CommVault Systems (NASDAQ:CVLT) Price Target Raised to $182.00

CommVault Systems (NASDAQ:CVLT) had its target price upped by Truist Financial from $155.00 to $182.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

A number of other research analysts have also recently commented on the stock. Mizuho increased their target price on shares of CommVault Systems from $140.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Wolfe Research started coverage on shares of CommVault Systems in a research report on Friday, May 1st. They set a “peer perform” rating for the company. Loop Capital assumed coverage on shares of CommVault Systems in a research note on Tuesday, March 24th. They issued a “buy” rating and a $125.00 price objective for the company. Stephens raised their target price on shares of CommVault Systems from $135.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, June 16th. Finally, Royal Bank Of Canada raised their target price on shares of CommVault Systems from $100.00 to $110.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.47.

CommVault Systems Trading Up 0.6%

Shares of CVLT opened at $141.14 on Tuesday. CommVault Systems has a 52-week low of $71.75 and a 52-week high of $200.68. The business’s fifty day moving average is $130.16 and its 200-day moving average is $106.78. The company has a debt-to-equity ratio of 117.54, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of 88.77 and a beta of 0.79.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, April 28th. The software maker reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.19. The business had revenue of $311.69 million during the quarter, compared to the consensus estimate of $306.71 million. CommVault Systems had a return on equity of 51.64% and a net margin of 5.97%.CommVault Systems’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 EPS. Equities analysts anticipate that CommVault Systems will post 2.88 EPS for the current fiscal year.

Insider Buying and Selling at CommVault Systems

In other news, CAO Danielle Nicole Abrahamsen sold 254 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $150.00, for a total transaction of $38,100.00. Following the completion of the sale, the chief accounting officer directly owned 13,156 shares in the company, valued at $1,973,400. This represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mirchandani sold 8,450 shares of CommVault Systems stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $99.13, for a total transaction of $837,648.50. Following the transaction, the chief executive officer directly owned 306,927 shares of the company’s stock, valued at $30,425,673.51. This represents a 2.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 55,279 shares of company stock worth $5,786,557. Insiders own 0.86% of the company’s stock.

Institutional Trading of CommVault Systems

A number of large investors have recently bought and sold shares of the business. Versant Capital Management Inc increased its holdings in CommVault Systems by 15.8% during the second quarter. Versant Capital Management Inc now owns 595 shares of the software maker’s stock worth $84,000 after buying an additional 81 shares during the last quarter. Assetmark Inc. boosted its stake in CommVault Systems by 33.6% in the fourth quarter. Assetmark Inc. now owns 326 shares of the software maker’s stock valued at $41,000 after acquiring an additional 82 shares during the last quarter. Captrust Financial Advisors boosted its stake in CommVault Systems by 7.2% in the fourth quarter. Captrust Financial Advisors now owns 2,153 shares of the software maker’s stock valued at $270,000 after acquiring an additional 145 shares during the last quarter. MML Investors Services LLC grew its position in shares of CommVault Systems by 6.7% during the 4th quarter. MML Investors Services LLC now owns 2,361 shares of the software maker’s stock valued at $296,000 after acquiring an additional 149 shares during the period. Finally, Madison Asset Management LLC grew its position in shares of CommVault Systems by 0.6% during the 4th quarter. Madison Asset Management LLC now owns 23,947 shares of the software maker’s stock valued at $3,002,000 after acquiring an additional 153 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

About CommVault Systems

Commvault Systems, Inc is a global provider of data protection and information management software designed to help organizations manage, protect, and activate data across on-premises and cloud environments. Founded in 1996 and headquartered in Tinton Falls, New Jersey, Commvault offers a suite of integrated products and services that enable enterprises to back up, recover, archive, and analyze data. Its flagship solutions include Commvault Complete Data Protection, Commvault HyperScale, and the SaaS-based Metallic portfolio, which deliver scalable and automated data management capabilities across hybrid infrastructure environments.

Commvault’s platform is built on a unified architecture that allows customers to streamline operations, reduce complexity, and ensure data resiliency.