Truist Financial Issues Positive Forecast for CommVault Systems (NASDAQ:CVLT) Stock Price

CommVault Systems (NASDAQ:CVLT) had its target price upped by analysts at Truist Financial from $155.00 to $182.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Truist Financial’s target price indicates a potential upside of 25.55% from the stock’s previous close.

Several other research analysts have also commented on CVLT. William Blair restated a “market perform” rating on shares of CommVault Systems in a report on Monday, March 23rd. Loop Capital started coverage on shares of CommVault Systems in a research report on Tuesday, March 24th. They issued a “buy” rating and a $125.00 price objective for the company. Wolfe Research assumed coverage on shares of CommVault Systems in a research note on Friday, May 1st. They issued a “peer perform” rating on the stock. Weiss Ratings upgraded shares of CommVault Systems from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 16th. Finally, Stephens upped their price target on shares of CommVault Systems from $135.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $145.47.

CommVault Systems Trading Down 1.2%

CVLT traded down $1.76 during midday trading on Tuesday, hitting $144.96. The company’s stock had a trading volume of 98,200 shares, compared to its average volume of 970,773. CommVault Systems has a 52-week low of $71.75 and a 52-week high of $200.68. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 117.54. The firm has a 50-day moving average price of $127.68 and a two-hundred day moving average price of $106.41. The firm has a market cap of $6.00 billion, a P/E ratio of 91.12 and a beta of 0.79.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, April 28th. The software maker reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.19. CommVault Systems had a net margin of 5.97% and a return on equity of 51.64%. The company had revenue of $311.69 million for the quarter, compared to analyst estimates of $306.71 million. During the same quarter last year, the business earned $1.03 EPS. CommVault Systems’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, research analysts anticipate that CommVault Systems will post 2.88 earnings per share for the current year.

Insider Buying and Selling at CommVault Systems

In other news, CFO Gary Merrill sold 4,554 shares of CommVault Systems stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $106.70, for a total transaction of $485,911.80. Following the sale, the chief financial officer owned 72,775 shares in the company, valued at $7,765,092.50. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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, CAO Danielle Nicole Abrahamsen sold 254 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was 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 in the company, valued at approximately $1,973,400. The trade was a 1.89% 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 55,279 shares of company stock valued at $5,786,557 over the last 90 days. 0.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CommVault Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVLT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of CommVault Systems by 8.6% in 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 worth $23,255,000 after acquiring an additional 11,700 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in CommVault Systems during the 2nd quarter worth approximately $327,000. Cetera Investment Advisers raised its position in shares of CommVault Systems by 13.4% in the 2nd quarter. Cetera Investment Advisers now owns 2,486 shares of the software maker’s stock valued at $433,000 after purchasing an additional 294 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of CommVault Systems by 188.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $47,000 after buying an additional 177 shares during the last quarter. Finally, Guggenheim Capital LLC grew its position in shares of CommVault Systems by 43.8% during the second 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 in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

CommVault Systems Company Profile

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.