CommVault Systems (NASDAQ:CVLT) Price Target Raised to $155.00 at Stephens

CommVault Systems (NASDAQ:CVLT) had its price target increased by stock analysts at Stephens from $135.00 to $155.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the software maker’s stock. Stephens’ target price would suggest a potential upside of 21.50% from the company’s previous close.

A number of other research firms have also recently weighed in on CVLT. Zacks Research cut CommVault Systems from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Mizuho upped their target price on shares of CommVault Systems from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, June 10th. Wolfe Research began coverage on shares of CommVault Systems in a research note on Friday, May 1st. They set a “peer perform” rating for the company. Wall Street Zen cut shares of CommVault Systems from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Robert W. Baird decreased their price objective on shares of CommVault Systems from $185.00 to $160.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, CommVault Systems currently has a consensus rating of “Moderate Buy” and an average price target of $136.33.

CommVault Systems Stock Up 0.2%

Shares of NASDAQ CVLT opened at $127.57 on Tuesday. The company has a market capitalization of $5.26 billion, a P/E ratio of 80.06 and a beta of 0.82. The company has a debt-to-equity ratio of 117.54, a current ratio of 1.95 and a quick ratio of 1.95. The company has a 50 day simple moving average of $103.26 and a 200-day simple moving average of $103.30. 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 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.19. The firm had revenue of $311.69 million for 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 firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 earnings per share. On average, equities research analysts predict that CommVault Systems will post 2.86 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Sanjay Mirchandani sold 19,396 shares of CommVault Systems stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $105.49, for a total value of $2,046,084.04. Following the transaction, the chief executive officer directly owned 315,377 shares of the company’s stock, valued at $33,269,119.73. The trade was a 5.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 1,065 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $105.84, for a total transaction of $112,719.60. Following the completion of the sale, the chief accounting officer directly owned 13,581 shares of the company’s stock, valued at $1,437,413.04. The trade was a 7.27% 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 90 days, insiders have sold 55,025 shares of company stock valued at $5,748,457. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CommVault Systems

Several hedge funds have recently modified their holdings of CVLT. Assetmark Inc. increased its stake in CommVault Systems by 33.6% in the 4th quarter. Assetmark Inc. now owns 326 shares of the software maker’s stock valued at $41,000 after buying an additional 82 shares during the period. Diversify Wealth Management LLC lifted its stake in shares of CommVault Systems by 1.6% in the 3rd quarter. Diversify Wealth Management LLC now owns 7,060 shares of the software maker’s stock worth $1,333,000 after acquiring an additional 110 shares during the period. Optiver Holding B.V. boosted its holdings in shares of CommVault Systems by 62.6% in the third quarter. Optiver Holding B.V. now owns 291 shares of the software maker’s stock valued at $55,000 after acquiring an additional 112 shares in the last quarter. Huntington National Bank increased its stake in shares of CommVault Systems by 25.5% during the third quarter. Huntington National Bank now owns 699 shares of the software maker’s stock worth $132,000 after acquiring an additional 142 shares during the period. Finally, Captrust Financial Advisors increased its stake in shares of CommVault Systems by 7.2% during the fourth quarter. Captrust Financial Advisors now owns 2,153 shares of the software maker’s stock worth $270,000 after acquiring an additional 145 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

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.