Royal Bank of Canada Raises Commvault Systems (NASDAQ:CVLT) Price Target to $112.00

Commvault Systems (NASDAQ:CVLT) had its price objective lifted by Royal Bank of Canada from $97.00 to $112.00 in a report released on Wednesday, Benzinga reports. They currently have a sector perform rating on the software maker’s stock.

Separately, KeyCorp raised their price target on shares of Commvault Systems from $109.00 to $122.00 and gave the company an overweight rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $114.25.

Commvault Systems Trading Up 2.5 %

Commvault Systems stock opened at $107.43 on Wednesday. The stock has a 50-day moving average price of $98.47 and a two-hundred day moving average price of $84.99. Commvault Systems has a 12 month low of $60.43 and a 12 month high of $109.25. The company has a market capitalization of $4.70 billion, a PE ratio of 28.57 and a beta of 0.64.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share (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 company had revenue of $216.81 million during the quarter, compared to the consensus estimate of $208.01 million. During the same quarter in the prior year, the firm posted $0.17 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. As a group, analysts predict that Commvault Systems will post 1.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Commvault Systems

In other news, CEO Sanjay Mirchandani sold 21,494 shares of the business’s 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 transaction, the chief executive officer now owns 399,356 shares in the company, valued at approximately $39,065,003.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Allison Pickens sold 990 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $94.73, for a total transaction of $93,782.70. Following the completion of the sale, the director now owns 7,206 shares of the company’s stock, valued at $682,624.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mirchandani sold 21,494 shares of the business’s 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 transaction, the chief executive officer now directly owns 399,356 shares in the company, valued at $39,065,003.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,306 shares of company stock valued at $2,276,265. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Commvault Systems

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Commvault Systems by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 5,488,370 shares of the software maker’s stock worth $438,246,000 after acquiring an additional 61,556 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Commvault Systems by 0.3% during the 3rd quarter. Mackenzie Financial Corp now owns 1,917,009 shares of the software maker’s stock worth $128,593,000 after purchasing an additional 6,130 shares in the last quarter. Invesco Ltd. grew its stake in shares of Commvault Systems by 50.9% in the 3rd quarter. Invesco Ltd. now owns 629,282 shares of the software maker’s stock valued at $42,546,000 after buying an additional 212,325 shares during the period. Charles Schwab Investment Management Inc. increased its position in Commvault Systems by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 472,291 shares of the software maker’s stock valued at $37,712,000 after buying an additional 12,624 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Commvault Systems by 14.9% during the 3rd quarter. AQR Capital Management LLC now owns 345,628 shares of the software maker’s stock worth $23,368,000 after buying an additional 44,816 shares during the period. Institutional investors own 93.50% of the company’s stock.

Commvault Systems Company Profile

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.