Brokerages Set Commvault Systems, Inc. (NASDAQ:CVLT) Price Target at $154.56

Shares of Commvault Systems, Inc. (NASDAQ:CVLT) have been given an average rating of “Moderate Buy” by the nine brokerages that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $154.56.

Several equities research analysts have issued reports on CVLT shares. Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Oppenheimer assumed coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective on the stock. Cantor Fitzgerald assumed coverage on Commvault Systems in a research report on Friday, January 17th. They set a “neutral” rating and a $159.00 price objective on the stock. Finally, Royal Bank of Canada increased their price objective on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th.

Commvault Systems Trading Down 1.1 %

NASDAQ CVLT opened at $160.94 on Tuesday. The company has a market cap of $7.04 billion, a PE ratio of 40.74 and a beta of 0.65. Commvault Systems has a 12 month low of $79.39 and a 12 month high of $178.72. The stock has a 50 day moving average of $164.30 and a 200-day moving average of $152.69.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, beating the consensus estimate of $0.76 by $0.07. The company had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 EPS. As a group, sell-side analysts predict that Commvault Systems will post 1.65 EPS for the current fiscal year.

Insider Buying and Selling

In other Commvault Systems news, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $164.89, for a total value of $251,127.47. Following the completion of the sale, the insider now directly owns 93,007 shares in the company, valued at approximately $15,335,924.23. The trade was a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $172.50, for a total value of $212,520.00. Following the completion of the sale, the director now owns 5,899 shares of the company’s stock, valued at approximately $1,017,577.50. The trade was a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,530 shares of company stock valued at $2,244,755 over the last ninety days. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Commvault Systems

A number of hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its holdings in Commvault Systems by 1.6% in the third quarter. State Street Corp now owns 1,594,045 shares of the software maker’s stock worth $245,244,000 after purchasing an additional 25,082 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Commvault Systems by 33.5% during the second quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock valued at $78,882,000 after acquiring an additional 162,722 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Commvault Systems by 25.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock valued at $90,278,000 after acquiring an additional 120,779 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Commvault Systems by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 523,474 shares of the software maker’s stock valued at $63,637,000 after acquiring an additional 2,633 shares in the last quarter. Finally, Congress Asset Management Co. increased its holdings in shares of Commvault Systems by 29.4% during the third quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker’s stock valued at $75,719,000 after acquiring an additional 111,715 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

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.