CommVault Systems (NASDAQ:CVLT – Free Report) had its price target increased by Royal Bank Of Canada from $160.00 to $180.00 in a report released on Wednesday,Benzinga reports. They currently have a sector perform rating on the software maker’s stock.
CVLT has been the subject of a number of other reports. Jefferies Financial Group boosted their price target on shares of CommVault Systems from $130.00 to $170.00 and gave the company a “hold” rating in a research report on Monday, October 26th. DA Davidson set a $175.00 price objective on CommVault Systems in a research report on Wednesday, July 29th. Truist Financial increased their price objective on CommVault Systems from $155.00 to $182.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. KeyCorp lifted their price objective on CommVault Systems from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Oppenheimer boosted their target price 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 issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.00.
Get Our Latest Stock Report on CVLT
CommVault Systems Stock Performance
CommVault Systems stock opened at $165.13 on Wednesday. The firm’s 50 day simple moving average is $148.08 and its 200 day simple moving average is $119.17. The company has a current ratio of 1.94, a quick ratio of 2.04 and a debt-to-equity ratio of 70.45. The firm has a market capitalization of $6.76 billion, a PE ratio of 60.00 and a beta of 0.79. CommVault Systems has a 1-year low of $71.75 and a 1-year high of $174.25.
CommVault Systems (NASDAQ:CVLT – Get Free Report) last posted its earnings results on Tuesday, October 27th. The software maker reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.13. CommVault Systems had a net margin of 6.60% and a return on equity of 169.40%. The business had revenue of $312.39 million for the quarter, compared to analysts’ expectations of $310.41 million. During the same period in the prior year, the company posted $0.91 EPS. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, analysts expect that CommVault Systems will post 2.92 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CFO Gary Merrill sold 1,854 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $143.64, for a total value of $266,308.56. Following the sale, the chief financial officer directly owned 70,921 shares of the company’s stock, valued at $10,187,092.44. This trade represents a 2.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 CommVault Systems 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 sale, the director owned 15,140 shares of the company’s stock, valued at approximately $2,031,636.60. The trade was 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. Insiders sold 29,348 shares of company stock valued at $4,202,441 in the last 90 days. 0.86% of the stock is owned by company insiders.
Institutional Trading of CommVault Systems
Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of CommVault Systems during the 2nd quarter worth $855,420,000. American Capital Management Inc. grew its position in CommVault Systems by 1.3% in the first quarter. American Capital Management Inc. now owns 540,845 shares of the software maker’s stock worth $42,126,000 after acquiring an additional 7,039 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in CommVault Systems in the second quarter valued at $65,765,000. Wellington Management Group LLP increased its stake in CommVault Systems by 57.1% in the second quarter. Wellington Management Group LLP now owns 402,054 shares of the software maker’s stock valued at $56,983,000 after acquiring an additional 146,055 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in CommVault Systems in the second quarter valued at $51,709,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.
About CommVault Systems
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.
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