Commvault (CVLT) Receives $73.57 Consensus Target Price from Analysts

Commvault (NASDAQ:CVLT) has received an average rating of “Buy” from the fourteen brokerages that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $74.29.

Several equities research analysts recently issued reports on CVLT shares. Zacks Investment Research raised shares of Commvault from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Mizuho reiterated a “buy” rating and issued a $75.00 target price on shares of Commvault in a report on Tuesday, January 23rd. BidaskClub downgraded shares of Commvault from a “sell” rating to a “strong sell” rating in a report on Thursday, January 18th. Wells Fargo lifted their target price on shares of Commvault from $64.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, April 3rd. Finally, ValuEngine upgraded shares of Commvault from a “hold” rating to a “buy” rating in a report on Monday, April 2nd.

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In other news, Director Robert F. Kurimsky sold 7,500 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $50.32, for a total transaction of $377,400.00. Following the transaction, the director now owns 62,339 shares in the company, valued at approximately $3,136,898.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman N Robert Hammer sold 187,502 shares of the business’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $50.73, for a total transaction of $9,511,976.46. The disclosure for this sale can be found here. Insiders sold a total of 439,313 shares of company stock worth $24,578,504 in the last quarter. Insiders own 13.40% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Sterling Capital Management LLC boosted its position in shares of Commvault by 17.8% during the 4th quarter. Sterling Capital Management LLC now owns 41,405 shares of the software maker’s stock valued at $2,174,000 after acquiring an additional 6,258 shares in the last quarter. Cornerstone Capital Management Holdings LLC. boosted its position in shares of Commvault by 72.3% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 74,100 shares of the software maker’s stock valued at $4,505,000 after acquiring an additional 31,100 shares in the last quarter. BlackRock Inc. boosted its position in shares of Commvault by 2.2% during the 4th quarter. BlackRock Inc. now owns 4,424,276 shares of the software maker’s stock valued at $232,274,000 after acquiring an additional 96,629 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Commvault during the 4th quarter valued at about $260,000. Finally, New Mexico Educational Retirement Board acquired a new stake in shares of Commvault during the 4th quarter valued at about $551,000. Institutional investors own 90.07% of the company’s stock.

Shares of CVLT stock traded up $0.10 on Friday, hitting $70.65. The company’s stock had a trading volume of 300,901 shares, compared to its average volume of 645,955. Commvault has a fifty-two week low of $48.35 and a fifty-two week high of $71.30.

Commvault (NASDAQ:CVLT) last released its quarterly earnings data on Wednesday, January 24th. The software maker reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). Commvault had a negative net margin of 8.30% and a positive return on equity of 0.32%. The business had revenue of $180.37 million during the quarter, compared to analyst estimates of $182.01 million. During the same period in the previous year, the firm posted $0.28 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. equities analysts forecast that Commvault will post 0.03 earnings per share for the current year.

Commvault declared that its Board of Directors has approved a stock repurchase program on Wednesday, January 24th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the software maker to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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About Commvault

Commvault Systems, Inc provides data and information management software applications and related services in the United States and internationally. The company's software suite contains solutions that are built on a single unified code base and platform to protect, manage, and access data and information.

Analyst Recommendations for Commvault (NASDAQ:CVLT)

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