Commvault Systems (NASDAQ:CVLT) Price Target Raised to $185.00

Commvault Systems (NASDAQ:CVLT) had its price target raised by Royal Bank of Canada from $175.00 to $185.00 in a report published on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the software maker’s stock.

A number of other research firms have also issued reports on CVLT. StockNews.com raised Commvault Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Cantor Fitzgerald boosted their target price on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. DA Davidson increased their price objective on Commvault Systems from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, KeyCorp decreased their price target on Commvault Systems from $195.00 to $185.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $175.25.

Commvault Systems Stock Up 3.9 %

Shares of CVLT opened at $172.55 on Wednesday. Commvault Systems has a 52-week low of $105.01 and a 52-week high of $190.11. The firm has a market capitalization of $7.59 billion, a PE ratio of 45.29 and a beta of 0.68. The firm has a 50-day moving average price of $158.48 and a 200 day moving average price of $161.94.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. The business had revenue of $275.04 million for the quarter, compared to analyst estimates of $262.52 million. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter last year, the business earned $0.79 earnings per share. On average, equities analysts expect that Commvault Systems will post 1.65 EPS for the current year.

Insider Buying and Selling

In other news, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total transaction of $614,471.78. Following the completion of the sale, the insider now directly owns 87,316 shares in the company, valued at $16,322,853.04. The trade was a 3.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total value of $2,290,655.28. Following the completion of the transaction, the chief executive officer now owns 427,231 shares in the company, valued at $79,447,876.76. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Commvault Systems

Several large investors have recently added to or reduced their stakes in CVLT. Quarry LP boosted its holdings in Commvault Systems by 888.2% in the fourth quarter. Quarry LP now owns 168 shares of the software maker’s stock worth $25,000 after purchasing an additional 151 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Commvault Systems by 101.3% in the first quarter. SBI Securities Co. Ltd. now owns 159 shares of the software maker’s stock worth $25,000 after buying an additional 80 shares during the last quarter. Whipplewood Advisors LLC boosted its stake in shares of Commvault Systems by 584.0% during the 1st quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker’s stock worth $27,000 after acquiring an additional 146 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Commvault Systems during the 1st quarter valued at about $27,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Commvault Systems by 208.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 185 shares of the software maker’s stock valued at $29,000 after acquiring an additional 125 shares in the last quarter. 93.50% of the stock is 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.