Analysts Set Commvault Systems, Inc. (NASDAQ:CVLT) Price Target at $119.40

Shares of Commvault Systems, Inc. (NASDAQ:CVLT) have earned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $121.40.

CVLT has been the subject of a number of recent research reports. Lake Street Capital lifted their price objective on Commvault Systems from $86.00 to $98.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Royal Bank of Canada boosted 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 note on Wednesday, May 1st. DA Davidson increased their price target on shares of Commvault Systems from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Friday. Wells Fargo & Company increased their price target on shares of Commvault Systems from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. Finally, KeyCorp lifted their price target on shares of Commvault Systems from $109.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st.

Commvault Systems Stock Performance

NASDAQ CVLT opened at $116.54 on Monday. The business’s fifty day moving average is $106.04 and its 200 day moving average is $93.95. The company has a market capitalization of $5.06 billion, a PE ratio of 30.99 and a beta of 0.60. Commvault Systems has a fifty-two week low of $63.70 and a fifty-two week high of $119.51.

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

Insider Activity

In other Commvault Systems news, Director Charles E. Moran sold 11,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $110.83, for a total transaction of $1,219,130.00. Following the sale, the director now directly owns 10,967 shares in the company, valued at approximately $1,215,472.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sanjay Mirchandani sold 15,975 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $110.20, for a total value of $1,760,445.00. Following the sale, the chief executive officer now directly owns 539,465 shares in the company, valued at approximately $59,449,043. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles E. Moran sold 11,000 shares of Commvault Systems stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $110.83, for a total transaction of $1,219,130.00. Following the completion of the transaction, the director now directly owns 10,967 shares in the company, valued at $1,215,472.61. The disclosure for this sale can be found here. In the last three months, insiders sold 59,816 shares of company stock valued at $6,613,874. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System grew its position in Commvault Systems by 3.8% during the third quarter. State Board of Administration of Florida Retirement System now owns 13,166 shares of the software maker’s stock valued at $890,000 after purchasing an additional 480 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in Commvault Systems by 5.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 36,261 shares of the software maker’s stock worth $2,452,000 after acquiring an additional 1,883 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Commvault Systems in the third quarter worth approximately $2,772,000. UBS Group AG grew its position in Commvault Systems by 24.6% in the third quarter. UBS Group AG now owns 45,207 shares of the software maker’s stock worth $3,056,000 after acquiring an additional 8,929 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its position in Commvault Systems by 83.6% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 24,600 shares of the software maker’s stock worth $1,663,000 after acquiring an additional 11,200 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other 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.