Brokerages Set Commvault Systems, Inc. (NASDAQ:CVLT) Target Price at $124.50

Shares of Commvault Systems, Inc. (NASDAQ:CVLT) have been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $124.50.

Several brokerages recently issued reports on CVLT. Guggenheim reiterated a “buy” rating and set a $122.00 price objective on shares of Commvault Systems in a report on Tuesday, June 25th. KeyCorp increased their target price on shares of Commvault Systems from $122.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 2nd. Lake Street Capital increased their target price on shares of Commvault Systems from $86.00 to $98.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. Royal Bank of Canada increased their target price on shares of Commvault Systems from $97.00 to $112.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 1st. Finally, StockNews.com downgraded shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 3rd.

Commvault Systems Trading Down 1.7 %

Shares of NASDAQ:CVLT opened at $119.99 on Friday. Commvault Systems has a 1 year low of $63.70 and a 1 year high of $126.93. The business has a fifty day simple moving average of $114.20 and a 200 day simple moving average of $99.52. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 31.91 and a beta of 0.61.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.10. Commvault Systems had a return on equity of 31.27% and a net margin of 20.13%. The business had revenue of $223.29 million during the quarter, compared to analyst estimates of $213.00 million. On average, sell-side analysts forecast that Commvault Systems will post 1.7 EPS for the current year.

Insider Activity

In other news, Director Charles E. Moran sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $110.83, for a total value of $1,219,130.00. Following the sale, the director now directly owns 10,967 shares of the company’s stock, valued at $1,215,472.61. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Charles E. Moran sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $110.83, for a total value of $1,219,130.00. Following the sale, the director now directly owns 10,967 shares of the company’s stock, valued at $1,215,472.61. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Gary Merrill sold 6,040 shares of Commvault Systems stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $110.20, for a total value of $665,608.00. Following the sale, the chief financial officer now directly owns 128,207 shares in the company, valued at $14,128,411.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,816 shares of company stock valued at $6,613,874. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Commvault Systems

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Commvault Systems by 140.5% during the second quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock worth $64,000 after buying an additional 309 shares in the last quarter. Headlands Technologies LLC bought a new position in Commvault Systems during the fourth quarter worth about $67,000. Daiwa Securities Group Inc. lifted its stake in Commvault Systems by 700.0% during the first quarter. Daiwa Securities Group Inc. now owns 800 shares of the software maker’s stock worth $81,000 after purchasing an additional 700 shares during the period. PNC Financial Services Group Inc. lifted its stake in Commvault Systems by 28.5% during the third quarter. PNC Financial Services Group Inc. now owns 1,429 shares of the software maker’s stock worth $97,000 after purchasing an additional 317 shares during the period. Finally, EntryPoint Capital LLC lifted its stake in Commvault Systems by 123.9% during the first quarter. EntryPoint Capital LLC now owns 1,263 shares of the software maker’s stock worth $128,000 after purchasing an additional 699 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

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.