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

Commvault Systems, Inc. (NASDAQ:CVLT) has been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $151.25.

Several brokerages recently weighed in on CVLT. Guggenheim cut Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Oppenheimer began 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. Royal Bank of Canada boosted their target price on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Finally, DA Davidson lifted their price target on shares of Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 6th.

Commvault Systems Stock Down 0.0 %

Shares of NASDAQ CVLT opened at $171.59 on Monday. Commvault Systems has a fifty-two week low of $72.76 and a fifty-two week high of $178.72. The business has a 50 day moving average price of $158.48 and a two-hundred day moving average price of $140.51. The firm has a market cap of $7.50 billion, a PE ratio of 43.44 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The firm had revenue of $233.28 million for the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The firm’s revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 EPS. On average, analysts anticipate that Commvault Systems will post 1.66 earnings per share for the current year.

Insiders Place Their Bets

In other Commvault Systems news, insider Gary Merrill sold 1,523 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $164.89, for a total transaction of $251,127.47. Following the completion of the transaction, the insider now owns 93,007 shares in the company, valued at approximately $15,335,924.23. The trade was a 1.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sanjay Mirchandani sold 10,775 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $165.30, for a total value of $1,781,107.50. Following the transaction, the chief executive officer now directly owns 459,969 shares in the company, 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. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Commvault Systems

Institutional investors and hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI acquired a new stake in shares of Commvault Systems in the 2nd quarter worth approximately $30,000. Capital Performance Advisors LLP acquired a new stake in Commvault Systems in the third quarter worth approximately $33,000. Hexagon Capital Partners LLC boosted its stake in Commvault Systems by 124.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock valued at $43,000 after purchasing an additional 196 shares in the last quarter. Signaturefd LLC increased its position in shares of Commvault Systems by 70.8% during the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock valued at $50,000 after purchasing an additional 170 shares during the period. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Commvault Systems in the 2nd quarter worth $56,000. 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.