Shares of CommVault Systems, Inc. (NASDAQ:CVLT – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the twenty-one ratings firms that are presently covering the stock, MarketBeat.com reports. Ten equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $174.00.
Several equities analysts have weighed in on CVLT shares. Scotiabank lifted their price objective on CommVault Systems from $160.00 to $180.00 and gave the company a “sector perform” rating in a report on Wednesday, October 28th. Jefferies Financial Group upped their target price on CommVault Systems from $130.00 to $170.00 and gave the company a “hold” rating in a report on Monday, October 26th. DA Davidson increased their target price on CommVault Systems from $185.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 28th. Royal Bank Of Canada raised their price objective on CommVault Systems from $160.00 to $180.00 and gave the company a “sector perform” rating in a report on Wednesday, October 28th. Finally, Guggenheim increased their price objective on CommVault Systems from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 28th.
Read Our Latest Analysis on CommVault Systems
CommVault Systems Stock Up 0.5%
Shares of CVLT opened at $158.36 on Monday. CommVault Systems has a 12 month low of $71.75 and a 12 month high of $174.25. The company has a market capitalization of $6.48 billion, a PE ratio of 55.19 and a beta of 0.90. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 70.45. The stock’s 50-day moving average price is $150.61 and its two-hundred day moving average price is $120.09.
CommVault Systems (NASDAQ:CVLT – Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The software maker reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.13. CommVault Systems had a net margin of 6.60% and a return on equity of 169.40%. The company had revenue of $312.39 million during the quarter, compared to analysts’ expectations of $310.41 million. During the same period in the previous year, the company earned $0.91 EPS. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. On average, analysts anticipate that CommVault Systems will post 2.98 EPS for the current year.
Insider Activity at CommVault Systems
In related news, CFO Gary Merrill sold 1,293 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $142.80, for a total transaction of $184,640.40. Following the transaction, the chief financial officer directly owned 69,628 shares of the company’s stock, valued at approximately $9,942,878.40. This trade represents a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Sanjay Mirchandani sold 6,857 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $142.80, for a total transaction of $979,179.60. Following the sale, the chief executive officer owned 257,676 shares of the company’s stock, valued at $36,796,132.80. This represents a 2.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 29,348 shares of company stock worth $4,202,441. 0.86% of the stock is currently owned by insiders.
Institutional Trading of CommVault Systems
A number of hedge funds have recently bought and sold shares of CVLT. Vise Technologies Inc. lifted its position in shares of CommVault Systems by 1.8% in the 3rd quarter. Vise Technologies Inc. now owns 3,562 shares of the software maker’s stock worth $534,000 after acquiring an additional 64 shares during the period. GAMMA Investing LLC increased its stake in shares of CommVault Systems by 4.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,626 shares of the software maker’s stock worth $244,000 after purchasing an additional 67 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of CommVault Systems by 15.8% in the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the software maker’s stock worth $84,000 after buying an additional 81 shares during the period. Fulcrum Asset Management LLP increased its stake in shares of CommVault Systems by 75.7% during the third quarter. Fulcrum Asset Management LLP now owns 246 shares of the software maker’s stock worth $36,000 after purchasing an additional 106 shares in the last quarter. Finally, Summit Global Investments raised its position in shares of CommVault Systems by 3.9% during the 3rd quarter. Summit Global Investments now owns 3,522 shares of the software maker’s stock worth $528,000 after acquiring an additional 131 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.
About CommVault Systems
Commvault Systems, Inc develops data protection and cyber resilience software and services for businesses, government organizations and other institutions. Its platform is designed to help customers back up, recover, manage and secure data across on-premises infrastructure, private and public clouds, software-as-a-service applications and other distributed IT environments.
The company’s offerings include backup and recovery, disaster recovery, data security, ransomware protection, cyber-recovery capabilities and data management tools.
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