Commvault Systems (NASDAQ:CVLT) Price Target Raised to $200.00

Commvault Systems (NASDAQ:CVLT) had its target price upped by Oppenheimer from $180.00 to $200.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the software maker’s stock.

A number of other research firms have also recently commented on CVLT. Cantor Fitzgerald raised their target price on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Piper Sandler reduced their target price on shares of Commvault Systems from $154.00 to $147.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada lifted their price target on shares of Commvault Systems from $175.00 to $185.00 and gave the company a “sector perform” rating in a research report on Wednesday. DA Davidson upped their price objective on shares of Commvault Systems from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $175.25.

Commvault Systems Stock Up 3.9 %

Shares of CVLT stock opened at $172.55 on Wednesday. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of 45.29 and a beta of 0.68. The stock has a fifty day moving average of $158.48 and a 200 day moving average of $161.94. Commvault Systems has a 52 week low of $105.01 and a 52 week high of $190.11.

Commvault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, topping the consensus estimate of $0.93 by $0.10. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. The firm had revenue of $275.04 million during the quarter, compared to analysts’ expectations of $262.52 million. During the same period last year, the company posted $0.79 EPS. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. Equities research analysts anticipate that Commvault Systems will post 1.65 earnings per share for the current year.

Insider Activity

In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value of $614,471.78. Following the completion of the sale, the insider now owns 87,316 shares of the company’s stock, valued at approximately $16,322,853.04. This trade represents a 3.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total value of $2,290,655.28. Following the transaction, the chief executive officer now directly owns 427,231 shares in the company, valued at approximately $79,447,876.76. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Commvault Systems

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Commvault Systems by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 5,636,559 shares of the software maker’s stock worth $850,613,000 after acquiring an additional 54,562 shares during the period. Renaissance Technologies LLC raised its stake in Commvault Systems by 1.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,909,185 shares of the software maker’s stock valued at $288,115,000 after buying an additional 24,900 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Commvault Systems by 57.7% during the 4th quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker’s stock valued at $250,527,000 after buying an additional 607,643 shares during the period. Geode Capital Management LLC boosted its stake in shares of Commvault Systems by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 1,288,068 shares of the software maker’s stock worth $194,681,000 after buying an additional 43,088 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Commvault Systems by 9.8% in the fourth quarter. Northern Trust Corp now owns 651,973 shares of the software maker’s stock worth $98,389,000 after acquiring an additional 58,239 shares during the period. Hedge funds and other 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.