Commvault Systems, Inc. (NASDAQ:CVLT – Get Rating) has received a consensus recommendation of "Moderate Buy" from the eight research firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $74.67.
Several research analysts have recently issued reports on the company. Lake Street Capital lowered their price objective on Commvault Systems from $68.00 to $64.00 in a research report on Wednesday, July 27th. Wells Fargo & Company cut their price objective on shares of Commvault Systems to $75.00 and set an "outperform" rating on the stock in a report on Wednesday, July 27th. Finally, Piper Sandler cut shares of Commvault Systems from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $78.00 to $69.00 in a report on Wednesday, July 13th.
Get Commvault Systems alerts:Commvault Systems Stock Performance
Shares of Commvault Systems stock opened at $51.76 on Thursday. The business has a 50-day simple moving average of $58.48 and a 200-day simple moving average of $61.24. The company has a market cap of $2.32 billion, a PE ratio of 103.52, a P/E/G ratio of 8.87 and a beta of 0.51. Commvault Systems has a one year low of $50.88 and a one year high of $81.49.
Commvault Systems (NASDAQ:CVLT – Get Rating) last announced its quarterly earnings data on Tuesday, July 26th. The software maker reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.01. The company had revenue of $197.90 million for the quarter, compared to the consensus estimate of $195.21 million. Commvault Systems had a net margin of 2.96% and a return on equity of 13.33%. The company's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 EPS. On average, sell-side analysts predict that Commvault Systems will post 0.59 earnings per share for the current fiscal year.Insider Buying and Selling
In other Commvault Systems news, Director Allison Pickens sold 924 shares of Commvault Systems stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $56.86, for a total value of $52,538.64. Following the transaction, the director now directly owns 9,029 shares in the company, valued at $513,388.94. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.99% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd grew its position in Commvault Systems by 10.1% in the 4th quarter. Point72 Hong Kong Ltd now owns 2,433 shares of the software maker's stock valued at $168,000 after buying an additional 224 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in Commvault Systems during the first quarter worth about $1,156,000. GSA Capital Partners LLP grew its position in Commvault Systems by 4.3% during the fourth quarter. GSA Capital Partners LLP now owns 6,713 shares of the software maker's stock worth $463,000 after buying an additional 274 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Commvault Systems by 20.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,862 shares of the software maker's stock valued at $3,299,000 after buying an additional 8,228 shares in the last quarter. Finally, Keebeck Alpha LP acquired a new stake in shares of Commvault Systems during the 4th quarter valued at approximately $201,000. Institutional investors and hedge funds own 93.97% of the company's stock.
About Commvault Systems
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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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