Brokerages Set Commvault Systems, Inc. (NASDAQ:CVLT) Price Target at $140.00

Commvault Systems, Inc. (NASDAQ:CVLT) has earned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $140.00.

CVLT has been the subject of several recent research reports. KeyCorp increased their price target on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Guggenheim reaffirmed a “buy” rating and set a $122.00 price target on shares of Commvault Systems in a research report on Tuesday, June 25th. DA Davidson lifted their price objective on shares of Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, September 6th. StockNews.com lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada raised their target price on shares of Commvault Systems from $121.00 to $152.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 31st.

Commvault Systems Stock Down 0.7 %

Shares of CVLT stock opened at $152.14 on Wednesday. The firm has a market cap of $6.66 billion, a PE ratio of 40.46 and a beta of 0.60. Commvault Systems has a 12 month low of $63.70 and a 12 month high of $157.13. The company’s fifty day simple moving average is $142.91 and its 200-day simple moving average is $120.13.

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 the consensus estimate of $0.73 by $0.12. The firm had revenue of $224.67 million for the quarter, compared to analysts’ expectations of $215.54 million. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 EPS. On average, equities analysts predict that Commvault Systems will post 1.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the transaction, the director now owns 7,131 shares of the company’s stock, valued at $1,097,389.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.89, for a total value of $189,592.48. Following the transaction, the director now directly owns 7,131 shares in the company, valued at $1,097,389.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the completion of the sale, the insider now owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Commvault Systems

Institutional investors have recently made changes to their positions in the stock. Xponance Inc. lifted its stake in Commvault Systems by 1.3% during the second quarter. Xponance Inc. now owns 6,371 shares of the software maker’s stock worth $775,000 after purchasing an additional 79 shares during the last quarter. EFG Asset Management North America Corp. boosted its stake in Commvault Systems by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 21,699 shares of the software maker’s stock valued at $2,637,000 after buying an additional 103 shares in the last quarter. Natixis Advisors LLC boosted its stake in Commvault Systems by 1.0% in the second quarter. Natixis Advisors LLC now owns 13,693 shares of the software maker’s stock valued at $1,665,000 after buying an additional 138 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Commvault Systems by 5.4% in the second quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock valued at $328,000 after acquiring an additional 139 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in Commvault Systems by 5.9% during the second quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker’s stock worth $334,000 after acquiring an additional 153 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Commvault Systems Company Profile

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.