CommVault Systems, Inc. (NASDAQ:CVLT) Receives $152.62 Average Price Target from Brokerages

CommVault Systems, Inc. (NASDAQ:CVLT) has earned a consensus recommendation of “Moderate Buy” from the twenty-one analysts that are covering the company, Marketbeat reports. Ten research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $152.6250.

CVLT has been the subject of a number of research reports. UBS Group reaffirmed a “neutral” rating on shares of CommVault Systems in a report on Monday, July 27th. Truist Financial boosted their price objective on shares of CommVault Systems from $155.00 to $182.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. FBN Securities assumed coverage on shares of CommVault Systems in a research note on Thursday, September 10th. They set an “outperform” rating and a $155.00 price objective on the stock. Stephens raised their target price on shares of CommVault Systems from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, June 16th. Finally, Wall Street Zen upgraded CommVault Systems from a “hold” rating to a “buy” rating in a research note on Sunday, September 13th.

CommVault Systems Price Performance

CVLT opened at $148.79 on Friday. 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 market capitalization of $6.17 billion, a P/E ratio of 94.77 and a beta of 0.82. CommVault Systems has a 1-year low of $71.75 and a 1-year high of $198.18. The company has a 50-day moving average of $137.71 and a 200-day moving average of $116.21.

CommVault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, July 28th. The software maker reported $1.42 EPS for the quarter, topping the consensus estimate of $1.16 by $0.26. The company had revenue of $314.13 million during the quarter, compared to analyst estimates of $310.43 million. CommVault Systems had a return on equity of 88.75% and a net margin of 5.62%.The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.01 EPS. Equities analysts expect that CommVault Systems will post 2.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other CommVault Systems news, Director Vivie Lee sold 595 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $134.19, for a total value of $79,843.05. Following the completion of the transaction, the director owned 15,140 shares in the company, valued at approximately $2,031,636.60. This represents a 3.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $69,400.80. Following the completion of the sale, the chief accounting officer owned 12,160 shares in the company, valued at $1,736,448. The trade was a 3.84% decrease in their position. 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 29,602 shares of company stock worth $4,240,541. 0.86% of the stock is owned by company insiders.

Hedge Funds Weigh In On CommVault Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Transamerica Financial Advisors LLC acquired a new stake in CommVault Systems in the 2nd quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in CommVault Systems during the 2nd quarter valued at $27,000. Silvant Capital Management LLC acquired a new position in CommVault Systems during the 2nd quarter worth $30,000. Northwestern Mutual Wealth Management Co. acquired a new position in CommVault Systems during the 2nd quarter worth $53,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of CommVault Systems in the second quarter worth $55,000. 93.50% of the stock is owned by institutional investors.

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.