FBN Securities began coverage on shares of CommVault Systems (NASDAQ:CVLT – Free Report) in a research report sent to investors on Thursday morning, Marketbeat.com reports. The firm issued an outperform rating and a $155.00 target price on the software maker’s stock.
CVLT has been the topic of a number of other reports. KeyCorp raised their price target 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. Oppenheimer upped their price objective on shares of CommVault Systems from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Wall Street Zen downgraded shares of CommVault Systems from a “buy” rating to a “hold” rating in a research note on Saturday, September 5th. Piper Sandler lowered shares of CommVault Systems from an “overweight” rating to a “neutral” rating and set a $133.00 target price on the stock. in a research report on Tuesday, July 28th. Finally, Mizuho boosted their target price on shares of CommVault Systems from $140.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $152.62.
Read Our Latest Stock Analysis on CVLT
CommVault Systems Price Performance
CommVault Systems (NASDAQ:CVLT – Get Free Report) last released its earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.26. The firm had revenue of $314.13 million for the quarter, compared to analysts’ expectations of $310.43 million. CommVault Systems had a return on equity of 88.75% and a net margin of 5.62%.The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.01 earnings per share. On average, sell-side analysts forecast that CommVault Systems will post 2.84 EPS for the current fiscal year.
Insider Activity at CommVault Systems
In other news, Director A. Shane Sanders sold 476 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $134.19, for a total value of $63,874.44. Following the completion of the transaction, the director owned 8,696 shares of the company’s stock, valued at $1,166,916.24. This represents a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vivie Lee sold 595 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $134.19, for a total transaction of $79,843.05. Following the completion of the transaction, the director owned 15,140 shares of the company’s stock, valued at approximately $2,031,636.60. This trade represents a 3.78% decrease in their position. 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 90 days, insiders sold 29,602 shares of company stock valued at $4,240,541. Corporate insiders own 0.86% of the company’s stock.
Hedge Funds Weigh In On CommVault Systems
Several large investors have recently modified their holdings of the business. Transamerica Financial Advisors LLC bought a new stake in shares of CommVault Systems in the second quarter worth $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in CommVault Systems during the 2nd quarter worth $27,000. Silvant Capital Management LLC bought a new position in CommVault Systems during the 2nd quarter worth $30,000. State of Wyoming acquired a new position in CommVault Systems during the 2nd quarter worth about $35,000. Finally, Essential Partners LLC lifted its holdings in CommVault Systems by 9,920.0% during the 1st quarter. Essential Partners LLC now owns 501 shares of the software maker’s stock worth $39,000 after buying an additional 496 shares during the period. Institutional investors own 93.50% of the company’s stock.
CommVault Systems Company Profile
Commvault Systems, Inc develops data protection and cyber resilience software for organizations seeking to secure, manage and recover data across on-premises, cloud and hybrid environments. Its technology is designed to help businesses protect workloads, reduce the risk of data loss and maintain operations following system failures, cyberattacks or other disruptions.
The company’s offerings include backup and recovery, disaster recovery, data security, cyber recovery and cloud data management solutions.
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