Piper Sandler Increases CommVault Systems (NASDAQ:CVLT) Price Target to $170.00

CommVault Systems (NASDAQ:CVLT - Get Free Report) had its price target hoisted by equities research analysts at Piper Sandler from $168.00 to $170.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the software maker's stock. Piper Sandler's target price indicates a potential upside of 1.96% from the stock's previous close.

Several other research analysts also recently commented on CVLT. Oppenheimer boosted their target price on CommVault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Wells Fargo & Company boosted their target price on CommVault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. DA Davidson boosted their target price on CommVault Systems from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Royal Bank Of Canada boosted their price target on CommVault Systems from $175.00 to $185.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 30th. Finally, Guggenheim reaffirmed a "neutral" rating on shares of CommVault Systems in a research note on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $186.14.

CommVault Systems Stock Performance

Shares of NASDAQ CVLT traded down $2.85 during mid-day trading on Monday, reaching $166.73. The company had a trading volume of 247,723 shares, compared to its average volume of 434,812. CommVault Systems has a one year low of $119.67 and a one year high of $192.01. The firm has a market cap of $7.42 billion, a price-to-earnings ratio of 98.66 and a beta of 0.73. The business's 50-day simple moving average is $177.71 and its 200 day simple moving average is $167.35.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last issued its earnings results on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, topping the consensus estimate of $0.93 by $0.10. The firm had revenue of $275.04 million during the quarter, compared to the consensus estimate of $262.52 million. CommVault Systems had a return on equity of 32.31% and a net margin of 7.64%. The business's quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.79 earnings per share. On average, sell-side analysts anticipate that CommVault Systems will post 1.65 EPS for the current year.

Insider Activity at CommVault Systems

In related news, Director Nicola Adamo sold 1,500 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $169.74, for a total value of $254,610.00. Following the sale, the director directly owned 16,178 shares in the company, valued at $2,746,053.72. This represents a 8.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mirchandani sold 1,709 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $299,075.00. Following the completion of the sale, the chief executive officer owned 469,648 shares in the company, valued at $82,188,400. The trade was a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,957 shares of company stock worth $859,428 over the last ninety days. Insiders own 1.00% of the company's stock.

Institutional Trading of CommVault Systems

Institutional investors have recently added to or reduced their stakes in the stock. Quarry LP boosted its holdings in shares of CommVault Systems by 888.2% during the 4th quarter. Quarry LP now owns 168 shares of the software maker's stock worth $25,000 after buying an additional 151 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in shares of CommVault Systems by 101.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 159 shares of the software maker's stock worth $25,000 after buying an additional 80 shares in the last quarter. Whipplewood Advisors LLC boosted its holdings in shares of CommVault Systems by 584.0% during the 1st quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker's stock worth $27,000 after buying an additional 146 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of CommVault Systems during the 1st quarter worth approximately $27,000. Finally, Brooklyn Investment Group boosted its holdings in shares of CommVault Systems by 8,550.0% during the 1st quarter. Brooklyn Investment Group now owns 173 shares of the software maker's stock worth $27,000 after buying an additional 171 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

CommVault Systems Company Profile

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.