CommVault Systems (NASDAQ:CVLT) Price Target Raised to $110.00

CommVault Systems (NASDAQ:CVLT) had its price target boosted by Royal Bank Of Canada from $100.00 to $110.00 in a research report released on Wednesday,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the software maker’s stock.

A number of other research firms have also recently weighed in on CVLT. Stephens decreased their price objective on CommVault Systems from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, January 28th. Weiss Ratings reissued a “hold (c)” rating on shares of CommVault Systems in a report on Wednesday, January 21st. Mizuho reduced their price target on CommVault Systems from $180.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, January 28th. Oppenheimer reduced their price target on CommVault Systems from $180.00 to $150.00 and set an “outperform” rating for the company in a report on Wednesday, January 28th. Finally, Zacks Research raised CommVault Systems from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $135.00.

CommVault Systems Stock Up 0.7%

CommVault Systems stock opened at $99.57 on Wednesday. CommVault Systems has a twelve month low of $71.75 and a twelve month high of $200.68. The stock has a 50 day moving average of $85.57 and a two-hundred day moving average of $110.54. The company has a current ratio of 1.95, a quick ratio of 2.34 and a debt-to-equity ratio of 117.54. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 62.62 and a beta of 0.77.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, April 28th. The software maker reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.19. CommVault Systems had a return on equity of 51.64% and a net margin of 5.97%.The company had revenue of $311.69 million during the quarter, compared to analysts’ expectations of $306.71 million. During the same period last year, the firm earned $1.03 EPS. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, research analysts expect that CommVault Systems will post 2.72 earnings per share for the current year.

Insider Activity at CommVault Systems

In other news, insider Gary Merrill sold 1,892 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $91.28, for a total value of $172,701.76. Following the completion of the sale, the insider directly owned 62,833 shares of the company’s stock, valued at $5,735,396.24. This trade represents a 2.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanjay Mirchandani sold 10,052 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $80.09, for a total value of $805,064.68. Following the completion of the sale, the chief executive officer directly owned 332,529 shares of the company’s stock, valued at $26,632,247.61. This represents a 2.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 31,355 shares of company stock valued at $2,613,165 over the last three months. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On CommVault Systems

Hedge funds and other institutional investors have recently bought and sold shares of the company. Boston Trust Walden Corp acquired a new position in CommVault Systems during the fourth quarter worth $30,830,000. Federated Hermes Inc. raised its holdings in CommVault Systems by 9.7% during the third quarter. Federated Hermes Inc. now owns 322,053 shares of the software maker’s stock worth $60,797,000 after purchasing an additional 28,596 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in CommVault Systems by 131.7% during the third quarter. JPMorgan Chase & Co. now owns 382,778 shares of the software maker’s stock worth $72,261,000 after purchasing an additional 217,557 shares during the last quarter. Emerald Advisers LLC raised its holdings in CommVault Systems by 47.4% during the third quarter. Emerald Advisers LLC now owns 156,894 shares of the software maker’s stock worth $29,618,000 after purchasing an additional 50,470 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in CommVault Systems by 19.4% during the third quarter. Victory Capital Management Inc. now owns 118,284 shares of the software maker’s stock worth $22,330,000 after purchasing an additional 19,218 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

About CommVault Systems

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.