Commvault Systems, Inc. (NASDAQ:CVLT) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of Commvault Systems, Inc. (NASDAQ:CVLT - Get Free Report) have earned an average recommendation of "Moderate Buy" from the four analysts that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $85.60.

A number of equities analysts have recently issued reports on the company. KeyCorp upgraded Commvault Systems from a "sector weight" rating to an "overweight" rating and set a $109.00 price objective for the company in a research report on Wednesday, January 31st. Royal Bank of Canada raised their price objective on Commvault Systems from $86.00 to $97.00 and gave the stock a "sector perform" rating in a research report on Wednesday, January 31st.

Commvault Systems Stock Down 2.3 %

Commvault Systems stock traded down $2.24 during trading hours on Monday, hitting $94.25. The stock had a trading volume of 454,358 shares, compared to its average volume of 307,404. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of -3,140.62 and a beta of 0.62. Commvault Systems has a one year low of $56.76 and a one year high of $102.21. The business's 50 day simple moving average is $97.03 and its 200-day simple moving average is $82.03.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last issued its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $216.81 million during the quarter, compared to the consensus estimate of $208.01 million. During the same period last year, the company earned $0.17 earnings per share. The firm's revenue was up 11.1% compared to the same quarter last year. Research analysts anticipate that Commvault Systems will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sanjay Mirchandani sold 21,494 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now owns 399,356 shares of the company's stock, valued at $39,065,003.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Commvault Systems news, CEO Sanjay Mirchandani sold 21,494 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $97.82, for a total value of $2,102,543.08. Following the completion of the sale, the chief executive officer now 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Allison Pickens sold 990 shares of the firm's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $94.73, for a total value of $93,782.70. Following the completion of the sale, 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. Insiders sold 23,306 shares of company stock valued at $2,276,265 over the last 90 days. Company insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in shares of Commvault Systems by 8.6% in the 2nd quarter. BlackRock Inc. now owns 6,019,103 shares of the software maker's stock worth $437,107,000 after buying an additional 478,120 shares during the last quarter. Vanguard Group Inc. grew its position in Commvault Systems by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 5,488,370 shares of the software maker's stock valued at $438,246,000 after buying an additional 61,556 shares during the period. Mackenzie Financial Corp grew its position in Commvault Systems by 0.3% during the third quarter. Mackenzie Financial Corp now owns 1,917,009 shares of the software maker's stock valued at $128,593,000 after buying an additional 6,130 shares during the period. State Street Corp grew its position in Commvault Systems by 2.8% during the second quarter. State Street Corp now owns 1,577,393 shares of the software maker's stock valued at $114,550,000 after buying an additional 42,809 shares during the period. Finally, Morgan Stanley grew its position in Commvault Systems by 26.9% during the third quarter. Morgan Stanley now owns 1,296,825 shares of the software maker's stock valued at $87,678,000 after buying an additional 274,966 shares during the period. 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.