Commvault Systems (NASDAQ:CVLT) Price Target Increased to $112.00 by Analysts at Royal Bank of Canada

Commvault Systems (NASDAQ:CVLT) had its price objective boosted by Royal Bank of Canada from $97.00 to $112.00 in a research note issued to investors on Wednesday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the software maker’s stock.

Separately, KeyCorp increased their price target on Commvault Systems from $109.00 to $122.00 and gave the company an overweight rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $104.40.

Commvault Systems Stock Performance

CVLT stock opened at $102.71 on Wednesday. The company has a market capitalization of $4.50 billion, a P/E ratio of -3,422.53 and a beta of 0.62. The company has a fifty day moving average price of $98.00 and a 200-day moving average price of $84.57. Commvault Systems has a 52-week low of $58.67 and a 52-week high of $107.46.

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

Insider Buying and Selling

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

Institutional Trading of Commvault Systems

Several hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC bought a new position in Commvault Systems during the fourth quarter worth $67,000. PNC Financial Services Group Inc. raised its holdings in shares of Commvault Systems by 28.5% during the third quarter. PNC Financial Services Group Inc. now owns 1,429 shares of the software maker’s stock valued at $97,000 after purchasing an additional 317 shares during the period. Ulland Investment Advisors LLC bought a new position in shares of Commvault Systems during the 1st quarter worth about $180,000. Vise Technologies Inc. acquired a new stake in shares of Commvault Systems in the 4th quarter valued at about $212,000. Finally, Marks Group Wealth Management Inc acquired a new stake in shares of Commvault Systems in the 1st quarter valued at about $219,000. Institutional investors own 93.50% of the company’s stock.

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.