Commvault Systems (NASDAQ:CVLT) PT Raised to $175.00 at DA Davidson

Commvault Systems (NASDAQ:CVLT) had its price objective hoisted by DA Davidson from $170.00 to $175.00 in a report issued on Friday, Benzinga reports. They currently have a buy rating on the software maker’s stock.

CVLT has been the topic of a number of other reports. KeyCorp upped their target price on shares of Commvault Systems from $140.00 to $170.00 and gave the company an overweight rating in a research report on Wednesday, July 31st. Wells Fargo & Company lifted their target price on shares of Commvault Systems from $125.00 to $140.00 and gave the stock an overweight rating in a report on Thursday, May 16th. Piper Sandler increased their price target on Commvault Systems from $107.00 to $123.00 and gave the company a neutral rating in a research note on Monday, July 15th. Guggenheim restated a buy rating and issued a $122.00 price target on shares of Commvault Systems in a research report on Tuesday, June 25th. Finally, StockNews.com downgraded Commvault Systems from a strong-buy rating to a buy rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $140.00.

Commvault Systems Trading Down 5.8 %

CVLT opened at $139.53 on Friday. Commvault Systems has a 1-year low of $63.70 and a 1-year high of $157.13. The firm has a 50-day moving average price of $137.57 and a two-hundred day moving average price of $115.83. The stock has a market capitalization of $6.11 billion, a PE ratio of 37.11 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.12. The firm had revenue of $224.67 million during the quarter, compared to analysts’ expectations of $215.54 million. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. Commvault Systems’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.29 EPS. On average, research analysts predict that Commvault Systems will post 1.66 EPS for the current year.

Insiders Place Their Bets

In other news, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.89, for a total transaction of $189,592.48. Following the sale, the director now owns 7,131 shares of the company’s stock, valued at $1,097,389.59. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Gary Merrill sold 17,388 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total value of $2,621,414.88. Following the sale, the insider now directly owns 94,530 shares in the company, valued at $14,251,342.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Allison Pickens sold 1,232 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the transaction, the director now owns 7,131 shares of the company’s stock, valued at $1,097,389.59. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Commvault Systems

Institutional investors have recently bought and sold shares of the company. Champlain Investment Partners LLC raised its holdings in shares of Commvault Systems by 58.5% in the first quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker’s stock valued at $83,704,000 after purchasing an additional 304,459 shares during the last quarter. Norges Bank bought a new position in Commvault Systems in the fourth quarter valued at $24,134,000. Acadian Asset Management LLC increased its stake in Commvault Systems by 16.3% in the 1st quarter. Acadian Asset Management LLC now owns 1,596,635 shares of the software maker’s stock valued at $161,914,000 after buying an additional 223,347 shares during the last quarter. AQR Capital Management LLC lifted its position in Commvault Systems by 33.5% during the 2nd quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock worth $78,882,000 after buying an additional 162,722 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Commvault Systems by 7.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock valued at $220,466,000 after acquiring an additional 126,800 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

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.