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

Shares of Commvault Systems, Inc. (NASDAQ:CVLT) have been given an average rating of “Moderate Buy” by the seven research firms that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $140.00.

A number of equities research analysts have commented on the stock. DA Davidson increased their price objective on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 6th. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 31st. KeyCorp increased their price objective on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Royal Bank of Canada boosted their target price on Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler raised their price target on Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a report on Monday, July 15th.

Insider Transactions at Commvault Systems

In related news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the completion of the sale, the director now owns 7,131 shares in the company, valued at $1,097,389.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the transaction, the insider now directly owns 94,530 shares of the company’s stock, valued at $14,251,342.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.89, for a total transaction of $189,592.48. Following the completion of the transaction, the director now directly owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its holdings in shares of Commvault Systems by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 472,291 shares of the software maker’s stock valued at $37,712,000 after acquiring an additional 12,624 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Commvault Systems by 2.3% during the fourth quarter. Principal Financial Group Inc. now owns 177,881 shares of the software maker’s stock worth $14,204,000 after purchasing an additional 3,931 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new position in Commvault Systems during the fourth quarter worth approximately $280,000. Norges Bank bought a new stake in Commvault Systems in the fourth quarter valued at approximately $24,134,000. Finally, UBS Group AG lifted its position in shares of Commvault Systems by 71.3% in the fourth quarter. UBS Group AG now owns 77,424 shares of the software maker’s stock valued at $6,182,000 after buying an additional 32,217 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Commvault Systems Trading Down 1.3 %

NASDAQ CVLT opened at $148.27 on Wednesday. Commvault Systems has a 1-year low of $63.70 and a 1-year high of $157.13. The company has a 50 day moving average of $141.15 and a 200-day moving average of $119.00. The firm has a market cap of $6.49 billion, a price-to-earnings ratio of 39.43 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.12. The firm had revenue of $224.67 million during the quarter, compared to analysts’ expectations of $215.54 million. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The business’s revenue was up 13.4% on a year-over-year basis. During the same period last year, the firm posted $0.29 EPS. On average, analysts forecast that Commvault Systems will post 1.66 earnings per share for the current year.

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.