CommVault Systems (NASDAQ:CVLT) Given New $180.00 Price Target at Oppenheimer

CommVault Systems (NASDAQ:CVLT) had its target price decreased by Oppenheimer from $200.00 to $180.00 in a research report sent to investors on Wednesday,Benzinga reports. Oppenheimer currently has an outperform rating on the software maker’s stock.

A number of other brokerages have also recently weighed in on CVLT. Mizuho lowered their price target on CommVault Systems from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday. Wall Street Zen lowered shares of CommVault Systems from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Royal Bank Of Canada cut their price target on shares of CommVault Systems from $217.00 to $167.00 and set a “sector perform” rating for the company in a report on Wednesday, October 29th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of CommVault Systems in a research note on Tuesday. Finally, Guggenheim reduced their target price on CommVault Systems from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, January 16th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.25.

CommVault Systems Price Performance

NASDAQ:CVLT opened at $119.54 on Wednesday. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 67.16 and a beta of 0.57. The company has a 50-day moving average of $123.79 and a 200-day moving average of $156.11. CommVault Systems has a 52 week low of $114.46 and a 52 week high of $200.68. The company has a debt-to-equity ratio of 4.18, a quick ratio of 2.53 and a current ratio of 2.53.

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

Insider Buying and Selling at CommVault Systems

In other news, insider Gary Merrill sold 2,674 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $123.58, for a total value of $330,452.92. Following the transaction, the insider directly owned 69,163 shares in the company, valued at $8,547,163.54. This trade represents a 3.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjay Mirchandani sold 14,653 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $123.65, for a total value of $1,811,843.45. Following the sale, the chief executive officer directly owned 372,369 shares in the company, valued at approximately $46,043,426.85. This represents a 3.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 33,111 shares of company stock worth $4,058,851. Company insiders own 1.00% of the company’s stock.

Institutional Trading of CommVault Systems

A number of hedge funds have recently made changes to their positions in CVLT. State of Wyoming acquired a new position in shares of CommVault Systems in the second quarter valued at $35,000. FNY Investment Advisers LLC bought a new position in CommVault Systems in the 4th quarter valued at about $36,000. Banque Cantonale Vaudoise acquired a new stake in CommVault Systems during the third quarter worth approximately $39,000. Cullen Frost Bankers Inc. boosted its holdings in shares of CommVault Systems by 43.8% during the third quarter. Cullen Frost Bankers Inc. now owns 243 shares of the software maker’s stock worth $46,000 after acquiring an additional 74 shares during the period. Finally, Assetmark Inc. grew its position in shares of CommVault Systems by 2,950.0% in the third quarter. Assetmark Inc. now owns 244 shares of the software maker’s stock valued at $46,000 after purchasing an additional 236 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

CommVault Systems Company Profile

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.