CommVault Systems (NASDAQ:CVLT) Price Target Raised to $200.00

CommVault Systems (NASDAQ:CVLT) had its price objective boosted by KeyCorp from $175.00 to $200.00 in a report issued on Wednesday,Benzinga reports. KeyCorp currently has an overweight rating on the software maker’s stock.

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group boosted their target price on shares of CommVault Systems from $130.00 to $170.00 and gave the stock a “hold” rating in a research report on Monday, October 26th. DA Davidson set a $175.00 target price on shares of CommVault Systems in a report on Wednesday, July 29th. Oppenheimer raised their price target on shares of CommVault Systems from $150.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Scotiabank lifted their price target on CommVault Systems from $160.00 to $180.00 and gave the company a “sector perform” rating in a research note on Wednesday. Finally, Mizuho lifted their price target on CommVault Systems from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, CommVault Systems presently has a consensus rating of “Moderate Buy” and an average target price of $174.00.

CommVault Systems Stock Performance

Shares of CVLT stock opened at $165.13 on Wednesday. The firm has a market capitalization of $6.76 billion, a PE ratio of 60.00 and a beta of 0.79. The firm has a fifty day simple moving average of $148.08 and a two-hundred day simple moving average of $119.17. The company has a current ratio of 1.94, a quick ratio of 2.04 and a debt-to-equity ratio of 70.45. CommVault Systems has a 12 month low of $71.75 and a 12 month high of $174.25.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, October 27th. The software maker reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.13. CommVault Systems had a net margin of 6.60% and a return on equity of 169.40%. The firm had revenue of $312.39 million for the quarter, compared to the consensus estimate of $310.41 million. During the same quarter in the prior year, the company posted $0.91 earnings per share. The business’s revenue was up 13.1% on a year-over-year basis. Analysts forecast that CommVault Systems will post 2.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other CommVault Systems news, Director A. Shane Sanders sold 476 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was 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 in the company, valued at approximately $1,166,916.24. This trade represents a 5.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 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 sold a total of 29,348 shares of company stock worth $4,202,441 in the last three months. 0.86% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CVLT. Madison Asset Management LLC boosted its holdings in CommVault Systems by 39.7% during the first quarter. Madison Asset Management LLC now owns 33,459 shares of the software maker’s stock worth $2,606,000 after purchasing an additional 9,512 shares during the last quarter. Boston Trust Walden Corp grew its position in CommVault Systems by 9.8% in the 1st quarter. Boston Trust Walden Corp now owns 270,027 shares of the software maker’s stock worth $21,032,000 after purchasing an additional 24,094 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in CommVault Systems in the 1st quarter valued at about $997,000. Pinnacle Associates Ltd. increased its stake in CommVault Systems by 5.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 134,577 shares of the software maker’s stock valued at $20,176,000 after buying an additional 7,020 shares during the last quarter. Finally, 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 valued at $8,456,000 after buying an additional 16,523 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

CommVault Systems Company Profile

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.