Brokerages Set CommVault Systems, Inc. (NASDAQ:CVLT) Price Target at $143.58

Shares of CommVault Systems, Inc. (NASDAQ:CVLT) have earned a consensus rating of “Moderate Buy” from the fourteen brokerages that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $143.5833.

A number of equities research analysts have issued reports on CVLT shares. Weiss Ratings restated a “hold (c)” rating on shares of CommVault Systems in a research note on Wednesday, January 21st. Robert W. Baird initiated coverage on shares of CommVault Systems in a report on Monday, October 27th. They issued an “outperform” rating and a $215.00 price objective on the stock. KeyCorp reduced their target price on shares of CommVault Systems from $152.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, January 28th. Zacks Research upgraded shares of CommVault Systems from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Finally, Royal Bank Of Canada reduced their price objective on CommVault Systems from $167.00 to $100.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 28th.

CommVault Systems Price Performance

Shares of CVLT opened at $86.07 on Friday. The firm has a market cap of $3.78 billion, a PE ratio of 44.37 and a beta of 0.59. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 4.06. The firm has a fifty day simple moving average of $117.27 and a two-hundred day simple moving average of $149.98. CommVault Systems has a 1-year low of $79.51 and a 1-year high of $200.68.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, January 27th. The software maker reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.19. The firm had revenue of $313.83 million for the quarter, compared to the consensus estimate of $299.07 million. CommVault Systems had a return on equity of 37.38% and a net margin of 7.58%.The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the business posted $0.94 EPS. On average, equities analysts anticipate that CommVault Systems will post 1.65 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Sanjay Mirchandani sold 13,109 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $121.15, for a total value of $1,588,155.35. Following the transaction, the chief executive officer owned 359,260 shares of the company’s stock, valued at $43,524,349. This trade represents a 3.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jennifer Leigh Dirico sold 830 shares of CommVault Systems stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $123.58, for a total value of $102,571.40. Following the transaction, the chief financial officer directly owned 44,313 shares in the company, valued at approximately $5,476,200.54. The trade was a 1.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 33,111 shares of company stock worth $4,058,851 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of CommVault Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Federated Hermes Inc. boosted its position in shares of CommVault Systems by 9.7% during the 3rd quarter. Federated Hermes Inc. now owns 322,053 shares of the software maker’s stock valued at $60,797,000 after acquiring an additional 28,596 shares during the last quarter. Emerald Advisers LLC raised its stake in CommVault Systems by 47.4% during the third quarter. Emerald Advisers LLC now owns 156,894 shares of the software maker’s stock valued at $29,618,000 after purchasing an additional 50,470 shares in the last quarter. Strengthening Families & Communities LLC lifted its position in CommVault Systems by 2,215.4% during the third quarter. Strengthening Families & Communities LLC now owns 18,037 shares of the software maker’s stock valued at $3,350,000 after purchasing an additional 17,258 shares during the last quarter. Strs Ohio grew its stake in shares of CommVault Systems by 161.8% in the 3rd quarter. Strs Ohio now owns 28,800 shares of the software maker’s stock worth $5,437,000 after buying an additional 17,800 shares in the last quarter. Finally, Versor Investments LP increased its holdings in shares of CommVault Systems by 158.6% in the 2nd quarter. Versor Investments LP now owns 4,396 shares of the software maker’s stock worth $766,000 after buying an additional 2,696 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

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.