Commvault Systems, Inc. (NASDAQ:CVLT) Receives $85.60 Average PT from Analysts

Commvault Systems, Inc. (NASDAQ:CVLT) has been assigned an average recommendation of “Moderate Buy” from the four brokerages that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $85.60.

Several equities research analysts have recently weighed in on CVLT shares. Royal Bank of Canada increased their target price on shares of Commvault Systems from $86.00 to $97.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 31st. KeyCorp raised shares of Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 price target for the company in a report on Wednesday, January 31st.

Insider Buying and Selling

In other Commvault Systems news, CFO Gary Merrill sold 822 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $97.25, for a total value of $79,939.50. Following the completion of the transaction, the chief financial officer now directly owns 87,945 shares of the company’s stock, valued at $8,552,651.25. The sale was disclosed in a filing with the SEC, which is available at this link. In other Commvault Systems news, CFO Gary Merrill sold 822 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $97.25, for a total value of $79,939.50. Following the completion of the transaction, the chief financial officer now directly owns 87,945 shares of the company’s stock, valued at $8,552,651.25. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Allison Pickens sold 990 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $94.73, for a total transaction of $93,782.70. Following the completion of the transaction, the director now directly owns 7,206 shares of the company’s stock, valued at $682,624.38. The disclosure for this sale can be found here. Insiders sold 23,306 shares of company stock valued at $2,276,265 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in shares of Commvault Systems during the 1st quarter worth approximately $26,000. Captrust Financial Advisors increased its stake in shares of Commvault Systems by 64.0% during the 2nd quarter. Captrust Financial Advisors now owns 510 shares of the software maker’s stock worth $32,000 after purchasing an additional 199 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in shares of Commvault Systems during the 4th quarter worth approximately $33,000. Quantbot Technologies LP purchased a new position in shares of Commvault Systems during the 2nd quarter worth approximately $64,000. Finally, Headlands Technologies LLC purchased a new position in shares of Commvault Systems during the 4th quarter worth approximately $67,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Commvault Systems Stock Performance

Shares of CVLT opened at $94.63 on Monday. Commvault Systems has a fifty-two week low of $56.76 and a fifty-two week high of $102.21. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of -3,187.94 and a beta of 0.62. The firm has a 50-day simple moving average of $97.10 and a 200-day simple moving average of $82.41.

Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.05. Commvault Systems had a negative net margin of 0.09% and a positive return on equity of 32.27%. The business had revenue of $216.81 million during the quarter, compared to the consensus estimate of $208.01 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities research analysts forecast that Commvault Systems will post 1.35 EPS for the current year.

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.