CommVault Systems (NASDAQ:CVLT) Stock Gets Price Target Boost from Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised CommVault Systems’ price target from $150 to $160 while maintaining a “sector perform” rating, implying approximately 1.05% upside from the stock’s current price.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $157.62; other firms have set targets as high as $182.
• CommVault recently exceeded quarterly expectations, reporting $1.42 in EPS versus $1.16 expected and $314.13 million in revenue, up 11.4% year over year.

CommVault Systems (NASDAQ:CVLT - Get Free Report) had its target price lifted by Royal Bank Of Canada from $150.00 to $160.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a "sector perform" rating on the software maker's stock. Royal Bank Of Canada's price target would indicate a potential upside of 1.05% from the stock's current price.

CVLT has been the topic of a number of other reports. Wall Street Zen cut shares of CommVault Systems from a "buy" rating to a "hold" rating in a research note on Saturday. Weiss Ratings reiterated a "hold (c)" rating on shares of CommVault Systems in a research report on Friday, September 11th. Oppenheimer increased their price target on CommVault Systems from $150.00 to $175.00 and gave the company an "outperform" rating in a research note on Friday, July 17th. Truist Financial increased their price target on CommVault Systems from $155.00 to $182.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Finally, Mizuho raised their price target on CommVault Systems from $140.00 to $175.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $157.62.

CommVault Systems Price Performance

Shares of CVLT stock opened at $158.34 on Monday. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of 100.74 and a beta of 0.79. CommVault Systems has a 12 month low of $71.75 and a 12 month high of $177.81. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 16.94. The stock has a 50-day moving average price of $140.89 and a 200 day moving average price of $123.73.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last released its earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.26. The company had revenue of $314.13 million for the quarter, compared to the consensus estimate of $310.43 million. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The company's revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.01 EPS. Research analysts expect that CommVault Systems will post 2.84 EPS for the current year.

Insider Buying and Selling

In other news, CAO Danielle Abrahamsen sold 486 shares of the firm's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total transaction of $69,400.80. Following the sale, the chief accounting officer owned 12,160 shares of the company's stock, valued at $1,736,448. This trade represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 dated Wednesday, August 19th. The shares were sold at an average price of $142.80, for a total value of $184,640.40. Following the transaction, the chief financial officer owned 69,628 shares in the company, valued at $9,942,878.40. This trade represents a 1.82% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last quarter, insiders sold 29,348 shares of company stock valued at $4,202,441. 0.86% of the stock is owned by company insiders.

Institutional Trading of CommVault Systems

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in CommVault Systems by 4.3% in the third quarter. GAMMA Investing LLC now owns 1,626 shares of the software maker's stock valued at $244,000 after purchasing an additional 67 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in CommVault Systems in the 2nd quarter valued at $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 valued at $8,456,000 after buying an additional 16,523 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of CommVault Systems in the second quarter valued at about $371,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of CommVault Systems in the second quarter valued at about $215,000. 93.50% of the stock is owned by institutional investors.

CommVault Systems Company Profile

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.

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