Commvault Systems (NASDAQ:CVLT – Get Free Report) had its price objective lifted by investment analysts at KeyCorp from $192.00 to $195.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the software maker’s stock. KeyCorp’s price objective suggests a potential upside of 23.50% from the stock’s previous close.
A number of other research firms also recently issued reports on CVLT. Guggenheim downgraded shares of Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Royal Bank of Canada raised their price target on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald upped their price objective on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research note on Wednesday. StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Finally, Oppenheimer initiated coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price target on the stock. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.44.
Read Our Latest Stock Report on Commvault Systems
Commvault Systems Stock Up 7.5 %
Commvault Systems (NASDAQ:CVLT – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The business had revenue of $233.28 million for the quarter, compared to analysts’ expectations of $220.76 million. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The business’s revenue was up 16.1% on a year-over-year basis. As a group, research analysts expect that Commvault Systems will post 1.65 EPS for the current fiscal year.
Insiders Place Their Bets
In other Commvault Systems news, insider Gary Merrill sold 1,523 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $164.89, for a total value of $251,127.47. Following the sale, the insider now directly owns 93,007 shares in the company, valued at $15,335,924.23. This represents a 1.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sanjay Mirchandani sold 10,775 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the transaction, the chief executive officer now owns 459,969 shares of the company’s stock, valued at $76,032,875.70. This trade represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,530 shares of company stock worth $2,244,755 in the last quarter. 1.00% of the stock is owned by company insiders.
Institutional Trading of Commvault Systems
Institutional investors and hedge funds have recently modified their holdings of the business. Strategic Financial Concepts LLC purchased a new position in shares of Commvault Systems during the fourth quarter worth about $6,901,000. Congress Asset Management Co. lifted its position in Commvault Systems by 5.7% during the fourth quarter. Congress Asset Management Co. now owns 520,378 shares of the software maker’s stock valued at $78,530,000 after purchasing an additional 28,216 shares during the last quarter. Blue Trust Inc. grew its stake in Commvault Systems by 37,400.0% in the 4th quarter. Blue Trust Inc. now owns 750 shares of the software maker’s stock worth $113,000 after buying an additional 748 shares in the last quarter. TFC Financial Management Inc. increased its holdings in shares of Commvault Systems by 294.1% in the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock worth $61,000 after buying an additional 300 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Commvault Systems by 23.4% during the 4th quarter. Van ECK Associates Corp now owns 36,794 shares of the software maker’s stock valued at $5,553,000 after buying an additional 6,982 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.
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.
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