Brokerages Set CommVault Systems, Inc. (NASDAQ:CVLT) PT at $152.62

Shares of CommVault Systems, Inc. (NASDAQ:CVLT) have been given a consensus rating of “Moderate Buy” by the twenty-one brokerages that are presently covering the firm, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $152.6250.

Several brokerages recently issued reports on CVLT. Oppenheimer increased their price target on shares of CommVault Systems from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Jefferies Financial Group restated a “hold” rating and issued a $130.00 price target on shares of CommVault Systems in a research note on Wednesday, July 29th. Scotiabank restated a “sector perform” rating and set a $130.00 target price on shares of CommVault Systems in a research report on Wednesday, July 29th. Truist Financial boosted their price target on CommVault Systems from $155.00 to $182.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Finally, Piper Sandler lowered shares of CommVault Systems from an “overweight” rating to a “neutral” rating and set a $133.00 price target for the company. in a research report on Tuesday, July 28th.

CommVault Systems Price Performance

CVLT stock opened at $143.30 on Friday. CommVault Systems has a 1 year low of $71.75 and a 1 year high of $198.18. The company has a market cap of $5.94 billion, a P/E ratio of 91.27 and a beta of 0.82. The firm has a 50-day moving average of $137.80 and a 200 day moving average of $115.36. The company has a debt-to-equity ratio of 16.94, a current ratio of 2.04 and a quick ratio of 2.04.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.42 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $310.43 million. During the same period in the previous year, the firm posted $1.01 EPS. The business’s revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts forecast that CommVault Systems will post 2.84 EPS for the current year.

Insider Buying and Selling at CommVault Systems

In other news, CEO Sanjay Mirchandani sold 6,857 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total transaction of $979,179.60. Following the completion of the transaction, the chief executive officer owned 257,676 shares in the company, valued at $36,796,132.80. This trade represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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, 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 value of $69,400.80. Following the transaction, the chief accounting officer owned 12,160 shares of the company’s stock, valued at $1,736,448. This represents a 3.84% decrease in their position. The SEC filing for this sale provides additional information. 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 sold 29,602 shares of company stock worth $4,240,541. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On CommVault Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in CommVault Systems in the second quarter worth about $855,420,000. Pictet Asset Management Holding SA increased its stake in shares of CommVault Systems by 36.2% during the first quarter. Pictet Asset Management Holding SA now owns 1,239,225 shares of the software maker’s stock valued at $96,447,000 after buying an additional 329,243 shares during the period. Westfield Capital Management Co. LP raised its holdings in shares of CommVault Systems by 34.5% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,057,077 shares of the software maker’s stock valued at $132,515,000 after purchasing an additional 270,902 shares in the last quarter. American Capital Management Inc. raised its stake in CommVault Systems by 1.3% in the first quarter. American Capital Management Inc. now owns 540,845 shares of the software maker’s stock worth $42,126,000 after buying an additional 7,039 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of CommVault Systems in the 2nd quarter worth $65,765,000. 93.50% of the stock is owned by hedge funds and other 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.