Commvault Systems, Inc. (NASDAQ:CVLT) Receives Average Recommendation of “Moderate Buy” from Analysts

Commvault Systems, Inc. (NASDAQ:CVLT) has earned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $154.56.

CVLT has been the topic of a number of recent research reports. Guggenheim lowered Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Royal Bank of Canada raised their price target on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Cantor Fitzgerald began coverage on shares of Commvault Systems in a research report on Friday, January 17th. They set a “neutral” rating and a $159.00 target price on the stock. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Finally, Oppenheimer initiated coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price objective on the stock.

Insider Transactions at Commvault Systems

In related news, CEO Sanjay Mirchandani sold 10,775 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $165.30, for a total value of $1,781,107.50. Following the completion of the transaction, the chief executive officer now directly owns 459,969 shares of the company’s stock, valued at approximately $76,032,875.70. This represents a 2.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction dated Monday, November 18th. The shares were 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 $15,335,924.23. This represents a 1.61 % decrease in their position. 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 three months. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Commvault Systems

Hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Commvault Systems by 25.9% in 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 purchasing an additional 120,779 shares during the last quarter. Intech Investment Management LLC bought a new stake in Commvault Systems during the 2nd quarter worth about $2,221,000. Summit Partners Public Asset Management LLC acquired a new position in shares of Commvault Systems during the 3rd quarter worth about $67,722,000. Vontobel Holding Ltd. bought a new position in shares of Commvault Systems in the 3rd quarter valued at about $1,126,000. Finally, Point72 Hong Kong Ltd increased its position in shares of Commvault Systems by 37.9% in the third quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker’s stock valued at $3,603,000 after acquiring an additional 6,433 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Commvault Systems Stock Down 1.0 %

Shares of NASDAQ CVLT opened at $158.30 on Tuesday. Commvault Systems has a 12-month low of $79.43 and a 12-month high of $178.72. The firm’s 50-day simple moving average is $163.92 and its 200 day simple moving average is $153.47. The company has a market cap of $6.92 billion, a price-to-earnings ratio of 40.08 and a beta of 0.65.

Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $233.28 million for the quarter, compared to analyst estimates of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. Commvault Systems’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 earnings per share. On average, equities analysts expect that Commvault Systems will post 1.65 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.