CommVault Systems, Inc. (NASDAQ:CVLT) Stock Has Consensus Target Price of $154.50

CommVault Systems, Inc. (NASDAQ:CVLT) has been assigned an average recommendation of “Moderate Buy” from the twenty-one research firms that are presently covering the stock, MarketBeat.com reports. Ten research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $157.62.

CVLT has been the topic of a number of research analyst reports. FBN Securities started coverage on shares of CommVault Systems in a report on Thursday, September 10th. They set an “outperform” rating and a $155.00 price objective on the stock. DA Davidson set a $175.00 target price on shares of CommVault Systems in a research note on Wednesday, July 29th. UBS Group reaffirmed a “neutral” rating on shares of CommVault Systems in a research note on Monday, July 27th. Piper Sandler cut CommVault Systems from an “overweight” rating to a “neutral” rating and set a $133.00 target price for the company. in a report on Tuesday, July 28th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $130.00 price target on shares of CommVault Systems in a research note on Wednesday, July 29th.

CommVault Systems Stock Performance

Shares of NASDAQ:CVLT opened at $155.37 on Thursday. CommVault Systems has a fifty-two week low of $71.75 and a fifty-two week high of $177.81. The company has a debt-to-equity ratio of 16.94, a current ratio of 2.04 and a quick ratio of 2.04. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 98.96 and a beta of 0.79. The firm’s 50 day simple moving average is $141.50 and its 200 day simple moving average is $124.28.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.26. The company had revenue of $314.13 million during the quarter, compared to analyst estimates of $310.43 million. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The firm’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 EPS. As a group, sell-side analysts forecast that CommVault Systems will post 2.84 earnings per share for the current year.

Insider Activity at CommVault Systems

In related news, CFO Gary Merrill sold 1,854 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $143.64, for a total transaction of $266,308.56. Following the completion of the transaction, the chief financial officer directly owned 70,921 shares in the company, valued at approximately $10,187,092.44. This trade represents a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 A. Shane Sanders sold 476 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 value of $63,874.44. Following the completion of the sale, the director directly owned 8,696 shares in the company, valued at approximately $1,166,916.24. This represents a 5.19% 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 sold 29,348 shares of company stock valued at $4,202,441 over the last ninety days. Company insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On CommVault Systems

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in CommVault Systems by 4.3% in the third quarter. GAMMA Investing LLC now owns 1,626 shares of the software maker’s stock valued at $244,000 after acquiring an additional 67 shares during the last quarter. Versant Capital Management Inc grew its position in shares of CommVault Systems by 15.8% in the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the software maker’s stock valued at $84,000 after acquiring an additional 81 shares during the period. Transamerica Financial Advisors LLC bought a new position in shares of CommVault Systems in the 2nd quarter valued at about $25,000. HighTower Advisors LLC increased its stake in shares of CommVault Systems by 6.8% during the 2nd quarter. HighTower Advisors LLC now owns 2,828 shares of the software maker’s stock worth $401,000 after purchasing an additional 181 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of CommVault Systems during the 2nd quarter worth about $27,000. 93.50% of the stock is owned by institutional investors.

CommVault Systems Company Profile

Commvault Systems, Inc develops data protection, cyber resilience and information management software and services. Its platform helps organizations back up, recover, manage and secure data across on-premises data centers, public and private clouds, software-as-a-service applications and endpoint environments.

The company’s offerings include backup and recovery, disaster recovery, cyber-recovery capabilities, ransomware protection, data governance and workload management. Commvault also provides cloud-based services through its Commvault Cloud platform, designed to help customers detect threats, protect critical workloads and restore operations following data loss or cyberattacks.

Commvault serves businesses, government organizations and other institutions worldwide through direct sales, partners and service providers.