Brokerages Set Commvault Systems, Inc. (NASDAQ:CVLT) Price Target at $144.29

Commvault Systems, Inc. (NASDAQ:CVLT) has been given a consensus recommendation of “Hold” by the seven ratings firms that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $144.29.

A number of equities analysts recently issued reports on the company. Guggenheim cut Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Royal Bank of Canada boosted their price objective on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. KeyCorp raised their target price on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Piper Sandler boosted their price target on shares of Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Finally, DA Davidson raised their price objective on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, September 6th.

Commvault Systems Trading Up 0.9 %

Shares of NASDAQ:CVLT opened at $173.11 on Thursday. Commvault Systems has a 12-month low of $68.02 and a 12-month high of $173.80. The firm has a market cap of $7.57 billion, a PE ratio of 43.69 and a beta of 0.59. The company has a fifty day simple moving average of $151.33 and a 200 day simple moving average of $133.56.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $220.76 million. During the same period in the previous year, the business earned $0.30 EPS. The business’s quarterly revenue was up 16.1% on a year-over-year basis. As a group, equities research analysts forecast that Commvault Systems will post 1.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction that occurred 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 transaction, the director now owns 7,131 shares of the company’s stock, valued at $1,097,389.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Gary Merrill sold 17,388 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the sale, the insider now owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.89, for a total value 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CVLT. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Commvault Systems by 7.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,379 shares of the software maker’s stock valued at $2,168,000 after acquiring an additional 1,540 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Commvault Systems by 44.9% in the first quarter. BNP Paribas Financial Markets now owns 78,281 shares of the software maker’s stock valued at $7,940,000 after buying an additional 24,243 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Commvault Systems by 700.0% during the first quarter. Daiwa Securities Group Inc. now owns 800 shares of the software maker’s stock worth $81,000 after buying an additional 700 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in Commvault Systems during the first quarter worth $187,000. Finally, Texas Permanent School Fund Corp lifted its stake in Commvault Systems by 1.0% in the first quarter. Texas Permanent School Fund Corp now owns 38,213 shares of the software maker’s stock valued at $3,876,000 after acquiring an additional 383 shares during the last quarter. 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.