CommVault Systems, Inc. (NASDAQ:CVLT) Stock Has Consensus Target Price of $154.50

CommVault Systems, Inc. (NASDAQ:CVLT) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-one research firms that are covering the firm, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $154.50.

A number of equities analysts have commented on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $132.00 price target on shares of CommVault Systems in a research report on Monday, July 27th. DA Davidson set a $175.00 price objective on shares of CommVault Systems in a report on Wednesday, July 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of CommVault Systems in a research note on Friday, September 11th. Mizuho lifted their target price on shares of CommVault Systems from $140.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $130.00 target price on shares of CommVault Systems in a report on Wednesday, July 29th.

Insider Transactions at CommVault Systems

In other news, CAO Danielle Abrahamsen sold 486 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total transaction 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 represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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, Director Vivie Lee sold 595 shares of the firm’s stock in a transaction on 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 sale, the director owned 15,140 shares of the company’s stock, valued at approximately $2,031,636.60. This trade represents a 3.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 29,348 shares of company stock worth $4,202,441. 0.86% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Transamerica Financial Advisors LLC bought a new stake in CommVault Systems during the 2nd quarter worth about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of CommVault Systems in the second quarter worth about $27,000. Silvant Capital Management LLC bought a new position in shares of CommVault Systems in the second quarter worth about $30,000. Essential Partners LLC lifted its position in shares of CommVault Systems by 9,920.0% during the first quarter. Essential Partners LLC now owns 501 shares of the software maker’s stock worth $39,000 after purchasing an additional 496 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of CommVault Systems during the second quarter worth approximately $53,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

CommVault Systems Stock Up 4.1%

Shares of NASDAQ CVLT opened at $157.25 on Thursday. The stock has a market cap of $6.52 billion, a PE ratio of 100.16 and a beta of 0.79. The business has a fifty day moving average of $140.89 and a two-hundred day moving average of $123.43. CommVault Systems has a 52-week low of $71.75 and a 52-week high of $178.36. 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 earnings results on Tuesday, July 28th. The software maker reported $1.42 EPS for the quarter, beating the consensus estimate of $1.16 by $0.26. The company had revenue of $314.13 million for the quarter, compared to the consensus estimate of $310.43 million. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.01 EPS. As a group, equities research analysts expect that CommVault Systems will post 2.84 earnings per share for the current fiscal year.

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.