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

Commvault Systems (NASDAQ:CVLT - Get Free Report) had its target price upped by Royal Bank of Canada from $164.00 to $182.00 in a 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 price target would suggest a potential upside of 12.17% from the stock's current price.

Other equities research analysts have also recently issued research reports about the stock. DA Davidson increased their target price on shares of Commvault Systems from $170.00 to $175.00 and gave the company a "buy" rating in a research note on Friday, September 6th. KeyCorp raised their price objective on Commvault Systems from $140.00 to $170.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 31st. Guggenheim cut Commvault Systems from a "buy" rating to a "neutral" rating in a research report on Tuesday, October 15th. Piper Sandler upped their target price on Commvault Systems from $107.00 to $123.00 and gave the company a "neutral" rating in a research note on Monday, July 15th. Finally, StockNews.com upgraded shares of Commvault Systems from a "buy" rating to a "strong-buy" rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $144.29.

Commvault Systems Stock Performance

Shares of CVLT traded down $7.54 during mid-day trading on Wednesday, hitting $162.25. The company's stock had a trading volume of 659,874 shares, compared to its average volume of 353,705. The stock's 50-day moving average is $149.48 and its two-hundred day moving average is $129.74. The firm has a market capitalization of $7.10 billion, a PE ratio of 42.99 and a beta of 0.60. Commvault Systems has a one year low of $64.32 and a one year high of $171.26.

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

Insider Activity at Commvault Systems

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

Hedge Funds Weigh In On Commvault Systems

Institutional investors and hedge funds have recently bought and sold shares of the business. National Bank of Canada FI acquired a new stake in shares of Commvault Systems in the second quarter valued at $30,000. Hexagon Capital Partners LLC grew its holdings in Commvault Systems by 124.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker's stock worth $43,000 after acquiring an additional 196 shares during the last quarter. 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 acquiring an additional 170 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in Commvault Systems in the 2nd quarter valued at about $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 acquiring 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.