Commvault Systems, Inc. (NASDAQ:CVLT – Get Rating) has been assigned an average recommendation of "Moderate Buy" from the eight ratings firms that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $74.67.
A number of brokerages have recently weighed in on CVLT. Piper Sandler cut Commvault Systems from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $78.00 to $69.00 in a research report on Wednesday, July 13th. Lake Street Capital decreased their price objective on Commvault Systems from $68.00 to $64.00 in a research note on Wednesday, July 27th. Finally, Wells Fargo & Company decreased their price objective on Commvault Systems to $75.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 27th.
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In other Commvault Systems news, Director Allison Pickens sold 924 shares of the firm's stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $56.86, for a total value of $52,538.64. Following the sale, the director now directly owns 9,029 shares of the company's stock, valued at approximately $513,388.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.99% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Exchange Traded Concepts LLC purchased a new position in Commvault Systems in the first quarter valued at about $29,000. Captrust Financial Advisors raised its position in Commvault Systems by 64.0% in the second quarter. Captrust Financial Advisors now owns 510 shares of the software maker's stock valued at $32,000 after purchasing an additional 199 shares during the period. Quantbot Technologies LP purchased a new position in Commvault Systems in the second quarter valued at about $64,000. EverSource Wealth Advisors LLC purchased a new position in Commvault Systems in the second quarter valued at about $65,000. Finally, Lazard Asset Management LLC raised its position in Commvault Systems by 63.1% in the first quarter. Lazard Asset Management LLC now owns 1,321 shares of the software maker's stock valued at $87,000 after purchasing an additional 511 shares during the period. 93.97% of the stock is owned by institutional investors and hedge funds.Commvault Systems Stock Down 0.7 %
Shares of CVLT stock opened at $52.54 on Thursday. Commvault Systems has a fifty-two week low of $52.01 and a fifty-two week high of $84.22. The stock has a market cap of $2.35 billion, a P/E ratio of 105.80, a P/E/G ratio of 9.22 and a beta of 0.51. The business has a fifty day simple moving average of $59.67 and a 200-day simple moving average of $61.69.
Commvault Systems (NASDAQ:CVLT – Get Rating) last announced its quarterly earnings results on Tuesday, July 26th. The software maker reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.01. Commvault Systems had a return on equity of 13.33% and a net margin of 2.96%. The business had revenue of $197.90 million during the quarter, compared to analysts' expectations of $195.21 million. During the same quarter last year, the business posted $0.34 earnings per share. The business's revenue for the quarter was up 7.9% on a year-over-year basis. On average, sell-side analysts anticipate that Commvault Systems will post 0.59 earnings per share for the current year.
Commvault Systems Company Profile
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Commvault Systems, Inc provides data protection and information management software applications and related services 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; and Commvault Complete Data Protection, a data protection solution.
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