Commvault Systems, Inc. (NASDAQ:CVLT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Commvault Systems, Inc. (NASDAQ:CVLT) has been assigned an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $175.25.

Several equities research analysts have recently issued reports on the stock. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, April 23rd. Piper Sandler decreased their target price on Commvault Systems from $154.00 to $147.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. DA Davidson upped their price target on Commvault Systems from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Royal Bank of Canada boosted their price objective on Commvault Systems from $175.00 to $185.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 30th. Finally, Oppenheimer upped their price objective on shares of Commvault Systems from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th.

Commvault Systems Trading Up 0.8 %

CVLT stock opened at $174.00 on Thursday. Commvault Systems has a 1-year low of $105.76 and a 1-year high of $190.11. The stock has a market cap of $7.66 billion, a P/E ratio of 45.67 and a beta of 0.71. The stock’s fifty day simple moving average is $158.52 and its two-hundred day simple moving average is $162.42.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.10. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. The company had revenue of $275.04 million for the quarter, compared to the consensus estimate of $262.52 million. During the same period in the previous year, the firm earned $0.79 EPS. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, analysts forecast that Commvault Systems will post 1.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 value of $614,471.78. Following the sale, the insider now directly owns 87,316 shares of the company’s stock, valued at approximately $16,322,853.04. The trade was a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Mirchandani sold 12,318 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the completion of the sale, 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. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Commvault Systems

A number of hedge funds have recently added to or reduced their stakes in the stock. Quarry LP boosted its position in Commvault Systems by 888.2% during the 4th quarter. Quarry LP now owns 168 shares of the software maker’s stock valued at $25,000 after acquiring an additional 151 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of Commvault Systems by 101.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 159 shares of the software maker’s stock worth $25,000 after purchasing an additional 80 shares during the last quarter. Whipplewood Advisors LLC boosted its position in Commvault Systems by 584.0% during the first quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker’s stock valued at $27,000 after purchasing an additional 146 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in Commvault Systems in the first quarter valued at about $27,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Commvault Systems by 208.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 185 shares of the software maker’s stock worth $29,000 after purchasing an additional 125 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

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.