Commvault Systems (NASDAQ:CVLT) Price Target Raised to $112.00

Commvault Systems (NASDAQ:CVLT) had its target price raised by Royal Bank of Canada from $97.00 to $112.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a sector perform rating on the software maker’s stock.

Separately, KeyCorp boosted their price objective on shares of Commvault Systems from $109.00 to $122.00 and gave the stock an overweight rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Commvault Systems has an average rating of Moderate Buy and an average price target of $104.40.

Commvault Systems Stock Up 0.2 %

Commvault Systems stock opened at $102.71 on Wednesday. Commvault Systems has a twelve month low of $58.67 and a twelve month high of $107.46. The company has a market capitalization of $4.50 billion, a P/E ratio of -3,422.53 and a beta of 0.62. The stock’s 50 day moving average is $98.00 and its 200 day moving average is $84.57.

Commvault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.05. Commvault Systems had a negative net margin of 0.09% and a positive return on equity of 32.27%. The business had revenue of $216.81 million during the quarter, compared to analysts’ expectations of $208.01 million. During the same period in the previous year, the company earned $0.17 earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities analysts expect that Commvault Systems will post 1.35 EPS for the current year.

Insider Buying and Selling at Commvault Systems

In other news, CEO Sanjay Mirchandani sold 21,494 shares of Commvault Systems stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $97.82, for a total value of $2,102,543.08. Following the completion of the sale, the chief executive officer now directly owns 399,356 shares in the company, valued at $39,065,003.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Sanjay Mirchandani sold 21,494 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $97.82, for a total value of $2,102,543.08. Following the transaction, the chief executive officer now directly owns 399,356 shares in the company, valued at approximately $39,065,003.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Allison Pickens sold 990 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $94.73, for a total value of $93,782.70. Following the completion of the transaction, the director now directly owns 7,206 shares in the company, valued at $682,624.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,306 shares of company stock worth $2,276,265. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVLT. Amalgamated Bank boosted its stake in shares of Commvault Systems by 0.6% during the 4th quarter. Amalgamated Bank now owns 27,504 shares of the software maker’s stock worth $2,196,000 after acquiring an additional 160 shares during the last quarter. State of Michigan Retirement System lifted its position in Commvault Systems by 1.9% during the first quarter. State of Michigan Retirement System now owns 10,712 shares of the software maker’s stock valued at $1,087,000 after purchasing an additional 200 shares in the last quarter. Inspire Investing LLC grew its holdings in Commvault Systems by 5.4% during the third quarter. Inspire Investing LLC now owns 4,548 shares of the software maker’s stock valued at $307,000 after purchasing an additional 231 shares during the period. M&T Bank Corp increased its position in Commvault Systems by 5.4% in the fourth quarter. M&T Bank Corp now owns 4,647 shares of the software maker’s stock worth $371,000 after buying an additional 240 shares in the last quarter. Finally, Strs Ohio raised its stake in shares of Commvault Systems by 1.8% in the third quarter. Strs Ohio now owns 16,600 shares of the software maker’s stock worth $1,122,000 after buying an additional 300 shares during the period. 93.50% of the stock is owned by hedge funds and other 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.