Commvault Systems’ (CVLT) Buy Rating Reiterated at Guggenheim

Guggenheim reissued their buy rating on shares of Commvault Systems (NASDAQ:CVLT) in a research note released on Tuesday morning, Benzinga reports. They currently have a $122.00 target price on the software maker’s stock.

A number of other brokerages have also recently weighed in on CVLT. Lake Street Capital upped their price target on Commvault Systems from $86.00 to $98.00 and gave the company a hold rating in a research report on Wednesday, May 1st. DA Davidson increased their target price on shares of Commvault Systems from $125.00 to $135.00 and gave the stock a buy rating in a research report on Friday, June 14th. KeyCorp boosted their price target on shares of Commvault Systems from $109.00 to $122.00 and gave the company an overweight rating in a research report on Wednesday, May 1st. Wells Fargo & Company upped their price objective on shares of Commvault Systems from $125.00 to $140.00 and gave the stock an overweight rating in a research note on Thursday, May 16th. Finally, Royal Bank of Canada lifted their target price 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. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $121.50.

Commvault Systems Stock Performance

Shares of Commvault Systems stock opened at $121.57 on Tuesday. The firm has a market cap of $5.32 billion, a P/E ratio of 32.33 and a beta of 0.60. The firm’s 50-day simple moving average is $110.66 and its 200-day simple moving average is $97.04. Commvault Systems has a twelve month low of $63.70 and a twelve month high of $122.16.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Commvault Systems

Institutional investors and hedge funds have recently modified their holdings of the business. Headlands Technologies LLC acquired a new stake in Commvault Systems during the 4th quarter worth $67,000. Daiwa Securities Group Inc. grew its stake in shares of Commvault Systems by 700.0% during the first quarter. Daiwa Securities Group Inc. now owns 800 shares of the software maker’s stock worth $81,000 after purchasing an additional 700 shares during the period. PNC Financial Services Group Inc. increased its holdings in Commvault Systems by 28.5% in the third quarter. PNC Financial Services Group Inc. now owns 1,429 shares of the software maker’s stock valued at $97,000 after purchasing an additional 317 shares during the last quarter. EntryPoint Capital LLC lifted its stake in Commvault Systems by 123.9% in the first quarter. EntryPoint Capital LLC now owns 1,263 shares of the software maker’s stock valued at $128,000 after buying an additional 699 shares during the period. Finally, Ulland Investment Advisors LLC bought a new position in Commvault Systems during the first quarter worth about $180,000. 93.50% of the stock is owned by institutional investors.

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.