Commvault Systems (NASDAQ:CVLT) PT Raised to $112.00 at Royal Bank of Canada

Commvault Systems (NASDAQ:CVLT) had its price objective hoisted by stock analysts at Royal Bank of Canada from $97.00 to $112.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the software maker’s stock. Royal Bank of Canada’s target price indicates a potential upside of 9.60% from the stock’s previous close.

Separately, KeyCorp raised their price target on Commvault Systems from $109.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $91.20.

Commvault Systems Price Performance

Shares of NASDAQ:CVLT traded down $0.28 during trading on Wednesday, hitting $102.19. 201,726 shares of the company’s stock were exchanged, compared to its average volume of 303,386. Commvault Systems has a 52-week low of $58.67 and a 52-week high of $107.46. The business’s 50-day simple moving average is $97.79 and its 200 day simple moving average is $84.45. The company has a market cap of $4.47 billion, a price-to-earnings ratio of -3,398.53 and a beta of 0.62.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.05. The business had revenue of $216.81 million during the quarter, compared to analysts’ expectations of $208.01 million. Commvault Systems had a positive return on equity of 32.27% and a negative net margin of 0.09%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 EPS. On average, sell-side analysts anticipate that Commvault Systems will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, Director Allison Pickens sold 990 shares of Commvault Systems stock in a transaction on Monday, February 26th. The stock was sold at an average price of $94.73, for a total transaction of $93,782.70. Following the completion of the sale, the director now directly owns 7,206 shares of the company’s stock, valued at approximately $682,624.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Gary Merrill sold 822 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $97.25, for a total transaction of $79,939.50. Following the transaction, the chief financial officer now directly owns 87,945 shares in the company, valued at approximately $8,552,651.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Allison Pickens sold 990 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $94.73, for a total value of $93,782.70. Following the transaction, the director now owns 7,206 shares in the company, valued at $682,624.38. The disclosure for this sale can be found here. Insiders sold a total of 23,306 shares of company stock valued at $2,276,265 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVLT. Simplicity Solutions LLC grew its stake in Commvault Systems by 7.6% during the 3rd quarter. Simplicity Solutions LLC now owns 5,642 shares of the software maker’s stock worth $381,000 after buying an additional 397 shares during the last quarter. Bailard Inc. grew its stake in Commvault Systems by 14.0% during the 3rd quarter. Bailard Inc. now owns 4,900 shares of the software maker’s stock valued at $331,000 after purchasing an additional 600 shares during the last quarter. Mackenzie Financial Corp grew its stake in Commvault Systems by 0.3% during the 3rd quarter. Mackenzie Financial Corp now owns 1,917,009 shares of the software maker’s stock valued at $128,593,000 after purchasing an additional 6,130 shares during the last quarter. Strs Ohio grew its stake in Commvault Systems by 1.8% during the 3rd quarter. Strs Ohio now owns 16,600 shares of the software maker’s stock valued at $1,122,000 after purchasing an additional 300 shares during the last quarter. Finally, Inspire Investing LLC grew its stake in Commvault Systems by 5.4% during the 3rd quarter. Inspire Investing LLC now owns 4,548 shares of the software maker’s stock valued at $307,000 after purchasing an additional 231 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other 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.