CommVault Systems’ (CVLT) Buy Rating Reiterated at Truist Financial

Truist Financial restated their buy rating on shares of CommVault Systems (NASDAQ:CVLT) in a research note published on Wednesday,Benzinga reports. They currently have a $200.00 price objective on the software maker’s stock, up from their previous price objective of $182.00.

A number of other research analysts have also weighed in on CVLT. Cantor Fitzgerald raised their price objective on CommVault Systems from $132.00 to $171.00 and gave the company a “neutral” rating in a research report on Monday, October 26th. Royal Bank Of Canada lifted their price objective on CommVault Systems from $160.00 to $180.00 and gave the company a “sector perform” rating in a research note on Wednesday. Wells Fargo & Company boosted their target price on CommVault Systems from $155.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday. Scotiabank increased their target price on CommVault Systems from $160.00 to $180.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Finally, 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 for the company. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, CommVault Systems presently has a consensus rating of “Moderate Buy” and an average price target of $174.00.

CommVault Systems Price Performance

Shares of CVLT opened at $165.13 on Wednesday. The stock has a market cap of $6.76 billion, a PE ratio of 60.00 and a beta of 0.79. The company has a debt-to-equity ratio of 70.45, a quick ratio of 2.04 and a current ratio of 1.94. CommVault Systems has a fifty-two week low of $71.75 and a fifty-two week high of $174.25. The firm’s 50-day simple moving average is $148.08 and its two-hundred day simple moving average is $119.17.

CommVault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, October 27th. The software maker reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.13. CommVault Systems had a net margin of 6.60% and a return on equity of 169.40%. The firm had revenue of $312.39 million during the quarter, compared to analyst estimates of $310.41 million. During the same period last year, the business earned $0.91 earnings per share. The business’s revenue was up 13.1% on a year-over-year basis. Analysts anticipate that CommVault Systems will post 2.92 earnings per share for the current fiscal year.

Insider Transactions at CommVault Systems

In related news, 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 transaction of $1,790,679.26. Following the completion of the sale, the chief executive officer owned 269,373 shares of the company’s stock, valued at $38,784,324.54. This trade represents a 4.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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, Director Vivie Lee sold 595 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $134.19, for a total transaction of $79,843.05. Following the completion of the transaction, the director owned 15,140 shares of the company’s stock, valued at approximately $2,031,636.60. The trade was 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 valued at $4,202,441. 0.86% of the stock is currently owned by insiders.

Institutional Trading of CommVault Systems

Several institutional investors have recently added to or reduced their stakes in CVLT. Greenleaf Trust purchased a new position in shares of CommVault Systems in the third quarter worth $204,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of CommVault Systems during the third quarter valued at $2,621,000. Vise Technologies Inc. boosted its position in shares of CommVault Systems by 1.8% during the third quarter. Vise Technologies Inc. now owns 3,562 shares of the software maker’s stock valued at $534,000 after buying an additional 64 shares during the last quarter. Summit Global Investments boosted its position in shares of CommVault Systems by 3.9% during the third quarter. Summit Global Investments now owns 3,522 shares of the software maker’s stock valued at $528,000 after buying an additional 131 shares during the last quarter. Finally, Choreo LLC purchased a new stake in shares of CommVault Systems during the third quarter valued at $229,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

CommVault Systems Company Profile

Commvault Systems, Inc develops data protection and cyber resilience software and services for businesses, government organizations and other institutions. Its platform is designed to help customers back up, recover, manage and secure data across on-premises infrastructure, private and public clouds, software-as-a-service applications and other distributed IT environments.

The company’s offerings include backup and recovery, disaster recovery, data security, ransomware protection, cyber-recovery capabilities and data management tools.