Brokerages Set Commvault Systems, Inc. (NASDAQ:CVLT) Target Price at $144.29

Shares of Commvault Systems, Inc. (NASDAQ:CVLT - Get Free Report) have earned an average recommendation of "Hold" from the seven ratings firms that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $144.29.

CVLT has been the subject of several analyst reports. Piper Sandler increased their price target on shares of Commvault Systems from $107.00 to $123.00 and gave the stock a "neutral" rating in a report on Monday, July 15th. StockNews.com cut shares of Commvault Systems from a "strong-buy" rating to a "buy" rating in a report on Friday, November 1st. KeyCorp increased their price target on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an "overweight" rating in a report on Wednesday, July 31st. Guggenheim cut shares of Commvault Systems from a "buy" rating to a "neutral" rating in a report on Tuesday, October 15th. Finally, DA Davidson increased their price target on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a "buy" rating in a report on Friday, September 6th.

Insiders Place Their Bets

In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the company's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the transaction, the insider now directly owns 94,530 shares in the company, valued at approximately $14,251,342.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Gary Merrill sold 17,388 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allison Pickens sold 1,232 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.89, for a total transaction of $189,592.48. Following the completion of the sale, the director now owns 7,131 shares in the company, valued at $1,097,389.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Commvault Systems

Several large investors have recently modified their holdings of the business. SG Americas Securities LLC boosted its position in Commvault Systems by 504.6% during the second quarter. SG Americas Securities LLC now owns 13,016 shares of the software maker's stock worth $1,582,000 after acquiring an additional 10,863 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its position in Commvault Systems by 23.4% during the first quarter. Ontario Teachers Pension Plan Board now owns 25,770 shares of the software maker's stock worth $2,614,000 after acquiring an additional 4,888 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Commvault Systems during the first quarter worth approximately $595,000. Intech Investment Management LLC acquired a new stake in Commvault Systems during the second quarter worth approximately $2,221,000. Finally, BOKF NA boosted its position in Commvault Systems by 55.3% during the first quarter. BOKF NA now owns 3,119 shares of the software maker's stock worth $313,000 after acquiring an additional 1,110 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Commvault Systems Price Performance

Shares of NASDAQ:CVLT traded down $0.87 on Thursday, reaching $170.97. The company's stock had a trading volume of 106,981 shares, compared to its average volume of 355,382. The stock's 50-day moving average is $150.63 and its two-hundred day moving average is $132.25. Commvault Systems has a 52-week low of $68.02 and a 52-week high of $173.01. The stock has a market capitalization of $7.48 billion, a P/E ratio of 43.23 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.07. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The business had revenue of $233.28 million during the quarter, compared to analysts' expectations of $220.76 million. During the same period in the prior year, the company earned $0.30 earnings per share. The business's revenue was up 16.1% compared to the same quarter last year. Equities analysts forecast that Commvault Systems will post 1.62 earnings per share for the current fiscal year.

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.