Commvault Systems (NASDAQ:CVLT) Price Target Raised to $195.00

Commvault Systems (NASDAQ:CVLT) had its price target raised by KeyCorp from $192.00 to $195.00 in a report published on Wednesday,Benzinga reports. They currently have an overweight rating on the software maker’s stock.

Other equities research analysts have also recently issued research reports about the company. Guggenheim cut Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Royal Bank of Canada lifted 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 upped their price objective on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday. Oppenheimer initiated coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective for the company. Finally, StockNews.com lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $156.44.

Commvault Systems Price Performance

Shares of Commvault Systems stock opened at $159.26 on Wednesday. The stock’s 50-day moving average is $162.55 and its 200 day moving average is $154.21. Commvault Systems has a one year low of $88.34 and a one year high of $178.72. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of 41.80 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. The company had revenue of $233.28 million for the quarter, compared to analysts’ expectations of $220.76 million. During the same quarter in the prior year, the firm earned $0.30 EPS. The business’s revenue was up 16.1% on a year-over-year basis. On average, sell-side analysts expect that Commvault Systems will post 1.68 EPS for the current fiscal year.

Insider Activity

In related news, insider Gary Merrill sold 1,523 shares of Commvault Systems 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 sale, the insider now owns 93,007 shares of the company’s stock, valued at approximately $15,335,924.23. The trade was a 1.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $172.50, for a total value of $212,520.00. Following the transaction, the director now directly owns 5,899 shares of the company’s stock, valued at approximately $1,017,577.50. This trade represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,530 shares of company stock valued at $2,244,755 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in Commvault Systems by 25.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock valued at $90,278,000 after acquiring an additional 120,779 shares during the period. Summit Partners Public Asset Management LLC bought a new position in Commvault Systems during the third quarter worth about $67,722,000. Vontobel Holding Ltd. purchased a new position in shares of Commvault Systems in the third quarter worth about $1,126,000. Point72 Hong Kong Ltd lifted its stake in shares of Commvault Systems by 37.9% during the 3rd quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker’s stock valued at $3,603,000 after buying an additional 6,433 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in Commvault Systems by 58.1% in the 3rd quarter. Raymond James & Associates now owns 15,410 shares of the software maker’s stock worth $2,371,000 after buying an additional 5,661 shares during the period. Hedge funds and other 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.