KeyCorp Cuts CommVault Systems (NASDAQ:CVLT) Price Target to $152.00

CommVault Systems (NASDAQ:CVLT) had its price objective reduced by KeyCorp from $185.00 to $152.00 in a report released on Monday morning,Benzinga reports. They currently have an overweight rating on the software maker’s stock.

A number of other analysts have also commented on the company. DA Davidson reaffirmed a “buy” rating and set a $220.00 price objective on shares of CommVault Systems in a research note on Thursday, November 13th. Royal Bank Of Canada decreased their price target on shares of CommVault Systems from $217.00 to $167.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 29th. Stephens started coverage on shares of CommVault Systems in a research report on Tuesday, December 30th. They issued an “overweight” rating and a $162.00 price objective for the company. Truist Financial reduced their price objective on shares of CommVault Systems from $230.00 to $210.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Finally, Wall Street Zen cut shares of CommVault Systems from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $185.42.

CommVault Systems Price Performance

Shares of CVLT opened at $124.38 on Monday. CommVault Systems has a fifty-two week low of $114.46 and a fifty-two week high of $200.68. The firm’s 50 day moving average price is $124.46 and its 200 day moving average price is $157.93. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 4.18. The company has a market cap of $5.48 billion, a P/E ratio of 69.88 and a beta of 0.57.

CommVault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, October 28th. The software maker reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.04). CommVault Systems had a net margin of 7.32% and a return on equity of 31.53%. The firm had revenue of $276.19 million during the quarter, compared to analyst estimates of $273.31 million. During the same period last year, the business earned $0.83 EPS. The firm’s revenue was up 18.4% compared to the same quarter last year. On average, research analysts forecast that CommVault Systems will post 1.65 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Sanjay Mirchandani sold 14,653 shares of the business’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $123.65, for a total value of $1,811,843.45. Following the sale, the chief executive officer owned 372,369 shares of the company’s stock, valued at approximately $46,043,426.85. The trade was a 3.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jennifer Leigh Dirico sold 830 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $123.58, for a total transaction of $102,571.40. Following the transaction, the chief financial officer owned 44,313 shares of the company’s stock, valued at approximately $5,476,200.54. This trade represents a 1.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 33,111 shares of company stock worth $4,058,851. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On CommVault Systems

Large investors have recently made changes to their positions in the business. Dakota Wealth Management purchased a new stake in shares of CommVault Systems during the 4th quarter worth about $563,000. Fort Washington Investment Advisors Inc. OH lifted its stake in CommVault Systems by 27.4% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 166,236 shares of the software maker’s stock worth $20,839,000 after purchasing an additional 35,719 shares during the period. Byrne Asset Management LLC raised its stake in CommVault Systems by 11,125.0% during the fourth quarter. Byrne Asset Management LLC now owns 898 shares of the software maker’s stock worth $113,000 after acquiring an additional 890 shares in the last quarter. Moody National Bank Trust Division acquired a new position in CommVault Systems in the fourth quarter worth $229,000. Finally, Congress Asset Management Co. boosted its position in shares of CommVault Systems by 7.8% in the 4th quarter. Congress Asset Management Co. now owns 643,509 shares of the software maker’s stock worth $80,670,000 after purchasing an additional 46,511 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.