CommVault Systems, Inc. (NASDAQ:CVLT) Receives $145.47 Consensus Price Target from Brokerages

Shares of CommVault Systems, Inc. (NASDAQ:CVLT) have earned an average rating of “Moderate Buy” from the twenty brokerages that are presently covering the stock, Marketbeat reports. Nine investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $147.60.

A number of brokerages recently commented on CVLT. Cantor Fitzgerald restated a “neutral” rating and set a $132.00 target price on shares of CommVault Systems in a report on Monday. KeyCorp lifted their price target on shares of CommVault Systems from $125.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Jefferies Financial Group started coverage on shares of CommVault Systems in a research report on Monday, April 27th. They set a “hold” rating and a $105.00 price objective on the stock. Wolfe Research initiated coverage on shares of CommVault Systems in a research report on Friday, May 1st. They issued a “peer perform” rating for the company. Finally, Royal Bank Of Canada lifted their price objective on CommVault Systems from $100.00 to $110.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 29th.

CommVault Systems Stock Up 5.0%

Shares of NASDAQ:CVLT opened at $149.46 on Friday. The stock’s 50-day moving average is $131.80 and its 200 day moving average is $107.07. The company has a market cap of $6.19 billion, a PE ratio of 94.00 and a beta of 0.79. The company has a debt-to-equity ratio of 117.54, a current ratio of 1.95 and a quick ratio of 1.95. CommVault Systems has a 1 year low of $71.75 and a 1 year high of $200.68.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, April 28th. The software maker reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.19. The business had revenue of $311.69 million during the quarter, compared to analysts’ expectations of $306.71 million. CommVault Systems had a return on equity of 51.64% and a net margin of 5.97%.The business’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. Sell-side analysts anticipate that CommVault Systems will post 2.88 EPS for the current year.

Insider Buying and Selling

In other CommVault Systems news, CEO Sanjay Mirchandani sold 8,450 shares of the stock in a transaction 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 owned 306,927 shares in the company, valued at approximately $30,425,673.51. This represents a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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, CAO Danielle Nicole Abrahamsen sold 254 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $150.00, for a total transaction of $38,100.00. Following the transaction, the chief accounting officer directly owned 13,156 shares of the company’s stock, valued at $1,973,400. This represents a 1.89% 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 have sold a total of 55,279 shares of company stock valued at $5,786,557 over the last ninety days. Company insiders own 0.86% of the company’s stock.

Institutional Trading of CommVault Systems

A number of institutional investors and hedge funds have recently modified their holdings of CVLT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of CommVault Systems by 8.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,410 shares of the software maker’s stock valued at $23,255,000 after purchasing an additional 11,700 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in CommVault Systems in the 2nd quarter worth about $327,000. Cetera Investment Advisers increased its holdings in CommVault Systems by 13.4% in the 2nd quarter. Cetera Investment Advisers now owns 2,486 shares of the software maker’s stock worth $433,000 after buying an additional 294 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in CommVault Systems by 188.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock worth $47,000 after buying an additional 177 shares during the last quarter. Finally, Guggenheim Capital LLC raised its position in CommVault Systems by 43.8% in the 2nd quarter. Guggenheim Capital LLC now owns 4,245 shares of the software maker’s stock worth $740,000 after buying an additional 1,293 shares during the last quarter. Institutional investors 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.