Commvault Systems (NASDAQ:CVLT) Given Buy Rating at Guggenheim

Commvault Systems (NASDAQ:CVLT)‘s stock had its “buy” rating reaffirmed by equities research analysts at Guggenheim in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $122.00 price target on the software maker’s stock. Guggenheim’s price objective would suggest a potential upside of 2.84% from the company’s current price.

Other analysts also recently issued reports about the stock. Wells Fargo & Company lifted their price target on shares of Commvault Systems from $125.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. DA Davidson boosted their target price on shares of Commvault Systems from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, June 14th. 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 report on Wednesday, May 1st. KeyCorp boosted their target price on shares of Commvault Systems from $109.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, Lake Street Capital boosted their target price on shares of Commvault Systems from $86.00 to $98.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $121.50.

Commvault Systems Price Performance

Shares of CVLT stock opened at $118.63 on Tuesday. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of 31.55 and a beta of 0.60. The company’s fifty day moving average price is $109.61 and its 200-day moving average price is $96.56. Commvault Systems has a one year low of $63.70 and a one year high of $121.50.

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 company had revenue of $223.29 million for the quarter, compared to the consensus estimate of $213.00 million. Commvault Systems had a net margin of 20.13% and a return on equity of 31.27%. Equities research analysts expect that Commvault Systems will post 1.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, 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 transaction of $1,219,130.00. Following the completion of the transaction, the director now directly owns 10,967 shares of the company’s stock, valued at approximately $1,215,472.61. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 value of $1,219,130.00. Following the completion of the sale, the director now directly owns 10,967 shares of the company’s stock, valued at approximately $1,215,472.61. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Gary Merrill sold 661 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $110.58, for a total transaction of $73,093.38. Following the completion of the sale, the chief financial officer now directly owns 114,373 shares of the company’s stock, valued at $12,647,366.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,816 shares of company stock valued at $6,613,874. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Commvault Systems

Several hedge funds have recently modified their holdings of CVLT. Headlands Technologies LLC bought a new position in shares of Commvault Systems during the 4th quarter worth approximately $67,000. Daiwa Securities Group Inc. raised its stake in shares of Commvault Systems by 700.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 800 shares of the software maker’s stock worth $81,000 after acquiring an additional 700 shares in the last quarter. PNC Financial Services Group Inc. raised its stake 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 worth $97,000 after acquiring an additional 317 shares in the last quarter. EntryPoint Capital LLC raised its stake in shares of 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 in the last quarter. Finally, Ulland Investment Advisors LLC bought a new position in shares of Commvault Systems during the 1st quarter worth approximately $180,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.