Commvault Systems (NASDAQ:CVLT) Given New $140.00 Price Target at KeyCorp

Commvault Systems (NASDAQ:CVLT) had its price objective hoisted by KeyCorp from $122.00 to $140.00 in a research report released on Tuesday morning, Benzinga reports. KeyCorp currently has an overweight rating on the software maker’s stock.

CVLT has been the topic of several other research reports. Royal Bank of Canada increased their target price on Commvault Systems from $97.00 to $112.00 and gave the stock a sector perform rating in a research note on Wednesday, May 1st. Guggenheim reissued a buy rating and set a $122.00 target price on shares of Commvault Systems in a research note on Tuesday, June 25th. 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. Lake Street Capital upped their price objective on Commvault Systems from $86.00 to $98.00 and gave the stock a hold rating in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company raised their price objective on shares of Commvault Systems from $125.00 to $140.00 and gave the stock an overweight rating in a report on Thursday, May 16th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $124.50.

Commvault Systems Stock Up 3.4 %

Shares of CVLT opened at $125.76 on Tuesday. The stock has a market cap of $5.50 billion, a PE ratio of 33.45 and a beta of 0.61. Commvault Systems has a 52-week low of $63.70 and a 52-week high of $126.12. The firm’s fifty day moving average is $111.76 and its two-hundred day moving average is $97.98.

Commvault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, April 30th. The software maker reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.10. Commvault Systems had a net margin of 20.13% and a return on equity of 31.27%. The business had revenue of $223.29 million for the quarter, compared to analyst estimates of $213.00 million. As a group, research analysts anticipate 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 Vivie Lee sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $112.19, for a total transaction of $280,475.00. Following the completion of the sale, the director now directly owns 13,589 shares of the company’s stock, valued at approximately $1,524,549.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Vivie Lee sold 2,500 shares of Commvault Systems stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $112.19, for a total value of $280,475.00. Following the sale, the director now directly owns 13,589 shares in the company, valued at $1,524,549.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Charles E. Moran sold 11,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $110.83, for a total transaction of $1,219,130.00. Following the transaction, the director now directly owns 10,967 shares in the company, valued at $1,215,472.61. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,816 shares of company stock worth $6,613,874. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Commvault Systems

Several hedge funds have recently bought and sold shares of CVLT. GAMMA Investing LLC grew its position in Commvault Systems by 140.5% during the second quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock valued at $64,000 after acquiring an additional 309 shares during the period. Daiwa Securities Group Inc. increased its stake in Commvault Systems by 700.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 800 shares of the software maker’s stock valued at $81,000 after buying an additional 700 shares during the period. Headlands Technologies LLC acquired a new position in Commvault Systems during the fourth quarter worth about $67,000. EntryPoint Capital LLC boosted its position in shares of Commvault Systems by 123.9% during the 1st quarter. EntryPoint Capital LLC now owns 1,263 shares of the software maker’s stock valued at $128,000 after purchasing an additional 699 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Commvault Systems by 28.5% during the third quarter. PNC Financial Services Group Inc. now owns 1,429 shares of the software maker’s stock worth $97,000 after purchasing an additional 317 shares during the period. Hedge funds and other 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.