Commvault Systems (NASDAQ:CVLT) Given Buy Rating at Guggenheim

Commvault Systems (NASDAQ:CVLTGet Free Report)‘s stock had its “buy” rating reaffirmed by analysts at Guggenheim in a report released on Tuesday, Benzinga reports. They presently have a $122.00 target price on the software maker’s stock. Guggenheim’s price target would suggest a potential upside of 0.96% from the stock’s current price.

Several other equities analysts have also commented on CVLT. Royal Bank of Canada upped their target price on Commvault Systems from $97.00 to $112.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 1st. Wells Fargo & Company upped their target price on Commvault Systems from $125.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, May 16th. KeyCorp upped their target price on Commvault Systems from $109.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. DA Davidson upped their target price on Commvault Systems from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Finally, Lake Street Capital upped their target price on Commvault Systems from $86.00 to $98.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Commvault Systems currently has a consensus rating of “Moderate Buy” and an average target price of $121.50.

View Our Latest Stock Report on Commvault Systems

Commvault Systems Stock Performance

CVLT stock traded up $1.70 during midday trading on Tuesday, hitting $120.84. 84,279 shares of the stock were exchanged, compared to its average volume of 328,616. The stock’s 50-day moving average price is $108.62 and its 200-day moving average price is $96.08. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 32.14 and a beta of 0.60. Commvault Systems has a fifty-two week low of $63.70 and a fifty-two week high of $121.25.

Commvault Systems (NASDAQ:CVLTGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.10. Commvault Systems had a return on equity of 31.27% and a net margin of 20.13%. The firm had revenue of $223.29 million during the quarter, compared to analysts’ expectations of $213.00 million. Research analysts anticipate that Commvault Systems will post 1.7 EPS for the current year.

Insider Buying and Selling at Commvault Systems

In other news, Director Vivie Lee sold 2,500 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $112.19, for a total value of $280,475.00. Following the completion of the sale, the director now owns 13,589 shares of the company’s stock, valued at $1,524,549.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Vivie Lee sold 2,500 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $112.19, for a total value of $280,475.00. Following the completion of the transaction, the director now owns 13,589 shares of the company’s stock, valued at $1,524,549.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles E. Moran sold 11,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $110.83, for a total value of $1,219,130.00. Following the completion of the transaction, the director now directly owns 10,967 shares of the company’s stock, valued at approximately $1,215,472.61. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,816 shares of company stock valued at $6,613,874. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

Several institutional investors and hedge funds have recently bought and sold shares of CVLT. Headlands Technologies LLC acquired a new stake in Commvault Systems during the fourth quarter valued at approximately $67,000. Daiwa Securities Group Inc. raised its stake in Commvault Systems by 700.0% during the first quarter. Daiwa Securities Group Inc. now owns 800 shares of the software maker’s stock valued at $81,000 after buying an additional 700 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Commvault Systems by 28.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,429 shares of the software maker’s stock worth $97,000 after purchasing an additional 317 shares during the period. EntryPoint Capital LLC raised its position in shares of Commvault Systems by 123.9% during the 1st quarter. EntryPoint Capital LLC now owns 1,263 shares of the software maker’s stock worth $128,000 after purchasing an additional 699 shares during the period. Finally, Ulland Investment Advisors LLC acquired a new stake in shares of Commvault Systems during the 1st quarter worth approximately $180,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Commvault Systems Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Commvault Systems (NASDAQ:CVLT)

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