CommVault Systems (NASDAQ:CVLT) Price Target Raised to $182.00 at Truist Financial

CommVault Systems (NASDAQ:CVLT) had its price target hoisted by Truist Financial from $155.00 to $182.00 in a research report released on Tuesday,Benzinga reports. Truist Financial currently has a buy rating on the software maker’s stock.

Several other equities analysts have also issued reports on the company. Scotiabank raised their price objective on CommVault Systems from $105.00 to $110.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. Stephens boosted their target price on CommVault Systems from $135.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, June 16th. DA Davidson reissued a “buy” rating and issued a $125.00 target price on shares of CommVault Systems in a research report on Monday, April 13th. Jefferies Financial Group started coverage on CommVault Systems in a research note on Monday, April 27th. They set a “hold” rating and a $105.00 price target on the stock. Finally, William Blair reaffirmed a “market perform” rating on shares of CommVault Systems in a research report on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $145.47.

CommVault Systems Stock Down 0.2%

Shares of NASDAQ:CVLT opened at $146.49 on Tuesday. The firm has a 50 day simple moving average of $128.57 and a 200-day simple moving average of $106.56. CommVault Systems has a twelve month low of $71.75 and a twelve month high of $200.68. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 117.54. The company has a market capitalization of $6.07 billion, a PE ratio of 92.13 and a beta of 0.79.

CommVault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, April 28th. The software maker reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.19. CommVault Systems had a net margin of 5.97% and a return on equity of 51.64%. The firm had revenue of $311.69 million for the quarter, compared to the consensus estimate of $306.71 million. During the same period last year, the firm posted $1.03 EPS. The company’s revenue was up 13.3% on a year-over-year basis. On average, equities analysts predict that CommVault Systems will post 2.88 EPS for the current fiscal year.

Insider Activity

In other news, CFO Gary Merrill sold 4,560 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $105.10, for a total transaction of $479,256.00. Following the completion of the sale, the chief financial officer owned 72,507 shares in the company, valued at $7,620,485.70. This represents a 5.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 Nicole Abrahamsen sold 1,065 shares of CommVault Systems stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $105.84, for a total transaction of $112,719.60. Following the completion of the transaction, the chief accounting officer owned 13,581 shares in the company, valued at approximately $1,437,413.04. This trade represents a 7.27% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 55,279 shares of company stock valued at $5,786,557. Company insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CVLT. State of Wyoming acquired a new stake in CommVault Systems in the second quarter valued at about $35,000. FNY Investment Advisers LLC acquired a new position in CommVault Systems during the 4th quarter worth approximately $36,000. Essential Partners LLC raised its stake in shares of CommVault Systems by 9,920.0% during the 1st quarter. Essential Partners LLC now owns 501 shares of the software maker’s stock worth $39,000 after buying an additional 496 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of CommVault Systems during the 3rd quarter worth approximately $39,000. Finally, Assetmark Inc. lifted its holdings in shares of CommVault Systems by 33.6% in the 4th quarter. Assetmark Inc. now owns 326 shares of the software maker’s stock valued at $41,000 after buying an additional 82 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

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.