Commvault Systems (NASDAQ:CVLT) Price Target Raised to $173.00 at Cantor Fitzgerald

Commvault Systems (NASDAQ:CVLT) had its target price hoisted by equities research analysts at Cantor Fitzgerald from $159.00 to $173.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the software maker’s stock. Cantor Fitzgerald’s target price would suggest a potential upside of 13.76% from the company’s previous close.

CVLT has been the topic of a number of other reports. KeyCorp assumed coverage on Commvault Systems in a report on Thursday, January 16th. They issued an “overweight” rating and a $192.00 price target on the stock. StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Oppenheimer assumed coverage on Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price objective on the stock. 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. Finally, Guggenheim lowered Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $156.11.

Commvault Systems Price Performance

Shares of CVLT stock traded down $7.97 during trading hours on Wednesday, reaching $152.08. 102,605 shares of the company traded hands, compared to its average volume of 437,640. The firm has a 50-day moving average price of $163.60 and a 200 day moving average price of $153.98. Commvault Systems has a 12-month low of $83.60 and a 12-month high of $178.72. The company has a market cap of $6.65 billion, a P/E ratio of 38.45 and a beta of 0.65.

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

Insider Transactions at Commvault Systems

In other news, Director Allison Pickens sold 1,232 shares of the stock in a transaction 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 transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjay Mirchandani sold 10,775 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $165.30, for a total value of $1,781,107.50. Following the sale, the chief executive officer now directly owns 459,969 shares in the company, valued at approximately $76,032,875.70. The trade was a 2.29 % 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 currently owned by corporate insiders.

Institutional Investors Weigh In On Commvault Systems

A number of institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC boosted its position in Commvault Systems by 3.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker’s stock valued at $296,000 after purchasing an additional 66 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Commvault Systems by 13.7% in the fourth quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker’s stock worth $152,000 after acquiring an additional 121 shares in the last quarter. OLD National Bancorp IN boosted its holdings in Commvault Systems by 7.1% in the fourth quarter. OLD National Bancorp IN now owns 2,187 shares of the software maker’s stock worth $330,000 after acquiring an additional 145 shares in the last quarter. Lindenwold Advisors INC boosted its holdings in Commvault Systems by 2.4% in the third quarter. Lindenwold Advisors INC now owns 7,028 shares of the software maker’s stock worth $1,081,000 after acquiring an additional 164 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in Commvault Systems by 43.9% in the third quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock worth $91,000 after acquiring an additional 180 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

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.