Analysts Set Commvault Systems, Inc. (NASDAQ:CVLT) Price Target at $85.60

Shares of Commvault Systems, Inc. (NASDAQ:CVLT) have received an average recommendation of “Moderate Buy” from the four brokerages that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $85.60.

A number of research analysts have issued reports on CVLT shares. Royal Bank of Canada boosted their target price on shares of Commvault Systems from $86.00 to $97.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 31st. KeyCorp raised shares of Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 target price for the company in a research note on Wednesday, January 31st.

Insider Buying and Selling at Commvault Systems

In other news, CEO Sanjay Mirchandani sold 21,494 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $97.82, for a total value of $2,102,543.08. Following the completion of the sale, the chief executive officer now directly owns 399,356 shares of the company’s stock, valued at approximately $39,065,003.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Gary Merrill sold 822 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $97.25, for a total value of $79,939.50. Following the completion of the sale, the chief financial officer now directly owns 87,945 shares of the company’s stock, valued at approximately $8,552,651.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mirchandani sold 21,494 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $97.82, for a total transaction of $2,102,543.08. Following the completion of the sale, the chief executive officer now directly owns 399,356 shares of the company’s stock, valued at $39,065,003.92. The disclosure for this sale can be found here. Insiders sold 23,306 shares of company stock valued at $2,276,265 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

A number of institutional investors have recently made changes to their positions in the stock. Amalgamated Bank lifted its stake in shares of Commvault Systems by 0.6% in the 4th quarter. Amalgamated Bank now owns 27,504 shares of the software maker’s stock worth $2,196,000 after acquiring an additional 160 shares during the period. Bank of Montreal Can raised its holdings in shares of Commvault Systems by 3.7% in the 2nd quarter. Bank of Montreal Can now owns 5,009 shares of the software maker’s stock worth $330,000 after purchasing an additional 179 shares in the last quarter. Lindenwold Advisors INC raised its holdings in shares of Commvault Systems by 2.7% in the 3rd quarter. Lindenwold Advisors INC now owns 7,179 shares of the software maker’s stock worth $485,000 after purchasing an additional 186 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of Commvault Systems by 2.9% in the 4th quarter. Quantinno Capital Management LP now owns 6,647 shares of the software maker’s stock worth $418,000 after purchasing an additional 188 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of Commvault Systems by 64.0% in the 2nd quarter. Captrust Financial Advisors now owns 510 shares of the software maker’s stock worth $32,000 after purchasing an additional 199 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Commvault Systems Stock Performance

NASDAQ CVLT opened at $94.63 on Monday. Commvault Systems has a one year low of $56.76 and a one year high of $102.21. The company has a 50-day simple moving average of $97.10 and a 200-day simple moving average of $82.41. The firm has a market capitalization of $4.14 billion, a PE ratio of -3,187.94 and a beta of 0.62.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.73 by $0.05. Commvault Systems had a negative net margin of 0.09% and a positive return on equity of 32.27%. The business had revenue of $216.81 million during the quarter, compared to analyst estimates of $208.01 million. During the same period in the previous year, the business posted $0.17 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. Equities analysts forecast that Commvault Systems will post 1.35 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.