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

Shares of Commvault Systems, Inc. (NASDAQ:CVLT - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the nine research firms that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to 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.

A number of equities analysts recently commented on the stock. StockNews.com upgraded shares of Commvault Systems from a "hold" rating to a "buy" rating in a research report on Thursday. KeyCorp decreased their price objective on Commvault Systems from $195.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company lifted their price target on Commvault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a research note on Wednesday. DA Davidson increased their price objective on Commvault Systems from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Commvault Systems in a research note on Wednesday, April 23rd.

Insider Transactions at Commvault Systems

In other news, insider Gary Merrill sold 3,287 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems stock in a transaction that occurred on 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 owns 427,231 shares in the company, valued at $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 Trading of Commvault Systems

Hedge funds have recently modified their holdings of the business. Virtu Financial LLC bought a new stake in Commvault Systems during the third quarter worth about $774,000. Tidal Investments LLC bought a new stake in shares of Commvault Systems in the 3rd quarter worth approximately $279,000. GAMMA Investing LLC grew its stake in shares of Commvault Systems by 13.7% in the 4th quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker's stock worth $152,000 after buying an additional 121 shares during the last quarter. CWA Asset Management Group LLC increased its position in Commvault Systems by 20.4% during the 4th quarter. CWA Asset Management Group LLC now owns 7,994 shares of the software maker's stock valued at $1,206,000 after buying an additional 1,355 shares in the last quarter. Finally, Oak Ridge Investments LLC purchased a new position in Commvault Systems during the fourth quarter valued at $2,561,000. Institutional investors own 93.50% of the company's stock.

Commvault Systems Trading Up 3.9 %

Shares of NASDAQ CVLT traded up $6.53 during midday trading on Thursday, hitting $172.55. 403,441 shares of the company's stock were exchanged, compared to its average volume of 414,005. The business's fifty day moving average price is $158.48 and its two-hundred day moving average price is $162.05. The company has a market cap of $7.59 billion, a price-to-earnings ratio of 45.29 and a beta of 0.68. Commvault Systems has a 12-month low of $105.76 and a 12-month high of $190.11.

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