Analysts Set CommVault Systems, Inc. (NASDAQ:CVLT) Price Target at $186.14

CommVault Systems, Inc. (NASDAQ:CVLT - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $189.13.

CVLT has been the subject of a number of analyst reports. DA Davidson decreased their price objective on CommVault Systems from $215.00 to $200.00 and set a "buy" rating for the company in a research note on Wednesday. Guggenheim raised CommVault Systems from a "neutral" rating to a "buy" rating and set a $210.00 price objective for the company in a research note on Wednesday. Wells Fargo & Company lifted their price objective 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 lifted their price objective on CommVault Systems from $175.00 to $185.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 30th. Finally, Oppenheimer lifted their price objective on CommVault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th.

Insiders Place Their Bets

In other news, CEO Sanjay Mirchandani sold 1,709 shares of CommVault Systems stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $299,075.00. Following the transaction, the chief executive officer owned 469,648 shares in the company, valued at $82,188,400. This trade represents a 0.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Gary Merrill sold 1,748 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $174.91, for a total transaction of $305,742.68. Following the sale, the insider owned 89,923 shares in the company, valued at $15,728,431.93. The trade was a 1.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,957 shares of company stock worth $859,428. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CommVault Systems

Large investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. boosted its stake in shares of CommVault Systems by 101.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 159 shares of the software maker's stock worth $25,000 after purchasing an additional 80 shares during the period. Quarry LP boosted its position in CommVault Systems by 888.2% in the 4th quarter. Quarry LP now owns 168 shares of the software maker's stock valued at $25,000 after buying an additional 151 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in CommVault Systems in the 1st quarter valued at about $27,000. Whipplewood Advisors LLC boosted its position in CommVault Systems by 584.0% in the 1st quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker's stock valued at $27,000 after buying an additional 146 shares during the period. Finally, Brooklyn Investment Group raised its holdings in shares of CommVault Systems by 8,550.0% in the 1st quarter. Brooklyn Investment Group now owns 173 shares of the software maker's stock valued at $27,000 after purchasing an additional 171 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

CommVault Systems Trading Up 0.5%

NASDAQ:CVLT traded up $0.92 during mid-day trading on Tuesday, hitting $171.77. 140,586 shares of the company's stock traded hands, compared to its average volume of 433,317. The firm has a 50 day moving average of $177.51 and a two-hundred day moving average of $167.50. CommVault Systems has a 12 month low of $119.67 and a 12 month high of $192.01. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of 101.64 and a beta of 0.73.

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