CommVault Systems (NASDAQ:CVLT) Stock Gets Price Target Bump from Royal Bank Of Canada

CommVault Systems (NASDAQ:CVLT) had its price objective increased by research analysts at Royal Bank Of Canada from $150.00 to $160.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “sector perform” rating on the software maker’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 0.72% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. FBN Securities started coverage on CommVault Systems in a report on Thursday, September 10th. They set an “outperform” rating and a $155.00 price target on the stock. Truist Financial lifted their price target 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. Guggenheim restated a “buy” rating on shares of CommVault Systems in a research note on Tuesday, July 28th. Scotiabank upped their price objective on shares of CommVault Systems from $130.00 to $160.00 and gave the stock a “sector perform” rating in a report on Monday, October 5th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $132.00 price objective on shares of CommVault Systems in a report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $157.62.

CommVault Systems Stock Performance

CVLT opened at $158.85 on Monday. The company has a market cap of $6.58 billion, a PE ratio of 62.15 and a beta of 0.79. The stock has a 50-day moving average of $142.03 and a 200-day moving average of $124.83. CommVault Systems has a 52-week low of $71.75 and a 52-week high of $177.81. The company has a debt-to-equity ratio of 16.94, a quick ratio of 2.04 and a current ratio of 2.04.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.42 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 for the quarter, compared to analyst estimates of $310.43 million. During the same quarter in the prior year, the firm posted $1.01 EPS. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, equities research analysts forecast that CommVault Systems will post 2.84 earnings per share for the current fiscal year.

Insider Buying and Selling at CommVault Systems

In other CommVault Systems news, CFO Gary Merrill sold 1,854 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $143.64, for a total value of $266,308.56. Following the sale, the chief financial officer owned 70,921 shares of the company’s stock, valued at $10,187,092.44. This trade represents a 2.55% decrease in their position. The transaction was disclosed in a 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, CEO Sanjay Mirchandani sold 12,437 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $143.98, for a total value of $1,790,679.26. Following the completion of the sale, the chief executive officer directly owned 269,373 shares in the company, valued at $38,784,324.54. This trade represents a 4.41% 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. Insiders have sold 29,348 shares of company stock worth $4,202,441 in the last ninety days. 0.86% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

About CommVault Systems

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.