CommVault Systems (NASDAQ:CVLT) Stock Price Up 6.2% – What’s Next?

Shares of CommVault Systems, Inc. (NASDAQ:CVLT) were up 6.2% during trading on Monday . The company traded as high as $136.67 and last traded at $138.1630. 101,608 shares changed hands during trading, a decline of 89% from the average daily volume of 889,434 shares. The stock had previously closed at $130.07.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Piper Sandler downgraded shares of CommVault Systems from an “overweight” rating to a “neutral” rating and set a $133.00 target price on the stock. in a research report on Tuesday, July 28th. Wall Street Zen upgraded shares of CommVault Systems from a “hold” rating to a “buy” rating in a research report on Sunday. Oppenheimer raised their price objective on shares of CommVault Systems from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Cantor Fitzgerald reiterated a “neutral” rating and set a $132.00 price objective on shares of CommVault Systems in a research report on Monday, July 27th. Finally, KeyCorp boosted their target price on shares of CommVault Systems from $125.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, CommVault Systems has a consensus rating of “Moderate Buy” and an average price target of $152.62.

CommVault Systems Trading Up 2.2%

The company has a market cap of $5.94 billion, a PE ratio of 91.27 and a beta of 0.82. The company has a debt-to-equity ratio of 16.94, a quick ratio of 2.04 and a current ratio of 2.04. The company has a 50 day simple moving average of $137.80 and a two-hundred day simple moving average of $115.36.

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

Insider Buying and Selling

In other news, CAO Danielle Abrahamsen sold 486 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $142.80, for a total value of $69,400.80. Following the transaction, the chief accounting officer directly owned 12,160 shares of the company’s stock, valued at approximately $1,736,448. This represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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, CEO Sanjay Mirchandani sold 6,857 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total value of $979,179.60. Following the sale, the chief executive officer owned 257,676 shares of the company’s stock, valued at approximately $36,796,132.80. This represents a 2.59% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 29,602 shares of company stock worth $4,240,541. Insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CVLT. BlackRock Inc. bought a new stake in shares of CommVault Systems in the 2nd quarter valued at approximately $855,420,000. Westfield Capital Management Co. LP increased its holdings in CommVault Systems by 34.5% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,057,077 shares of the software maker’s stock worth $132,515,000 after buying an additional 270,902 shares during the last quarter. Pictet Asset Management Holding SA raised its position in CommVault Systems by 36.2% during the first quarter. Pictet Asset Management Holding SA now owns 1,239,225 shares of the software maker’s stock valued at $96,447,000 after acquiring an additional 329,243 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in CommVault Systems during the second quarter valued at approximately $65,765,000. Finally, American Capital Management Inc. acquired a new stake in CommVault Systems in the second quarter valued at approximately $62,493,000. 93.50% of the stock is owned by institutional investors and hedge funds.

About CommVault Systems

Commvault Systems, Inc develops data protection and cyber resilience software for organizations seeking to secure, manage and recover data across on-premises, cloud and hybrid environments. Its technology is designed to help businesses protect workloads, reduce the risk of data loss and maintain operations following system failures, cyberattacks or other disruptions.

The company’s offerings include backup and recovery, disaster recovery, data security, cyber recovery and cloud data management solutions.