Commvault Systems (NASDAQ:CVLT) Receives Buy Rating from Guggenheim

Commvault Systems (NASDAQ:CVLT)‘s stock had its “buy” rating reissued by stock analysts at Guggenheim in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $122.00 target price on the software maker’s stock. Guggenheim’s price target would suggest a potential upside of 0.96% from the company’s current price.

Other equities research analysts have also issued reports about the company. KeyCorp upped their price target on Commvault Systems from $109.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. DA Davidson increased their target price on Commvault Systems from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Wells Fargo & Company raised their price target on Commvault Systems from $125.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Lake Street Capital raised their price target on Commvault Systems from $86.00 to $98.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Finally, Royal Bank of Canada raised their target price on Commvault Systems from $97.00 to $112.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.50.

Commvault Systems Stock Up 1.4 %

CVLT traded up $1.70 during trading on Tuesday, hitting $120.84. 84,279 shares of the stock were exchanged, compared to its average volume of 328,616. The firm has a market capitalization of $5.24 billion, a P/E ratio of 32.14 and a beta of 0.60. The stock has a fifty day moving average price of $108.62 and a two-hundred day moving average price of $96.08. Commvault Systems has a 1-year low of $63.70 and a 1-year high of $121.25.

Commvault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, April 30th. The software maker reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.10. Commvault Systems had a return on equity of 31.27% and a net margin of 20.13%. The company had revenue of $223.29 million for the quarter, compared to the consensus estimate of $213.00 million. Analysts predict that Commvault Systems will post 1.7 EPS for the current year.

Insider Activity at Commvault Systems

In other Commvault Systems news, Director Vivie Lee sold 2,500 shares of Commvault Systems stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $112.19, for a total transaction of $280,475.00. Following the sale, the director now directly owns 13,589 shares of the company’s stock, valued at $1,524,549.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Vivie Lee sold 2,500 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $112.19, for a total value of $280,475.00. Following the transaction, the director now owns 13,589 shares of the company’s stock, valued at approximately $1,524,549.91. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Gary Merrill sold 6,040 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $110.20, for a total value of $665,608.00. Following the completion of the transaction, the chief financial officer now directly owns 128,207 shares in the company, valued at approximately $14,128,411.40. The disclosure for this sale can be found here. Insiders have sold 59,816 shares of company stock worth $6,613,874 over the last three months. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Commvault Systems

Several hedge funds have recently modified their holdings of CVLT. Headlands Technologies LLC bought a new position in Commvault Systems during the fourth quarter worth about $67,000. Daiwa Securities Group Inc. raised its position in shares of Commvault Systems by 700.0% in the first quarter. Daiwa Securities Group Inc. now owns 800 shares of the software maker’s stock valued at $81,000 after buying an additional 700 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Commvault Systems by 28.5% in the third quarter. PNC Financial Services Group Inc. now owns 1,429 shares of the software maker’s stock valued at $97,000 after buying an additional 317 shares in the last quarter. EntryPoint Capital LLC raised its position in shares of Commvault Systems by 123.9% in the first quarter. EntryPoint Capital LLC now owns 1,263 shares of the software maker’s stock valued at $128,000 after buying an additional 699 shares in the last quarter. Finally, Ulland Investment Advisors LLC acquired a new position in Commvault Systems during the first quarter valued at approximately $180,000. 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.