CommVault Systems (NASDAQ:CVLT) Given New $160.00 Price Target at Royal Bank Of Canada

CommVault Systems (NASDAQ:CVLT) had its target price lifted by Royal Bank Of Canada from $150.00 to $160.00 in a report released on Monday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the software maker’s stock.

A number of other equities analysts have also weighed in on the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a $130.00 price objective on shares of CommVault Systems in a research note on Wednesday, July 29th. Cantor Fitzgerald reiterated a “neutral” rating and set a $132.00 target price on shares of CommVault Systems in a research report on Monday, July 27th. Stephens lifted their target price on CommVault Systems from $135.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, June 16th. UBS Group reissued a “neutral” rating on shares of CommVault Systems in a report on Monday, July 27th. Finally, KeyCorp upped their price target on CommVault Systems from $125.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.62.

CommVault Systems Trading Down 1.2%

Shares of CommVault Systems stock opened at $155.37 on Monday. The company has a market capitalization of $6.44 billion, a P/E ratio of 98.96 and a beta of 0.79. The company has a debt-to-equity ratio of 16.94, a quick ratio of 2.04 and a current ratio of 2.04. The company has a fifty day moving average of $141.50 and a 200 day moving average of $124.28. CommVault Systems has a fifty-two week low of $71.75 and a fifty-two week high of $177.81.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.26. The business had revenue of $314.13 million during the quarter, compared to analyst estimates of $310.43 million. CommVault Systems had a return on equity of 88.75% and a net margin of 5.62%. CommVault Systems’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.01 EPS. On average, sell-side analysts anticipate that CommVault Systems will post 2.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CommVault Systems news, Director Vivie Lee sold 595 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $134.19, for a total value of $79,843.05. Following the sale, the director owned 15,140 shares in the company, valued at $2,031,636.60. The trade was a 3.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director A. Shane Sanders sold 476 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $134.19, for a total transaction of $63,874.44. Following the transaction, the director directly owned 8,696 shares of the company’s stock, valued at $1,166,916.24. This trade represents a 5.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 29,348 shares of company stock worth $4,202,441 in the last 90 days. 0.86% of the stock is owned by company insiders.

Hedge Funds Weigh In On CommVault Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in CommVault Systems by 4.3% during the third quarter. GAMMA Investing LLC now owns 1,626 shares of the software maker’s stock valued at $244,000 after buying an additional 67 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in CommVault Systems during the 2nd quarter valued at approximately $537,000. Tidal Investments LLC increased its stake in CommVault Systems by 38.3% in the 2nd quarter. Tidal Investments LLC now owns 59,661 shares of the software maker’s stock worth $8,456,000 after acquiring an additional 16,523 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in CommVault Systems in the 2nd quarter worth approximately $371,000. Finally, NewEdge Advisors LLC purchased a new stake in shares of CommVault Systems during the 2nd quarter worth approximately $215,000. 93.50% of the stock is owned by institutional investors.

About CommVault Systems

Commvault Systems, Inc develops data protection, cyber resilience and information management software and services. Its platform helps organizations back up, recover, manage and secure data across on-premises data centers, public and private clouds, software-as-a-service applications and endpoint environments.

The company’s offerings include backup and recovery, disaster recovery, cyber-recovery capabilities, ransomware protection, data governance and workload management. Commvault also provides cloud-based services through its Commvault Cloud platform, designed to help customers detect threats, protect critical workloads and restore operations following data loss or cyberattacks.

Commvault serves businesses, government organizations and other institutions worldwide through direct sales, partners and service providers.