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

by · The Cerbat Gem

CommVault Systems (NASDAQ:CVLT – Free Report) had its price objective raised by Mizuho from $175.00 to $185.00 in a research report released on Thursday,Benzinga reports. The firm currently has an outperform rating on the software maker’s stock.

Other equities analysts have also recently issued research reports about the company. UBS Group restated a “neutral” rating on shares of CommVault Systems in a report on Monday, July 27th. Royal Bank Of Canada upped their price target on 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 research report on Friday, September 11th. KeyCorp increased their price target on shares of CommVault Systems from $125.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Finally, FBN Securities began coverage on shares of CommVault Systems in a research note on Thursday, September 10th. They set an “outperform” rating and a $155.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, CommVault Systems has an average rating of “Moderate Buy” and an average target price of $158.25.

Read Our Latest Stock Analysis on CommVault Systems

CommVault Systems Price Performance

CVLT opened at $149.11 on Thursday. The company has a fifty day moving average price of $143.24 and a two-hundred day moving average price of $126.09. The company has a debt-to-equity ratio of 16.94, a quick ratio of 2.04 and a current ratio of 2.04. CommVault Systems has a 52 week low of $71.75 and a 52 week high of $177.81. The firm has a market capitalization of $6.18 billion, a PE ratio of 94.97 and a beta of 0.79.

CommVault Systems (NASDAQ:CVLT – Get Free Report) last issued its earnings results on Tuesday, July 28th. The software maker reported $1.42 EPS for the quarter, beating the consensus estimate of $1.16 by $0.26. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The company had revenue of $314.13 million during the quarter, compared to analysts’ expectations of $310.43 million. During the same quarter in the previous year, the company posted $1.01 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, analysts anticipate that CommVault Systems will post 2.84 earnings per share for the current year.

Insider Activity

In other CommVault Systems news, CAO Danielle Abrahamsen sold 486 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total value of $69,400.80. Following the completion of the sale, the chief accounting officer directly owned 12,160 shares in the company, valued at $1,736,448. This represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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, Director Vivie Lee sold 595 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $134.19, for a total value of $79,843.05. Following the completion of the sale, the director owned 15,140 shares of the company’s stock, valued at $2,031,636.60. This trade represents a 3.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 29,348 shares of company stock valued at $4,202,441. Company insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On CommVault Systems

Several institutional investors and hedge funds have recently modified their holdings of the business. Transamerica Financial Advisors LLC acquired a new position in shares of CommVault Systems in the second quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of CommVault Systems during the second quarter worth $27,000. Silvant Capital Management LLC acquired a new stake in shares of CommVault Systems during the second quarter worth $30,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of CommVault Systems during the second quarter worth $53,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of CommVault Systems during the second quarter worth $55,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

About CommVault Systems

(Get Free Report)

Commvault Systems, Inc develops data protection, cyber resilience and information management software and services. Its platform helps organizations back up, recover, manage and secure data across on-premises data centers, public and private clouds, software-as-a-service applications and endpoint environments.

The company’s offerings include backup and recovery, disaster recovery, cyber-recovery capabilities, ransomware protection, data governance and workload management. Commvault also provides cloud-based services through its Commvault Cloud platform, designed to help customers detect threats, protect critical workloads and restore operations following data loss or cyberattacks.

Commvault serves businesses, government organizations and other institutions worldwide through direct sales, partners and service providers.

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