Brokerages Set CommVault Systems, Inc. (NASDAQ:CVLT) Target Price at $188.17

CommVault Systems, Inc. (NASDAQ:CVLT) has been assigned a consensus rating of “Moderate Buy” from the sixteen research firms that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $188.1667.

Several brokerages have recently issued reports on CVLT. DA Davidson reissued a “buy” rating and set a $220.00 price target on shares of CommVault Systems in a report on Thursday, November 13th. Zacks Research raised shares of CommVault Systems from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Oppenheimer initiated coverage on shares of CommVault Systems in a research report on Monday, November 10th. They issued an “outperform” rating for the company. Robert W. Baird initiated coverage on CommVault Systems in a report on Monday, October 27th. They set an “outperform” rating and a $215.00 price target on the stock. Finally, Cantor Fitzgerald reduced their price objective on CommVault Systems from $189.00 to $144.00 and set a “neutral” rating for the company in a research report on Wednesday, October 29th.

CommVault Systems Stock Down 3.4%

NASDAQ:CVLT opened at $124.14 on Tuesday. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 4.18. The stock has a 50 day moving average of $125.31 and a 200-day moving average of $159.36. The firm has a market capitalization of $5.47 billion, a PE ratio of 69.74 and a beta of 0.57. CommVault Systems has a 52 week low of $114.46 and a 52 week high of $200.68.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, October 28th. The software maker reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.04). The company had revenue of $276.19 million during the quarter, compared to the consensus estimate of $273.31 million. CommVault Systems had a return on equity of 31.53% and a net margin of 7.32%.The company’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period last year, the business posted $0.83 EPS. Analysts predict that CommVault Systems will post 1.65 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Sanjay Mirchandani sold 14,653 shares of CommVault Systems stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $123.65, for a total transaction of $1,811,843.45. Following the sale, the chief executive officer directly owned 372,369 shares in the company, valued at $46,043,426.85. The trade was a 3.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary Merrill sold 2,674 shares of the stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $123.58, for a total transaction of $330,452.92. Following the completion of the transaction, the insider owned 69,163 shares of the company’s stock, valued at $8,547,163.54. This represents a 3.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 33,111 shares of company stock worth $4,058,851. 1.00% of the stock is owned by company insiders.

Institutional Trading of CommVault Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tudor Investment Corp ET AL bought a new position in shares of CommVault Systems in the third quarter valued at approximately $1,887,800,000. First Trust Advisors LP boosted its stake in CommVault Systems by 1,335.8% during the 3rd quarter. First Trust Advisors LP now owns 1,224,856 shares of the software maker’s stock valued at $231,228,000 after purchasing an additional 1,139,547 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in CommVault Systems by 135.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 786,175 shares of the software maker’s stock valued at $148,414,000 after purchasing an additional 452,422 shares in the last quarter. AQR Capital Management LLC increased its position in shares of CommVault Systems by 60.8% during the 2nd quarter. AQR Capital Management LLC now owns 893,385 shares of the software maker’s stock valued at $155,744,000 after purchasing an additional 337,830 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of CommVault Systems by 530.4% in the 2nd quarter. Federated Hermes Inc. now owns 293,457 shares of the software maker’s stock worth $51,158,000 after buying an additional 246,906 shares in the last quarter. 93.50% of the stock is currently owned by 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.