Commvault Systems (NASDAQ:CVLT) PT Raised to $135.00

Commvault Systems (NASDAQ:CVLT) had its price objective raised by DA Davidson from $125.00 to $135.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a buy rating on the software maker’s stock.

CVLT has been the subject of several other research reports. Royal Bank of Canada raised their price objective on shares of Commvault Systems from $97.00 to $112.00 and gave the company a sector perform rating in a research note on Wednesday, May 1st. Wells Fargo & Company raised their price objective on shares of Commvault Systems from $125.00 to $140.00 and gave the company an overweight rating in a research note on Thursday, May 16th. Lake Street Capital lifted their target price on shares of Commvault Systems from $86.00 to $98.00 and gave the stock a hold rating in a research report on Wednesday, May 1st. Finally, KeyCorp lifted their target price on shares of Commvault Systems from $109.00 to $122.00 and gave the stock an overweight rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Commvault Systems has an average rating of Moderate Buy and an average target price of $121.40.

Commvault Systems Stock Up 1.8 %

Shares of NASDAQ:CVLT opened at $116.54 on Friday. Commvault Systems has a fifty-two week low of $63.70 and a fifty-two week high of $119.51. The firm’s 50-day simple moving average is $106.04 and its 200-day simple moving average is $94.25. The company has a market cap of $5.06 billion, a price-to-earnings ratio of 30.99 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.42 EPS for the quarter, beating the consensus estimate of $0.32 by $0.10. Commvault Systems had a net margin of 20.13% and a return on equity of 31.27%. The firm had revenue of $223.29 million during the quarter, compared to analysts’ expectations of $213.00 million. On average, research analysts forecast that Commvault Systems will post 1.7 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Sanjay Mirchandani sold 15,975 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $110.20, for a total value of $1,760,445.00. Following the completion of the sale, the chief executive officer now directly owns 539,465 shares in the company, valued at $59,449,043. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Sanjay Mirchandani sold 15,975 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $110.20, for a total value of $1,760,445.00. Following the completion of the transaction, the chief executive officer now directly owns 539,465 shares in the company, valued at $59,449,043. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles E. Moran sold 11,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $110.83, for a total transaction of $1,219,130.00. Following the completion of the transaction, the director now owns 10,967 shares of the company’s stock, valued at $1,215,472.61. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,816 shares of company stock worth $6,613,874. Insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

Several institutional investors have recently added to or reduced their stakes in CVLT. State Board of Administration of Florida Retirement System raised its holdings in Commvault Systems by 3.8% in the third quarter. State Board of Administration of Florida Retirement System now owns 13,166 shares of the software maker’s stock valued at $890,000 after acquiring an additional 480 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of Commvault Systems by 5.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 36,261 shares of the software maker’s stock worth $2,452,000 after acquiring an additional 1,883 shares during the last quarter. UBS Group AG grew its position in Commvault Systems by 24.6% in the 3rd quarter. UBS Group AG now owns 45,207 shares of the software maker’s stock valued at $3,056,000 after buying an additional 8,929 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in Commvault Systems in the 3rd quarter valued at about $269,000. Finally, PNC Financial Services Group Inc. grew its position in Commvault Systems by 28.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,429 shares of the software maker’s stock valued at $97,000 after buying an additional 317 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

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.