DA Davidson Boosts Commvault Systems (NASDAQ:CVLT) Price Target to $200.00

Commvault Systems (NASDAQ:CVLT) had its target price upped by DA Davidson from $185.00 to $200.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. DA Davidson’s price objective suggests a potential upside of 19.67% from the company’s previous close.

A number of other equities research analysts also recently commented on the stock. KeyCorp cut their target price on shares of Commvault Systems from $195.00 to $185.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Cantor Fitzgerald increased their target price on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. Guggenheim reaffirmed a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, April 23rd. Finally, StockNews.com raised shares of Commvault Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $166.67.

Commvault Systems Trading Down 0.9 %

Shares of CVLT opened at $167.13 on Tuesday. The company has a market cap of $7.35 billion, a price-to-earnings ratio of 43.87 and a beta of 0.68. The business’s fifty day simple moving average is $158.49 and its two-hundred day simple moving average is $161.76. Commvault Systems has a 12 month low of $101.54 and a 12 month high of $190.11.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, beating the consensus estimate of $0.93 by $0.10. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. The company had revenue of $275.04 million for the quarter, compared to analysts’ expectations of $262.52 million. During the same period last year, the firm posted $0.79 earnings per share. Commvault Systems’s revenue was up 23.2% compared to the same quarter last year. As a group, research analysts forecast that Commvault Systems will post 1.65 EPS for the current year.

Insider Transactions at Commvault Systems

In related news, insider Gary Merrill sold 3,287 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total value of $614,471.78. Following the completion of the transaction, the insider now owns 87,316 shares of the company’s stock, valued at approximately $16,322,853.04. This represents a 3.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total value of $2,290,655.28. Following the sale, the chief executive officer now directly owns 427,231 shares in the company, valued at approximately $79,447,876.76. This represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC boosted its position in shares of Commvault Systems by 63.9% during the fourth quarter. Virtu Financial LLC now owns 8,243 shares of the software maker’s stock worth $1,244,000 after acquiring an additional 3,214 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Commvault Systems by 0.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 632,870 shares of the software maker’s stock worth $95,506,000 after purchasing an additional 4,957 shares in the last quarter. Banco Santander S.A. bought a new position in shares of Commvault Systems during the 4th quarter valued at about $833,000. New Age Alpha Advisors LLC purchased a new position in shares of Commvault Systems during the fourth quarter valued at about $1,387,000. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Commvault Systems in the fourth quarter worth about $367,000. 93.50% of the stock is currently owned by institutional investors.

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.