CommVault Systems, Inc. (NASDAQ:CVLT) Stock Has Average Target Price of $174.00

CommVault Systems, Inc. (NASDAQ:CVLT) has earned a consensus recommendation of “Moderate Buy” from the twenty-one brokerages that are covering the firm, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $174.00.

Several research analysts have weighed in on CVLT shares. Mizuho increased their price target on shares of CommVault Systems from $175.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, October 15th. Truist Financial reiterated a “buy” rating and issued a $200.00 price target (up from $182.00) on shares of CommVault Systems in a research note on Wednesday, October 28th. Royal Bank Of Canada upped their target price on shares of CommVault Systems from $160.00 to $180.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 28th. KeyCorp raised their price target on CommVault Systems from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 28th. Finally, Cantor Fitzgerald boosted their price objective on shares of CommVault Systems from $132.00 to $171.00 and gave the company a “neutral” rating in a research report on Monday, October 26th.

CommVault Systems Stock Up 0.9%

Shares of NASDAQ:CVLT opened at $162.44 on Monday. CommVault Systems has a 1 year low of $71.75 and a 1 year high of $174.25. The company has a market cap of $6.65 billion, a PE ratio of 56.29 and a beta of 0.90. The company has a debt-to-equity ratio of 70.45, a current ratio of 1.94 and a quick ratio of 1.94. The stock’s 50-day moving average is $149.78 and its 200 day moving average is $119.70.

CommVault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, October 27th. The software maker reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.13. The firm had revenue of $312.39 million for the quarter, compared to analyst estimates of $310.41 million. CommVault Systems had a net margin of 6.60% and a return on equity of 169.40%. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 EPS. Sell-side analysts anticipate that CommVault Systems will post 2.98 EPS for the current year.

Insider Activity at CommVault Systems

In other CommVault Systems news, CEO Sanjay Mirchandani sold 6,857 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $142.80, for a total value of $979,179.60. Following the completion of the transaction, the chief executive officer directly owned 257,676 shares in the company, valued at approximately $36,796,132.80. The trade was a 2.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through 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, CFO Gary Merrill sold 1,293 shares of CommVault Systems stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total transaction of $184,640.40. Following the completion of the transaction, the chief financial officer directly owned 69,628 shares in the company, valued at $9,942,878.40. This represents a 1.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders have sold 29,348 shares of company stock valued at $4,202,441 over the last 90 days. Company insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVLT. BlackRock Inc. acquired a new stake in CommVault Systems during the second quarter valued at $855,420,000. Boston Trust Walden Corp increased its holdings in CommVault Systems by 114.1% in the third quarter. Boston Trust Walden Corp now owns 561,288 shares of the software maker’s stock valued at $84,148,000 after buying an additional 299,141 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of CommVault Systems in the second quarter worth about $65,765,000. American Capital Management Inc. purchased a new position in CommVault Systems during the second quarter worth approximately $62,493,000. Finally, Wellington Management Group LLP grew its holdings in CommVault Systems by 57.1% in the second quarter. Wellington Management Group LLP now owns 402,054 shares of the software maker’s stock valued at $56,983,000 after purchasing an additional 146,055 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

About CommVault Systems

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.