Commvault Systems, Inc. (NASDAQ:CVLT) Receives $140.00 Consensus Price Target from Analysts

Commvault Systems, Inc. (NASDAQ:CVLT) has been assigned an average recommendation of “Hold” from the seven ratings firms that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $140.00.

A number of analysts have recently commented on the company. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 31st. Guggenheim cut Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday. KeyCorp boosted their price target on Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Piper Sandler boosted their price target on Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Finally, Royal Bank of Canada boosted their price target 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.

Insider Buying and Selling at Commvault Systems

In related news, insider Gary Merrill sold 17,388 shares of the firm’s 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 completion of the transaction, the insider now owns 94,530 shares of the company’s stock, valued at $14,251,342.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Gary Merrill sold 17,388 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 94,530 shares of the company’s stock, valued at $14,251,342.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.89, for a total transaction of $189,592.48. Following the sale, the director now directly owns 7,131 shares of the company’s stock, valued at $1,097,389.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CVLT. Champlain Investment Partners LLC boosted its stake in Commvault Systems by 58.5% during the 1st quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker’s stock worth $83,704,000 after purchasing an additional 304,459 shares during the period. Acadian Asset Management LLC boosted its stake in Commvault Systems by 16.3% during the 1st quarter. Acadian Asset Management LLC now owns 1,596,635 shares of the software maker’s stock worth $161,914,000 after purchasing an additional 223,347 shares during the period. AQR Capital Management LLC lifted its stake in shares of Commvault Systems by 33.5% in the 2nd quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock worth $78,882,000 after acquiring an additional 162,722 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Commvault Systems by 7.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock worth $220,466,000 after acquiring an additional 126,800 shares during the period. Finally, M&G Plc acquired a new stake in shares of Commvault Systems in the 2nd quarter worth $10,265,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Commvault Systems Stock Performance

Commvault Systems stock opened at $147.84 on Friday. Commvault Systems has a fifty-two week low of $63.70 and a fifty-two week high of $165.73. The firm’s fifty day moving average price is $151.10 and its 200-day moving average price is $126.75. The stock has a market cap of $6.47 billion, a P/E ratio of 39.32 and a beta of 0.60.

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

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.