Commvault Systems, Inc. (NASDAQ:CVLT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Commvault Systems, Inc. (NASDAQ:CVLT) have been assigned a consensus recommendation of “Moderate Buy” from the four brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $85.60.

Several analysts have issued reports on CVLT shares. KeyCorp upgraded Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 target price for the company in a report on Wednesday, January 31st. Royal Bank of Canada upped their target price on Commvault Systems from $86.00 to $97.00 and gave the company a “sector perform” rating in a report on Wednesday, January 31st.

Commvault Systems Stock Performance

Shares of CVLT opened at $100.26 on Thursday. Commvault Systems has a one year low of $54.90 and a one year high of $101.00. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of -3,340.89 and a beta of 0.61. The stock has a 50 day moving average price of $93.39 and a 200 day moving average price of $79.34.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.73 by $0.05. Commvault Systems had a positive return on equity of 32.27% and a negative net margin of 0.09%. The firm 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 business earned $0.17 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, analysts predict that Commvault Systems will post 1.35 earnings per share for the current year.

Insider Activity

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 transaction, the director now owns 7,206 shares in the company, valued at approximately $682,624.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Sanjay Mirchandani sold 21,494 shares of Commvault Systems stock in a transaction on Monday, March 4th. The stock was sold at an average price of $97.82, for a total transaction of $2,102,543.08. Following the completion of the transaction, the chief executive officer now directly owns 399,356 shares of the company’s stock, valued at $39,065,003.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Allison Pickens sold 990 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $94.73, for a total value of $93,782.70. Following the transaction, 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. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Commvault Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC lifted its stake in shares of Commvault Systems by 27.6% during the third quarter. Lazard Asset Management LLC now owns 70,516 shares of the software maker’s stock worth $4,766,000 after purchasing an additional 15,249 shares in the last quarter. Tudor Investment Corp Et Al acquired a new position in shares of Commvault Systems during the third quarter worth about $2,611,000. Qube Research & Technologies Ltd acquired a new position in shares of Commvault Systems during the third quarter worth about $2,974,000. Quantedge Capital Pte Ltd lifted its stake in shares of Commvault Systems by 791.7% during the third quarter. Quantedge Capital Pte Ltd now owns 53,500 shares of the software maker’s stock worth $3,617,000 after purchasing an additional 47,500 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Commvault Systems by 14.9% during the third quarter. AQR Capital Management LLC now owns 345,628 shares of the software maker’s stock worth $23,368,000 after purchasing an additional 44,816 shares in 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.