CommVault Systems, Inc. (NASDAQ:CVLT) Stock Has Average Price Target of $174.00

Key Points

• Analyst consensus is “Moderate Buy” among 21 brokerages, with 10 buys, 10 holds and one strong buy; the average 12-month price target is $174.
• CommVault reported quarterly EPS of $1.38, beating the $1.25 consensus estimate, while revenue rose 13.1% year over year to $312.39 million, slightly above expectations.
• The stock opened at $165.13, near its 52-week high of $174.25, while institutional investors own 93.5% of shares; insiders have sold $4.2 million of stock over the past 90 days.

Shares of CommVault Systems, Inc. (NASDAQ:CVLT - Get Free Report) have been given an average rating of "Moderate Buy" by the twenty-one brokerages that are presently covering the firm, Marketbeat.com reports. Ten analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $174.00.

Several research firms have recently commented on CVLT. Cantor Fitzgerald increased their target price on CommVault Systems from $132.00 to $171.00 and gave the company a "neutral" rating in a research note on Monday, October 26th. UBS Group reiterated a "neutral" rating on shares of CommVault Systems in a research report on Monday, July 27th. Oppenheimer boosted their price target on CommVault Systems from $150.00 to $175.00 and gave the company an "outperform" rating in a report on Friday, July 17th. Wells Fargo & Company increased their target price on CommVault Systems from $155.00 to $185.00 and gave the stock an "overweight" rating in a report on Wednesday, October 28th. Finally, Royal Bank Of Canada raised their target price on CommVault Systems from $160.00 to $180.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 28th.

CommVault Systems Stock Performance

NASDAQ:CVLT opened at $165.13 on Monday. The stock's fifty day moving average is $148.08 and its 200 day moving average is $119.17. CommVault Systems has a fifty-two week low of $71.75 and a fifty-two week high of $174.25. The firm has a market capitalization of $6.76 billion, a PE ratio of 85.56 and a beta of 0.90. The company has a debt-to-equity ratio of 70.45, a quick ratio of 1.94 and a current ratio of 1.94.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last announced its earnings results 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. The business had revenue of $312.39 million during the quarter, compared to the consensus estimate of $310.41 million. CommVault Systems had a return on equity of 169.40% and a net margin of 6.60%. The business's quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 EPS. On average, sell-side analysts anticipate that CommVault Systems will post 2.98 earnings per share for the current year.

Insider Activity

In other news, Director Vivie Lee sold 595 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $134.19, for a total value of $79,843.05. Following the sale, the director directly owned 15,140 shares in the company, valued at approximately $2,031,636.60. This represents a 3.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Danielle Abrahamsen sold 486 shares of the business's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $142.80, for a total transaction of $69,400.80. Following the completion of the transaction, the chief accounting officer owned 12,160 shares of the company's stock, valued at approximately $1,736,448. This represents a 3.84% decrease in their ownership of the stock. 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. Over the last 90 days, insiders have sold 29,348 shares of company stock valued at $4,202,441. Company insiders own 0.86% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CVLT. Transamerica Financial Advisors LLC bought a new stake in CommVault Systems in the second quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in CommVault Systems during the second quarter valued at approximately $27,000. Silvant Capital Management LLC purchased a new stake in shares of CommVault Systems during the second quarter worth about $30,000. Root Financial Partners LLC acquired a new stake in CommVault Systems in the 3rd quarter worth about $49,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in CommVault Systems during the 2nd quarter worth approximately $53,000. 93.50% of the stock is owned by institutional investors.

About CommVault Systems

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.

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