CommVault Systems, Inc. (NASDAQ:CVLT) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of CommVault Systems, Inc. (NASDAQ:CVLT - Get Free Report) have been given a consensus rating of "Moderate Buy" by the nine brokerages that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $175.25.

CVLT has been the subject of a number of recent analyst reports. Wall Street Zen raised CommVault Systems from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Piper Sandler decreased their price objective on shares of CommVault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. DA Davidson raised their target price on shares of CommVault Systems from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Guggenheim reissued a "neutral" rating on shares of CommVault Systems in a research report on Wednesday, April 23rd. Finally, Royal Bank Of Canada upped their price target on shares of CommVault Systems from $175.00 to $185.00 and gave the company a "sector perform" rating in a report on Wednesday, April 30th.

Insiders Place Their Bets

In related news, Director Nicola Adamo sold 1,500 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $169.74, for a total value of $254,610.00. Following the sale, the director now owns 16,178 shares of the company's stock, valued at $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 SEC, which is available through this hyperlink. Also, CEO Sanjay Mirchandani sold 1,709 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $299,075.00. Following the completion of the transaction, the chief executive officer now directly owns 469,648 shares of the company's stock, valued at $82,188,400. This trade represents a 0.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,957 shares of company stock worth $859,428 in the last ninety days. Insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On CommVault Systems

A number of institutional investors have recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. raised its holdings in shares of CommVault Systems by 3.3% in the 4th quarter. Benjamin Edwards Inc. now owns 1,803 shares of the software maker's stock worth $272,000 after buying an additional 58 shares in the last quarter. Hancock Whitney Corp grew its position in CommVault Systems by 1.0% in the fourth quarter. Hancock Whitney Corp now owns 5,781 shares of the software maker's stock valued at $872,000 after acquiring an additional 60 shares during the period. Frank Rimerman Advisors LLC raised its stake in CommVault Systems by 3.8% during the first quarter. Frank Rimerman Advisors LLC now owns 1,709 shares of the software maker's stock worth $270,000 after acquiring an additional 63 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in shares of CommVault Systems by 1.3% during the first quarter. NorthCrest Asset Manangement LLC now owns 5,753 shares of the software maker's stock valued at $908,000 after acquiring an additional 72 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in shares of CommVault Systems by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker's stock valued at $213,000 after purchasing an additional 75 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

CommVault Systems Trading Down 4.2%

CVLT stock opened at $180.17 on Friday. The firm has a market cap of $7.95 billion, a PE ratio of 106.61 and a beta of 0.75. CommVault Systems has a 1 year low of $117.81 and a 1 year high of $192.01. The company has a fifty day simple moving average of $172.69 and a 200 day simple moving average of $166.51.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.10. The company had revenue of $275.04 million during the quarter, compared to analysts' expectations of $262.52 million. CommVault Systems had a return on equity of 32.31% and a net margin of 7.64%. The business's quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 earnings per share. As a group, analysts forecast that CommVault Systems will post 1.65 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.