William Blair Brokers Lift Earnings Estimates for Commvault Systems, Inc. (NASDAQ:CVLT)

Commvault Systems, Inc. (NASDAQ:CVLTFree Report) – Stock analysts at William Blair boosted their FY2024 EPS estimates for shares of Commvault Systems in a report released on Tuesday, January 30th. William Blair analyst J. Ader now anticipates that the software maker will post earnings of $1.35 per share for the year, up from their previous estimate of $1.33. The consensus estimate for Commvault Systems’ current full-year earnings is $1.33 per share.

A number of other research firms have also commented on CVLT. Royal Bank of Canada boosted their price target on shares of Commvault Systems from $86.00 to $97.00 and gave the company a “sector perform” rating in a research report on Wednesday. KeyCorp upgraded shares of Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 price target on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Commvault Systems presently has a consensus rating of “Moderate Buy” and an average target price of $85.60.

Check Out Our Latest Stock Report on CVLT

Commvault Systems Stock Up 0.7 %

NASDAQ:CVLT opened at $95.29 on Friday. The firm has a market cap of $4.17 billion, a PE ratio of -3,175.27 and a beta of 0.61. Commvault Systems has a 12 month low of $53.70 and a 12 month high of $96.12. The company’s 50-day moving average price is $78.73 and its two-hundred day moving average price is $72.61.

Commvault Systems (NASDAQ:CVLTGet Free Report) last issued its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.05. The business had revenue of $216.81 million for the quarter, compared to analyst estimates of $208.01 million. Commvault Systems had a negative net margin of 0.09% and a positive return on equity of 32.27%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 EPS.

Insiders Place Their Bets

In other Commvault Systems news, CRO Blasio Riccardo Di sold 1,321 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $69.34, for a total value of $91,598.14. Following the completion of the transaction, the executive now directly owns 85,515 shares of the company’s stock, valued at $5,929,610.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Commvault Systems news, CEO Sanjay Mirchandani sold 10,475 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $69.61, for a total value of $729,164.75. Following the completion of the transaction, the chief executive officer now directly owns 439,902 shares of the company’s stock, valued at $30,621,578.22. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Blasio Riccardo Di sold 1,321 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $69.34, for a total transaction of $91,598.14. Following the completion of the transaction, the executive now directly owns 85,515 shares of the company’s stock, valued at $5,929,610.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,141 shares of company stock valued at $1,401,371. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Commvault Systems

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Commvault Systems by 8.6% during the second quarter. BlackRock Inc. now owns 6,019,103 shares of the software maker’s stock worth $437,107,000 after buying an additional 478,120 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Commvault Systems by 2.7% during the third quarter. Vanguard Group Inc. now owns 5,426,814 shares of the software maker’s stock worth $366,907,000 after buying an additional 144,625 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Commvault Systems by 0.3% during the third quarter. Mackenzie Financial Corp now owns 1,917,009 shares of the software maker’s stock worth $128,593,000 after buying an additional 6,130 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Commvault Systems by 4.0% during the second quarter. Renaissance Technologies LLC now owns 1,616,129 shares of the software maker’s stock worth $117,363,000 after buying an additional 61,742 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Commvault Systems by 2.8% during the second quarter. State Street Corp now owns 1,577,393 shares of the software maker’s stock worth $114,550,000 after buying an additional 42,809 shares during the last quarter. 91.56% of the stock is owned by institutional investors.

Commvault Systems Company Profile

(Get Free Report)

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.

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