CommVault Systems (NASDAQ:CVLT – Get Free Report) had its price objective lifted by analysts at Mizuho from $175.00 to $185.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Mizuho’s price target would indicate a potential upside of 17.99% from the stock’s current price.
Several other analysts have also recently issued reports on CVLT. Piper Sandler cut CommVault Systems from an “overweight” rating to a “neutral” rating and set a $133.00 price objective on the stock. in a report on Tuesday, July 28th. Scotiabank upped their price target on shares of CommVault Systems from $130.00 to $160.00 and gave the company a “sector perform” rating in a research note on Monday, October 5th. Guggenheim reiterated a “buy” rating on shares of CommVault Systems in a research report on Tuesday, July 28th. Wall Street Zen lowered shares of CommVault Systems from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Finally, Royal Bank Of Canada lifted their price objective on shares of CommVault Systems from $150.00 to $160.00 and gave the stock a “sector perform” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, CommVault Systems presently has a consensus rating of “Moderate Buy” and an average price target of $158.25.
View Our Latest Stock Report on CVLT
CommVault Systems Price Performance
CommVault Systems (NASDAQ:CVLT – Get Free Report) last released its quarterly earnings data 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 business had revenue of $314.13 million during the quarter, compared to the consensus estimate of $310.43 million. During the same quarter in the prior year, the firm earned $1.01 EPS. The business’s revenue was up 11.4% on a year-over-year basis. As a group, equities analysts predict that CommVault Systems will post 2.84 earnings per share for the current year.
Insider Activity at CommVault Systems
In other CommVault Systems news, CEO Sanjay Mirchandani sold 12,437 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $143.98, for a total value of $1,790,679.26. Following the completion of the sale, the chief executive officer owned 269,373 shares of the company’s stock, valued at $38,784,324.54. This trade represents a 4.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, Director A. Shane Sanders sold 476 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $134.19, for a total transaction of $63,874.44. Following the completion of the sale, the director directly owned 8,696 shares of the company’s stock, valued at approximately $1,166,916.24. The trade was a 5.19% 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. Insiders sold a total of 29,348 shares of company stock worth $4,202,441 in the last three months. 0.86% of the stock is owned by insiders.
Hedge Funds Weigh In On CommVault Systems
Large investors have recently bought and sold shares of the business. Madison Asset Management LLC increased its stake in CommVault Systems by 39.7% in the first quarter. Madison Asset Management LLC now owns 33,459 shares of the software maker’s stock worth $2,606,000 after purchasing an additional 9,512 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its position in shares of CommVault Systems by 64.3% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 273,206 shares of the software maker’s stock worth $21,280,000 after purchasing an additional 106,970 shares during the last quarter. Cinctive Capital Management LP purchased a new stake in shares of CommVault Systems during the fourth quarter valued at $19,784,000. Pictet Asset Management Holding SA boosted its stake in shares of CommVault Systems by 36.2% during the first quarter. Pictet Asset Management Holding SA now owns 1,239,225 shares of the software maker’s stock valued at $96,447,000 after purchasing an additional 329,243 shares during the period. Finally, Boston Trust Walden Corp grew its holdings in shares of CommVault Systems by 9.8% in the first quarter. Boston Trust Walden Corp now owns 270,027 shares of the software maker’s stock worth $21,032,000 after purchasing an additional 24,094 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.
CommVault Systems Company Profile
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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