Brokerages Set Commvault Systems, Inc. (NASDAQ:CVLT) PT at $81.57

Shares of Commvault Systems, Inc. (NASDAQ:CVLT) have earned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $81.57.

Several analysts have issued reports on CVLT shares. Summit Insights increased their price objective on shares of Commvault Systems from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. Zacks Investment Research downgraded shares of Commvault Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, September 28th. Needham & Company LLC assumed coverage on shares of Commvault Systems in a research report on Monday, September 13th. They set a “buy” rating and a $95.00 price target for the company. Finally, KeyCorp raised their price target on shares of Commvault Systems from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, July 22nd.

In other Commvault Systems news, insider Gary Merrill sold 3,991 shares of Commvault Systems stock in a transaction on Tuesday, August 17th. The shares were sold at an average price of $74.93, for a total value of $299,045.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary B. Smith sold 18,500 shares of the firm’s stock in a transaction on Thursday, August 5th. The shares were sold at an average price of $76.26, for a total value of $1,410,810.00. Following the completion of the sale, the director now owns 56,707 shares in the company, valued at $4,324,475.82. The disclosure for this sale can be found here. Insiders own 0.99% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Crossmark Global Holdings Inc. raised its stake in shares of Commvault Systems by 12.1% during the third quarter. Crossmark Global Holdings Inc. now owns 3,970 shares of the software maker’s stock valued at $233,000 after purchasing an additional 430 shares in the last quarter. Level Four Advisory Services LLC raised its stake in shares of Commvault Systems by 9.9% during the third quarter. Level Four Advisory Services LLC now owns 7,452 shares of the software maker’s stock valued at $561,000 after purchasing an additional 670 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Commvault Systems by 9.7% during the second quarter. Parametric Portfolio Associates LLC now owns 163,419 shares of the software maker’s stock valued at $12,774,000 after purchasing an additional 14,446 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Commvault Systems during the second quarter valued at about $217,000. Finally, Morgan Stanley raised its stake in shares of Commvault Systems by 115.9% during the second quarter. Morgan Stanley now owns 93,734 shares of the software maker’s stock valued at $7,327,000 after purchasing an additional 50,309 shares in the last quarter. Institutional investors and hedge funds own 92.95% of the company’s stock.

NASDAQ CVLT traded up $0.99 during mid-day trading on Monday, hitting $75.71. The company’s stock had a trading volume of 1,659 shares, compared to its average volume of 342,113. Commvault Systems has a 52-week low of $39.20 and a 52-week high of $84.22. The stock’s fifty day simple moving average is $77.06 and its two-hundred day simple moving average is $74.92. The firm has a market capitalization of $3.47 billion, a P/E ratio of -169.82, a price-to-earnings-growth ratio of 6.51 and a beta of 0.68.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Monday, July 26th. The software maker reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.10. Commvault Systems had a negative net margin of 2.64% and a positive return on equity of 10.41%. The company had revenue of $183.40 million during the quarter, compared to the consensus estimate of $181.71 million. During the same quarter last year, the company earned $0.51 earnings per share. Commvault Systems’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, research analysts anticipate that Commvault Systems will post 1.2 earnings per share for the current year.

About Commvault Systems

Commvault Systems, Inc engages in the provision of data protection and information management software applications and related services. It products category include Data Protection, Data insights, Storage, and Metallic BaaS. The firm also offers professional, managed, support, and training services.

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Analyst Recommendations for Commvault Systems (NASDAQ:CVLT)

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