Piper Sandler Cuts CommVault Systems (NASDAQ:CVLT) Price Target to $155.00

CommVault Systems (NASDAQ:CVLT) had its price target trimmed by Piper Sandler from $186.00 to $155.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the software maker’s stock.

CVLT has been the topic of several other reports. Royal Bank Of Canada dropped their price objective on CommVault Systems from $217.00 to $167.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 29th. Oppenheimer started coverage on shares of CommVault Systems in a research report on Monday, November 10th. They set an “outperform” rating on the stock. DA Davidson reaffirmed a “buy” rating and issued a $220.00 price objective on shares of CommVault Systems in a research report on Thursday, November 13th. Truist Financial decreased their price objective on shares of CommVault Systems from $230.00 to $210.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Finally, Robert W. Baird started coverage on shares of CommVault Systems in a research report on Monday, October 27th. They set an “outperform” rating and a $215.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $188.17.

CommVault Systems Price Performance

CVLT stock opened at $128.47 on Monday. The company has a debt-to-equity ratio of 4.18, a quick ratio of 2.53 and a current ratio of 2.53. The business has a 50-day simple moving average of $125.58 and a two-hundred day simple moving average of $159.60. The company has a market capitalization of $5.66 billion, a P/E ratio of 72.17 and a beta of 0.57. CommVault Systems has a 52-week low of $114.46 and a 52-week high of $200.68.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, October 28th. The software maker reported $0.91 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.04). The company had revenue of $276.19 million during the quarter, compared to analysts’ expectations of $273.31 million. CommVault Systems had a return on equity of 31.53% and a net margin of 7.32%.The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period last year, the company earned $0.83 earnings per share. Research analysts expect that CommVault Systems will post 1.65 EPS for the current fiscal year.

Insider Buying and Selling at CommVault Systems

In other news, insider Gary Merrill sold 2,674 shares of the stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $123.58, for a total transaction of $330,452.92. Following the completion of the transaction, the insider directly owned 69,163 shares of the company’s stock, valued at $8,547,163.54. This represents a 3.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mirchandani sold 14,653 shares of CommVault Systems stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $123.65, for a total transaction of $1,811,843.45. Following the completion of the sale, the chief executive officer directly owned 372,369 shares in the company, valued at $46,043,426.85. This trade represents a 3.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 33,111 shares of company stock worth $4,058,851 over the last three months. 1.00% of the stock is currently owned by insiders.

Institutional Trading of CommVault Systems

Several hedge funds have recently made changes to their positions in the company. Central Pacific Bank Trust Division grew its stake in shares of CommVault Systems by 22.4% during the 4th quarter. Central Pacific Bank Trust Division now owns 1,146 shares of the software maker’s stock worth $144,000 after acquiring an additional 210 shares during the period. Avior Wealth Management LLC purchased a new stake in CommVault Systems during the fourth quarter valued at about $333,000. City Center Advisors LLC purchased a new stake in CommVault Systems during the fourth quarter valued at about $251,000. Tudor Investment Corp ET AL bought a new position in CommVault Systems during the third quarter worth about $1,887,800,000. Finally, Swiss Life Asset Management Ltd purchased a new position in shares of CommVault Systems in the third quarter worth about $389,000. 93.50% of the stock is currently owned by institutional investors.

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.