CommVault Systems (NASDAQ:CVLT) Stock Gets Price Target Bump from Mizuho

CommVault Systems (NASDAQ:CVLT) had its price target lifted by investment analysts at Mizuho from $175.00 to $185.00 in a report released on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the software maker’s stock. Mizuho’s price target indicates a potential upside of 17.99% from the stock’s previous close.

Several other analysts also recently commented on CVLT. Jefferies Financial Group reissued a “hold” rating and set a $130.00 price objective on shares of CommVault Systems in a research report on Wednesday, July 29th. Wall Street Zen cut shares of CommVault Systems from a “buy” rating to a “hold” rating in a report on Saturday, October 10th. DA Davidson set a $175.00 target price on shares of CommVault Systems in a research note on Wednesday, July 29th. UBS Group reiterated a “neutral” rating on shares of CommVault Systems in a report on Monday, July 27th. Finally, Oppenheimer raised their price target on shares of CommVault Systems from $150.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $158.25.

CommVault Systems Stock Up 1.6%

Shares of CommVault Systems stock traded up $2.46 during midday trading on Thursday, hitting $156.79. The company had a trading volume of 230,217 shares, compared to its average volume of 857,826. 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 stock has a market capitalization of $6.50 billion, a P/E ratio of 99.88 and a beta of 0.79. The company has a 50 day moving average of $142.46 and a 200 day moving average of $125.35. CommVault Systems has a 52-week low of $71.75 and a 52-week high of $177.81.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.26. CommVault Systems had a return on equity of 88.75% and a net margin of 5.62%. The business had revenue of $314.13 million during the quarter, compared to analysts’ expectations of $310.43 million. During the same quarter in the previous year, the business earned $1.01 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities analysts predict that CommVault Systems will post 2.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Danielle Abrahamsen sold 486 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer owned 12,160 shares in the company, valued at approximately $1,736,448. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $134.19, for a total transaction of $63,874.44. Following the completion of the sale, the director owned 8,696 shares in the company, valued at $1,166,916.24. This represents a 5.19% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 29,348 shares of company stock worth $4,202,441 in the last quarter. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On CommVault Systems

A number of institutional investors and hedge funds have recently modified their holdings of CVLT. Transamerica Financial Advisors LLC bought a new stake in CommVault Systems during the 2nd quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in CommVault Systems in the 2nd quarter worth approximately $27,000. Silvant Capital Management LLC bought a new position in CommVault Systems in the 2nd quarter worth approximately $30,000. Essential Partners LLC boosted its stake in CommVault Systems by 9,920.0% in the 1st quarter. Essential Partners LLC now owns 501 shares of the software maker’s stock worth $39,000 after purchasing an additional 496 shares during the period. Finally, Northwestern Mutual Wealth Management Co. bought a new position in CommVault Systems in the 2nd quarter worth approximately $53,000. 93.50% of the stock is currently owned by hedge funds and other 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.