Commvault Systems’ (CVLT) Buy Rating Reaffirmed at Guggenheim

Guggenheim restated their buy rating on shares of Commvault Systems (NASDAQ:CVLT) in a report published on Tuesday, Benzinga reports. The firm currently has a $122.00 price target on the software maker’s stock.

Other analysts also recently issued research reports about the company. Lake Street Capital upped their price target on Commvault Systems from $86.00 to $98.00 and gave the stock a hold rating in a research note on Wednesday, May 1st. KeyCorp boosted their price objective on Commvault Systems from $109.00 to $122.00 and gave the stock an overweight rating in a research report on Wednesday, May 1st. Royal Bank of Canada boosted their price objective on Commvault Systems from $97.00 to $112.00 and gave the stock a sector perform rating in a research report on Wednesday, May 1st. DA Davidson boosted their price objective on Commvault Systems from $125.00 to $135.00 and gave the stock a buy rating in a research report on Friday, June 14th. Finally, Wells Fargo & Company boosted their price objective on Commvault Systems from $125.00 to $140.00 and gave the stock an overweight rating in a research report on Thursday, May 16th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Commvault Systems has a consensus rating of Moderate Buy and a consensus price target of $121.50.

Commvault Systems Stock Performance

CVLT opened at $121.10 on Tuesday. The company has a market cap of $5.26 billion, a PE ratio of 32.21 and a beta of 0.60. The stock has a 50-day moving average of $109.13 and a 200-day moving average of $96.40. Commvault Systems has a 52-week low of $63.70 and a 52-week high of $121.50.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, April 30th. The software maker reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.10. The company had revenue of $223.29 million during the quarter, compared to the consensus estimate of $213.00 million. Commvault Systems had a return on equity of 31.27% and a net margin of 20.13%. On average, research analysts predict that Commvault Systems will post 1.7 earnings per share for the current year.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, Director Charles E. Moran sold 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $110.83, for a total value of $1,219,130.00. Following the completion of the transaction, the director now owns 10,967 shares of the company’s stock, valued at approximately $1,215,472.61. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Sanjay Mirchandani sold 15,975 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $110.20, for a total value of $1,760,445.00. Following the completion of the transaction, the chief executive officer now directly owns 539,465 shares of the company’s stock, valued at approximately $59,449,043. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles E. Moran sold 11,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $110.83, for a total value of $1,219,130.00. Following the completion of the transaction, the director now directly owns 10,967 shares of the company’s stock, valued at $1,215,472.61. The disclosure for this sale can be found here. Insiders sold a total of 59,816 shares of company stock valued at $6,613,874 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Commvault Systems

Hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC bought a new stake in Commvault Systems during the 4th quarter worth approximately $67,000. Daiwa Securities Group Inc. grew its position in Commvault Systems by 700.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 800 shares of the software maker’s stock worth $81,000 after acquiring an additional 700 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Commvault Systems by 28.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,429 shares of the software maker’s stock worth $97,000 after acquiring an additional 317 shares during the last quarter. EntryPoint Capital LLC grew its position in Commvault Systems by 123.9% during the 1st quarter. EntryPoint Capital LLC now owns 1,263 shares of the software maker’s stock worth $128,000 after acquiring an additional 699 shares during the last quarter. Finally, Ulland Investment Advisors LLC bought a new stake in Commvault Systems during the 1st quarter worth approximately $180,000. 93.50% of the stock is owned by institutional investors and hedge funds.

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.