Commvault Systems (NASDAQ:CVLT) Given New $122.00 Price Target at KeyCorp

Commvault Systems (NASDAQ:CVLT) had its target price boosted by KeyCorp from $109.00 to $122.00 in a report published on Wednesday, Benzinga reports. The firm currently has an overweight rating on the software maker’s stock.

Separately, Royal Bank of Canada increased their price target on Commvault Systems from $86.00 to $97.00 and gave the stock a sector perform rating in a report on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $114.25.

Commvault Systems Stock Performance

NASDAQ CVLT opened at $107.43 on Wednesday. Commvault Systems has a one year low of $60.43 and a one year high of $109.25. The firm has a market cap of $4.70 billion, a PE ratio of 28.57 and a beta of 0.64. The firm’s fifty day moving average is $98.47 and its two-hundred day moving average is $84.99.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.73 by $0.05. Commvault Systems had a return on equity of 31.27% and a net margin of 20.13%. The firm had revenue of $216.81 million during the quarter, compared to the consensus estimate of $208.01 million. During the same period in the prior year, the business earned $0.17 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. Research analysts predict that Commvault Systems will post 1.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Sanjay Mirchandani sold 21,494 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 399,356 shares of the company’s stock, valued at approximately $39,065,003.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Commvault Systems news, CEO Sanjay Mirchandani sold 21,494 shares of the 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 completion of the transaction, the chief executive officer now owns 399,356 shares in the company, valued at $39,065,003.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Allison Pickens sold 990 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $94.73, for a total value of $93,782.70. Following the completion of the sale, the director now directly owns 7,206 shares of the company’s stock, valued at approximately $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 institutional investors have recently added to or reduced their stakes in CVLT. Amalgamated Bank lifted its position 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 valued at $2,196,000 after acquiring an additional 160 shares during the period. State of Michigan Retirement System increased its stake in Commvault Systems by 1.9% in the 1st 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 raised 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 worth $307,000 after purchasing an additional 231 shares during the last quarter. M&T Bank Corp boosted its position in Commvault Systems by 5.4% during the fourth quarter. M&T Bank Corp now owns 4,647 shares of the software maker’s stock worth $371,000 after purchasing an additional 240 shares in the last quarter. Finally, Strs Ohio grew its holdings in Commvault Systems by 1.8% in the third quarter. Strs Ohio now owns 16,600 shares of the software maker’s stock valued at $1,122,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.