CommVault Systems (NASDAQ:CVLT) Price Target Raised to $185.00

CommVault Systems (NASDAQ:CVLT) had its price target boosted by Wells Fargo & Company from $155.00 to $185.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the software maker’s stock.

Several other research analysts have also weighed in on the stock. UBS Group restated a “neutral” rating on shares of CommVault Systems in a research note on Monday, July 27th. FBN Securities assumed coverage on shares of CommVault Systems in a report on Thursday, September 10th. They issued an “outperform” rating and a $155.00 target price on the stock. Royal Bank Of Canada raised their target price on shares of CommVault Systems from $150.00 to $160.00 and gave the company a “sector perform” rating in a research note on Monday, October 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of CommVault Systems in a report on Friday, September 11th. Finally, Oppenheimer boosted their price target on CommVault Systems from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.00.

CommVault Systems Price Performance

Shares of CVLT stock opened at $165.13 on Wednesday. CommVault Systems has a 52-week low of $71.75 and a 52-week high of $174.25. The stock has a market cap of $6.76 billion, a PE ratio of 60.00 and a beta of 0.79. The company has a debt-to-equity ratio of 70.45, a quick ratio of 2.04 and a current ratio of 1.94. The firm’s 50 day moving average price is $148.08 and its two-hundred day moving average price is $119.17.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, October 27th. The software maker reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.13. CommVault Systems had a net margin of 6.60% and a return on equity of 169.40%. The firm had revenue of $312.39 million during the quarter, compared to analysts’ expectations of $310.41 million. During the same quarter in the previous year, the company earned $0.91 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, analysts forecast that CommVault Systems will post 2.92 EPS for the current year.

Insider Buying and Selling at CommVault Systems

In other news, CFO Gary Merrill sold 1,293 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $142.80, for a total transaction of $184,640.40. Following the completion of the sale, the chief financial officer owned 69,628 shares of the company’s stock, valued at approximately $9,942,878.40. This represents a 1.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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. Also, CEO Sanjay Mirchandani sold 6,857 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total transaction of $979,179.60. Following the sale, the chief executive officer owned 257,676 shares in the company, valued at $36,796,132.80. This represents a 2.59% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold a total of 29,348 shares of company stock valued at $4,202,441 over the last three months. 0.86% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Greenleaf Trust acquired a new position in shares of CommVault Systems during the third quarter worth $204,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of CommVault Systems in the 3rd quarter valued at $2,621,000. Vise Technologies Inc. lifted its stake in shares of CommVault Systems by 1.8% in the 3rd quarter. Vise Technologies Inc. now owns 3,562 shares of the software maker’s stock valued at $534,000 after acquiring an additional 64 shares during the last quarter. Summit Global Investments boosted its holdings in shares of CommVault Systems by 3.9% during the 3rd quarter. Summit Global Investments now owns 3,522 shares of the software maker’s stock valued at $528,000 after acquiring an additional 131 shares in the last quarter. Finally, Choreo LLC acquired a new stake in shares of CommVault Systems during the 3rd quarter valued at $229,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

CommVault Systems Company Profile

Commvault Systems, Inc develops data protection and cyber resilience software and services for businesses, government organizations and other institutions. Its platform is designed to help customers back up, recover, manage and secure data across on-premises infrastructure, private and public clouds, software-as-a-service applications and other distributed IT environments.

The company’s offerings include backup and recovery, disaster recovery, data security, ransomware protection, cyber-recovery capabilities and data management tools.