CommVault Systems (NASDAQ:CVLT) Given New $185.00 Price Target at DA Davidson

CommVault Systems (NASDAQ:CVLT) had its target price lowered by DA Davidson from $220.00 to $185.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

A number of other equities research analysts also recently issued reports on CVLT. Zacks Research upgraded CommVault Systems from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Wells Fargo & Company lowered their price target on CommVault Systems from $220.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Mizuho dropped their price target on CommVault Systems from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday. Royal Bank Of Canada decreased their price objective on shares of CommVault Systems from $217.00 to $167.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 29th. Finally, Oppenheimer lowered their target price on shares of CommVault Systems from $200.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $178.33.

CommVault Systems Price Performance

Shares of NASDAQ:CVLT opened at $123.53 on Thursday. The company has a 50 day moving average of $123.73 and a 200 day moving average of $155.88. The stock has a market cap of $5.45 billion, a P/E ratio of 69.40 and a beta of 0.57. CommVault Systems has a 12 month low of $114.46 and a 12 month high of $200.68. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 4.18.

CommVault Systems (NASDAQ:CVLT) last posted its 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). CommVault Systems had a return on equity of 31.53% and a net margin of 7.32%.The firm had revenue of $276.19 million during the quarter, compared to analysts’ expectations of $273.31 million. During the same quarter in the prior year, the company earned $0.83 earnings per share. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. As a group, sell-side analysts forecast that CommVault Systems will post 1.65 EPS for the current fiscal year.

Insider Buying and Selling

In other CommVault Systems news, CFO Jennifer Leigh Dirico sold 830 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $123.58, for a total value of $102,571.40. Following the completion of the sale, the chief financial officer owned 44,313 shares of the company’s stock, valued at $5,476,200.54. This represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary Merrill sold 1,845 shares of the stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $122.40, for a total transaction of $225,828.00. Following the transaction, the insider owned 67,318 shares in the company, valued at $8,239,723.20. The trade was a 2.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 33,111 shares of company stock worth $4,058,851 in the last quarter. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On CommVault Systems

A number of large investors have recently added to or reduced their stakes in CVLT. Cullen Frost Bankers Inc. boosted its position in CommVault Systems by 43.8% during the third quarter. Cullen Frost Bankers Inc. now owns 243 shares of the software maker’s stock valued at $46,000 after buying an additional 74 shares during the period. GAMMA Investing LLC lifted its stake in shares of CommVault Systems by 6.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,422 shares of the software maker’s stock valued at $248,000 after acquiring an additional 80 shares during the last quarter. JSF Financial LLC boosted its holdings in CommVault Systems by 1.1% during the 3rd quarter. JSF Financial LLC now owns 7,345 shares of the software maker’s stock valued at $1,387,000 after acquiring an additional 82 shares during the period. Farther Finance Advisors LLC boosted its holdings in CommVault Systems by 17.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 652 shares of the software maker’s stock valued at $123,000 after acquiring an additional 95 shares during the period. Finally, Louisiana State Employees Retirement System grew its position in CommVault Systems by 0.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 12,400 shares of the software maker’s stock worth $2,162,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.