasing an additional 196 shares in the last quarter. Signaturefd LLC boosted its position in shares of Commvault Systems by 70.8% during the second quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock valued at $50,000 after buying an additional 170 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in Commvault Systems during the third quarter worth $71,000. 93.50% of the stock is currently owned by institutional investors.

Commvault Systems Stock Performance

CVLT stock opened at $175.75 on Monday. The company’s 50-day simple moving average is $160.48 and its 200 day simple moving average is $142.70. Commvault Systems has a 52 week low of $73.33 and a 52 week high of $178.72. The company has a market capitalization of $7.69 billion, a PE ratio of 44.49 and a beta of 0.61.

Commvault Systems (NASDAQ:CVLT) last issued 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 business had revenue of $233.28 million for 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%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 earnings per share. On average, analysts forecast that Commvault Systems will post 1.66 EPS for the current year.

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.