Commvault Systems (NASDAQ:CVLT) Given New $175.00 Price Target at DA Davidson

Commvault Systems (NASDAQ:CVLT) had its price objective upped by DA Davidson from $170.00 to $175.00 in a research note released on Friday, Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

Several other research firms also recently commented on CVLT. Wells Fargo & Company increased their target price on shares of Commvault Systems from $125.00 to $140.00 and gave the stock an overweight rating in a research report on Thursday, May 16th. KeyCorp increased their price target on Commvault Systems from $140.00 to $170.00 and gave the company an overweight rating in a report on Wednesday, July 31st. Piper Sandler lifted their price target on shares of Commvault Systems from $107.00 to $123.00 and gave the company a neutral rating in a research report on Monday, July 15th. StockNews.com downgraded shares of Commvault Systems from a strong-buy rating to a buy rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada lifted their target price on shares of Commvault Systems from $121.00 to $152.00 and gave the stock a sector perform rating in a report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $140.00.

Commvault Systems Price Performance

Shares of CVLT stock opened at $139.53 on Friday. The firm has a market cap of $6.11 billion, a P/E ratio of 37.11 and a beta of 0.60. Commvault Systems has a fifty-two week low of $63.70 and a fifty-two week high of $157.13. The stock’s 50-day moving average is $137.57 and its two-hundred day moving average is $115.83.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. The firm had revenue of $224.67 million for the quarter, compared to the consensus estimate of $215.54 million. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.29 earnings per share. As a group, research analysts expect that Commvault Systems will post 1.66 EPS for the current year.

Insider Activity at Commvault Systems

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was 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 owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related 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 value of $2,621,414.88. Following the sale, the insider now owns 94,530 shares of the company’s stock, valued at $14,251,342.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.89, for a total transaction of $189,592.48. Following the transaction, the director now owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Commvault Systems

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Xponance Inc. grew its holdings in shares of Commvault Systems by 1.3% in the 2nd quarter. Xponance Inc. now owns 6,371 shares of the software maker’s stock worth $775,000 after purchasing an additional 79 shares during the last quarter. EFG Asset Management North America Corp. grew its stake in Commvault Systems by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 21,699 shares of the software maker’s stock worth $2,637,000 after buying an additional 103 shares during the last quarter. Natixis Advisors LLC grew its stake in Commvault Systems by 1.0% during the second quarter. Natixis Advisors LLC now owns 13,693 shares of the software maker’s stock worth $1,665,000 after buying an additional 138 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Commvault Systems by 5.4% during the second quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock worth $328,000 after buying an additional 139 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Commvault Systems by 5.9% in the second quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker’s stock valued at $334,000 after acquiring an additional 153 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

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.