CommVault Systems (NASDAQ:CVLT – Get Free Report) had its price objective raised by research analysts at Truist Financial from $155.00 to $182.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Truist Financial’s target price would suggest a potential upside of 25.55% from the stock’s current price.
Other research analysts have also issued research reports about the company. Mizuho lifted their target price on CommVault Systems from $140.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Royal Bank Of Canada raised their price objective on CommVault Systems from $100.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 29th. Wall Street Zen downgraded shares of CommVault Systems from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. KeyCorp boosted their target price on shares of CommVault Systems from $125.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Finally, Scotiabank increased their target price on shares of CommVault Systems from $105.00 to $110.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $145.47.
Check Out Our Latest Stock Report on CVLT
CommVault Systems Stock Down 1.2%
CommVault Systems (NASDAQ:CVLT – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The software maker reported $1.28 EPS for the quarter, topping analysts’ consensus estimates 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%.The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the firm earned $1.03 earnings per share. On average, analysts anticipate that CommVault Systems will post 2.88 EPS for the current year.
Insider Activity at CommVault Systems
In other CommVault Systems news, CAO Danielle Nicole Abrahamsen sold 254 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $150.00, for a total value of $38,100.00. Following the completion of the transaction, the chief accounting officer owned 13,156 shares in the company, valued at approximately $1,973,400. This represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mirchandani sold 8,450 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $99.13, for a total value of $837,648.50. Following the completion of the transaction, the chief executive officer directly owned 306,927 shares of the company’s stock, valued at $30,425,673.51. This trade represents a 2.68% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 55,279 shares of company stock worth $5,786,557 in the last ninety days. 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 business. Versant Capital Management Inc increased its stake in shares of CommVault Systems by 15.8% in the second quarter. Versant Capital Management Inc now owns 595 shares of the software maker’s stock valued at $84,000 after buying an additional 81 shares in the last quarter. Assetmark Inc. grew its holdings in CommVault Systems by 33.6% during the 4th quarter. Assetmark Inc. now owns 326 shares of the software maker’s stock worth $41,000 after acquiring an additional 82 shares during the last quarter. Captrust Financial Advisors increased its position in CommVault Systems by 7.2% in the 4th 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 in the last quarter. MML Investors Services LLC lifted its position in shares of CommVault Systems by 6.7% during the fourth quarter. MML Investors Services LLC now owns 2,361 shares of the software maker’s stock worth $296,000 after purchasing an additional 149 shares in the last quarter. Finally, Madison Asset Management LLC grew its stake in shares of CommVault Systems by 0.6% during the fourth quarter. Madison Asset Management LLC now owns 23,947 shares of the software maker’s stock valued at $3,002,000 after purchasing an additional 153 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.
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.
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