Commvault Systems (NASDAQ:CVLT) Given New $135.00 Price Target at DA Davidson

Commvault Systems (NASDAQ:CVLT) had its price objective increased by investment analysts at DA Davidson from $125.00 to $135.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. DA Davidson’s target price suggests a potential upside of 15.84% from the company’s previous close.

Other analysts have also recently issued reports about the company. KeyCorp lifted their price target on Commvault Systems from $109.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Wells Fargo & Company boosted their target price on shares of Commvault Systems from $125.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Lake Street Capital raised their price target 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. Finally, Royal Bank of Canada boosted their price objective on shares of Commvault Systems from $97.00 to $112.00 and gave the company a “sector perform” rating in a report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $121.40.

Commvault Systems Trading Up 1.8 %

CVLT opened at $116.54 on Friday. The stock’s fifty day simple moving average is $106.04 and its 200 day simple moving average is $94.10. Commvault Systems has a 1-year low of $63.70 and a 1-year high of $119.51. The stock has a market cap of $5.06 billion, a PE ratio of 30.99 and a beta of 0.60.

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

Insider Activity at Commvault Systems

In other news, Director Charles E. Moran sold 11,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 10,967 shares of the company’s stock, valued at approximately $1,215,472.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Vivie Lee sold 2,500 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $112.19, for a total value of $280,475.00. Following the sale, the director now directly owns 13,589 shares of the company’s stock, valued at $1,524,549.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles E. Moran sold 11,000 shares of Commvault Systems stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $110.83, for a total value of $1,219,130.00. Following the completion of the transaction, the director now owns 10,967 shares in the company, valued at approximately $1,215,472.61. The disclosure for this sale can be found here. Insiders sold a total of 59,816 shares of company stock valued at $6,613,874 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Commvault Systems

Hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new position in Commvault Systems during the 4th quarter worth approximately $67,000. Daiwa Securities Group Inc. lifted its stake in shares of Commvault Systems by 700.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 800 shares of the software maker’s stock valued at $81,000 after acquiring an additional 700 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Commvault Systems by 28.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,429 shares of the software maker’s stock valued at $97,000 after acquiring an additional 317 shares in the last quarter. EntryPoint Capital LLC grew its position in Commvault Systems by 123.9% during the 1st quarter. EntryPoint Capital LLC now owns 1,263 shares of the software maker’s stock worth $128,000 after acquiring an additional 699 shares during the last quarter. Finally, Ulland Investment Advisors LLC acquired a new position in Commvault Systems in the 1st quarter worth about $180,000. 93.50% of the stock is currently 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.