Commvault Systems (NASDAQ:CVLT) Price Target Raised to $182.00 at Royal Bank of Canada

Commvault Systems (NASDAQ:CVLT) had its target price raised by Royal Bank of Canada from $164.00 to $182.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a sector perform rating on the software maker’s stock.

Several other equities research analysts have also weighed in on CVLT. StockNews.com raised shares of Commvault Systems from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 24th. KeyCorp upped their target price on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. DA Davidson upped their price target on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Finally, Piper Sandler upped their price target on shares of Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Commvault Systems has an average rating of “Moderate Buy” and a consensus target price of $144.29.

Commvault Systems Price Performance

Shares of Commvault Systems stock opened at $162.25 on Wednesday. The company’s fifty day moving average price is $149.48 and its two-hundred day moving average price is $129.74. Commvault Systems has a 52-week low of $64.32 and a 52-week high of $171.26. The firm has a market capitalization of $7.10 billion, a PE ratio of 43.15 and a beta of 0.60.

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

Insider Buying and Selling at Commvault Systems

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 transaction, the director now directly owns 7,131 shares in the company, valued at approximately $1,097,389.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Commvault Systems 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 transaction of $2,621,414.88. Following the transaction, the insider now directly owns 94,530 shares in the company, valued at approximately $14,251,342.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $189,592.48. Following the completion of the sale, the director now directly owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

A number of institutional investors and hedge funds have recently modified their holdings of CVLT. National Bank of Canada FI bought a new stake in shares of Commvault Systems in the 2nd quarter valued at about $30,000. Hexagon Capital Partners LLC increased its stake in shares of Commvault Systems by 124.8% in the 2nd quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock valued at $43,000 after acquiring an additional 196 shares during the last quarter. Signaturefd LLC increased its stake in shares of 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 during the last quarter. Strategic Financial Concepts LLC bought a new stake in Commvault Systems during the 2nd quarter worth approximately $56,000. Finally, GAMMA Investing LLC increased its stake in Commvault Systems by 140.5% during the 2nd quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock worth $64,000 after purchasing an additional 309 shares in the last quarter. 93.50% of the stock is 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.