Commvault Systems, Inc. (NASDAQ:CVLT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Commvault Systems, Inc. (NASDAQ:CVLT) have been assigned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $175.25.

Several brokerages have recently weighed in on CVLT. Wells Fargo & Company upped their target price on Commvault Systems from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Royal Bank of Canada boosted their price target on Commvault Systems from $175.00 to $185.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 30th. DA Davidson boosted their price target on Commvault Systems from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Cantor Fitzgerald boosted their price target on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Oppenheimer boosted their price target on Commvault Systems from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th.

Insider Activity

In other Commvault Systems news, Director Nicola Adamo sold 1,500 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $169.74, for a total transaction of $254,610.00. Following the completion of the sale, the director now owns 16,178 shares of the company’s stock, valued at approximately $2,746,053.72. The trade was a 8.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC boosted its holdings in Commvault Systems by 2.9% in the first quarter. Acadian Asset Management LLC now owns 1,505,357 shares of the software maker’s stock valued at $237,454,000 after purchasing an additional 43,075 shares during the last quarter. Intech Investment Management LLC raised its stake in Commvault Systems by 7.0% during the first quarter. Intech Investment Management LLC now owns 52,877 shares of the software maker’s stock valued at $8,342,000 after buying an additional 3,466 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Commvault Systems by 8.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,410 shares of the software maker’s stock valued at $23,255,000 after buying an additional 11,700 shares in the last quarter. Empowered Funds LLC acquired a new stake in Commvault Systems during the first quarter valued at approximately $5,659,000. Finally, Axiom Investors LLC DE acquired a new stake in Commvault Systems during the first quarter valued at approximately $8,168,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Commvault Systems Stock Down 0.6%

NASDAQ:CVLT opened at $174.43 on Monday. The stock has a market cap of $7.70 billion, a P/E ratio of 45.78 and a beta of 0.71. The firm’s fifty day simple moving average is $163.32 and its 200 day simple moving average is $164.91. Commvault Systems has a twelve month low of $105.76 and a twelve month high of $190.11.

Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. The firm had revenue of $275.04 million for the quarter, compared to analysts’ expectations of $262.52 million. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. The company’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.79 EPS. On average, analysts expect that Commvault Systems will post 1.65 EPS for the current fiscal year.

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.