Commvault Systems (NASDAQ:CVLT) Price Target Raised to $182.00

Commvault Systems (NASDAQ:CVLT) had its target price raised by equities research analysts at Royal Bank of Canada from $164.00 to $182.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the software maker’s stock. Royal Bank of Canada’s target price points to a potential upside of 13.13% from the company’s previous close.

CVLT has been the subject of several other research reports. Guggenheim downgraded shares of Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. StockNews.com raised shares of Commvault Systems from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 24th. KeyCorp lifted their price objective on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Piper Sandler increased their target price on Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Finally, DA Davidson lifted their price target on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 6th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $144.29.

Commvault Systems Price Performance

Shares of NASDAQ CVLT traded down $8.92 during mid-day trading on Wednesday, hitting $160.87. The company had a trading volume of 190,872 shares, compared to its average volume of 351,474. The firm’s 50 day simple moving average is $149.48 and its two-hundred day simple moving average is $129.74. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of 42.78 and a beta of 0.60. Commvault Systems has a 12 month low of $64.32 and a 12 month high of $171.26.

Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, July 30th. The software maker reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.12. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The firm had revenue of $224.67 million for the quarter, compared to the consensus estimate of $215.54 million. During the same quarter in the previous year, the business earned $0.29 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. Equities analysts forecast that Commvault Systems will post 1.66 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Gary Merrill sold 17,388 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total value of $2,621,414.88. Following the completion of the sale, the insider now directly owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the sale, the insider now directly owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.89, for a total value of $189,592.48. Following the completion of the transaction, the director now directly owns 7,131 shares of the company’s stock, valued at $1,097,389.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Commvault Systems

Several large investors have recently made changes to their positions in the stock. National Bank of Canada FI bought a new stake in shares of Commvault Systems during the 2nd quarter worth about $30,000. Hexagon Capital Partners LLC lifted its holdings in Commvault Systems by 124.8% in the second quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock valued at $43,000 after buying an additional 196 shares during the period. Signaturefd LLC increased its position in Commvault Systems by 70.8% in the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock valued at $50,000 after buying an additional 170 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Commvault Systems in the 2nd quarter worth $56,000. Finally, GAMMA Investing LLC raised its stake in shares of Commvault Systems by 140.5% in the second quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock worth $64,000 after purchasing an additional 309 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

About Commvault Systems

Commvault Systems, Inc provides data protection platform that helps customers to secure, defend, and recover their data in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; Commvault Complete Data Protection, a data protection solution; and Metallic Data Protection as-a-service, which delivers enterprise-grade data protection as a service on a cloud platform, with advanced built-in security controls.