Commvault Systems (NASDAQ:CVLT) Now Covered by Cantor Fitzgerald

Research analysts at Cantor Fitzgerald assumed coverage on shares of Commvault Systems (NASDAQ:CVLT - Get Free Report) in a note issued to investors on Friday, Marketbeat.com reports. The brokerage set a "neutral" rating and a $159.00 price target on the software maker's stock. Cantor Fitzgerald's price objective points to a potential downside of 1.45% from the stock's previous close.

Several other brokerages have also recently issued reports on CVLT. Oppenheimer assumed coverage on Commvault Systems in a research note on Wednesday, November 13th. They issued an "outperform" rating and a $200.00 price objective on the stock. KeyCorp started coverage on Commvault Systems in a research report on Thursday. They set an "overweight" rating and a $192.00 price target on the stock. StockNews.com downgraded Commvault Systems from a "strong-buy" rating to a "buy" rating in a report on Thursday. Guggenheim cut shares of Commvault Systems from a "buy" rating to a "neutral" rating in a report on Tuesday, October 15th. Finally, Royal Bank of Canada boosted their price target on shares of Commvault Systems from $164.00 to $182.00 and gave the company a "sector perform" rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Commvault Systems has a consensus rating of "Moderate Buy" and an average target price of $154.56.

Commvault Systems Stock Performance

CVLT stock traded down $0.37 during midday trading on Friday, reaching $161.34. The company's stock had a trading volume of 191,681 shares, compared to its average volume of 317,047. Commvault Systems has a 1 year low of $77.56 and a 1 year high of $178.72. The firm has a market capitalization of $7.06 billion, a price-to-earnings ratio of 40.84 and a beta of 0.65. The stock has a fifty day simple moving average of $165.13 and a two-hundred day simple moving average of $151.43.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, topping the consensus estimate of $0.76 by $0.07. The company had revenue of $233.28 million for the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The firm's revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 EPS. As a group, analysts forecast that Commvault Systems will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, CEO Sanjay Mirchandani sold 10,775 shares of the company's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the transaction, the chief executive officer now owns 459,969 shares in the company, valued at approximately $76,032,875.70. This represents a 2.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction on Friday, November 29th. The stock was sold at an average price of $172.50, for a total transaction of $212,520.00. Following the sale, the director now owns 5,899 shares of the company's stock, valued at $1,017,577.50. The trade was a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,530 shares of company stock worth $2,244,755. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Commvault Systems in the 3rd quarter worth approximately $33,000. Point72 DIFC Ltd purchased a new stake in shares of Commvault Systems in the 3rd quarter valued at $71,000. Signaturefd LLC raised its holdings in shares of Commvault Systems by 43.9% during the third quarter. Signaturefd LLC now owns 590 shares of the software maker's stock worth $91,000 after purchasing an additional 180 shares during the last quarter. TD Private Client Wealth LLC acquired a new position in Commvault Systems during the third quarter valued at $105,000. Finally, Centaurus Financial Inc. purchased a new stake in Commvault Systems in the third quarter valued at $126,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

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.