Cantor Fitzgerald Begins Coverage on Commvault Systems (NASDAQ:CVLT)

Stock analysts at Cantor Fitzgerald initiated coverage on shares of Commvault Systems (NASDAQ:CVLT) in a research report issued on Friday,Briefing.com Automated Import reports. The firm set a “neutral” rating and a $159.00 price target on the software maker’s stock. Cantor Fitzgerald’s price target points to a potential downside of 1.68% from the company’s current price.

CVLT has been the topic of a number of other research reports. KeyCorp started coverage on Commvault Systems in a research report on Thursday. They issued an “overweight” rating and a $192.00 target price on the stock. Guggenheim lowered Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Royal Bank of Canada increased their price objective on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Oppenheimer initiated coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 target price on the stock. Finally, StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $154.56.

Commvault Systems Stock Up 0.2 %

NASDAQ:CVLT opened at $161.71 on Friday. The company has a market cap of $7.07 billion, a P/E ratio of 40.94 and a beta of 0.65. Commvault Systems has a twelve month low of $77.31 and a twelve month high of $178.72. The business has a 50 day moving average price of $165.13 and a two-hundred day moving average price of $151.43.

Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, topping the consensus estimate of $0.76 by $0.07. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The business had revenue of $233.28 million during the quarter, compared to analysts’ expectations of $220.76 million. During the same quarter in the prior year, the company posted $0.30 earnings per share. The firm’s revenue was up 16.1% on a year-over-year basis. As a group, analysts anticipate that Commvault Systems will post 1.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction of $212,520.00. Following the completion of the sale, the director now directly owns 5,899 shares in the company, valued at $1,017,577.50. This trade represents a 17.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Gary Merrill sold 1,523 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $164.89, for a total value of $251,127.47. Following the sale, the insider now owns 93,007 shares of the company’s stock, valued at approximately $15,335,924.23. This represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,530 shares of company stock valued at $2,244,755 in the last quarter. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Commvault Systems

Hedge funds and other institutional investors have recently modified their holdings of the company. Fort Washington Investment Advisors Inc. OH grew its stake in shares of Commvault Systems by 0.3% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 116,772 shares of the software maker’s stock valued at $17,622,000 after acquiring an additional 300 shares in the last quarter. Diversify Wealth Management LLC grew its position in shares of Commvault Systems by 19.3% during the 4th quarter. Diversify Wealth Management LLC now owns 4,033 shares of the software maker’s stock worth $621,000 after purchasing an additional 653 shares in the last quarter. Ellsworth Advisors LLC increased its holdings in shares of Commvault Systems by 4.8% during the fourth quarter. Ellsworth Advisors LLC now owns 4,454 shares of the software maker’s stock worth $672,000 after purchasing an additional 202 shares during the period. Oak Ridge Investments LLC acquired a new stake in shares of Commvault Systems in the fourth quarter valued at approximately $2,561,000. Finally, CWA Asset Management Group LLC boosted its stake in shares of Commvault Systems by 20.4% in the fourth quarter. CWA Asset Management Group LLC now owns 7,994 shares of the software maker’s stock valued at $1,206,000 after buying an additional 1,355 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.