Jefferies Financial Group Forecasts Strong Price Appreciation for CommVault Systems (NASDAQ:CVLT) Stock

CommVault Systems (NASDAQ:CVLT) had its target price lifted by research analysts at Jefferies Financial Group from $130.00 to $170.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “hold” rating on the software maker’s stock. Jefferies Financial Group‘s target price suggests a potential upside of 0.37% from the company’s previous close.

A number of other research analysts also recently issued reports on CVLT. FBN Securities assumed coverage on CommVault Systems in a research note on Thursday, September 10th. They set an “outperform” rating and a $155.00 price objective for the company. Wall Street Zen upgraded shares of CommVault Systems from a “hold” rating to a “buy” rating in a research note on Sunday, October 18th. Truist Financial raised their target price on shares of CommVault Systems from $155.00 to $182.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Oppenheimer lifted their price target on shares of CommVault Systems from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Finally, Scotiabank upped their price target on shares of CommVault Systems from $130.00 to $160.00 and gave the stock a “sector perform” rating in a research report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $163.19.

CommVault Systems Price Performance

NASDAQ CVLT opened at $169.37 on Monday. The business’s fifty day moving average is $145.06 and its 200 day moving average is $129.37. CommVault Systems has a fifty-two week low of $71.75 and a fifty-two week high of $175.02. The company has a debt-to-equity ratio of 16.94, a quick ratio of 2.04 and a current ratio of 2.04. The company has a market capitalization of $7.02 billion, a PE ratio of 107.88 and a beta of 0.79.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.26. CommVault Systems had a return on equity of 88.75% and a net margin of 5.62%. The business had revenue of $314.13 million during the quarter, compared to analysts’ expectations of $310.43 million. During the same quarter in the prior year, the business posted $1.01 earnings per share. The business’s quarterly revenue was up 11.4% on a year-over-year basis. Sell-side analysts predict that CommVault Systems will post 2.87 earnings per share for the current year.

Insider Activity

In other news, Director Vivie Lee sold 595 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $134.19, for a total value of $79,843.05. Following the transaction, the director owned 15,140 shares of the company’s stock, valued at approximately $2,031,636.60. The trade was a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Danielle Abrahamsen sold 486 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total transaction of $69,400.80. Following the transaction, the chief accounting officer owned 12,160 shares of the company’s stock, valued at approximately $1,736,448. This represents a 3.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 29,348 shares of company stock valued at $4,202,441. Company insiders own 0.86% of the company’s stock.

Institutional Trading of CommVault Systems

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of CommVault Systems in the second quarter worth about $855,420,000. Pictet Asset Management Holding SA grew its holdings in CommVault Systems by 36.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,239,225 shares of the software maker’s stock valued at $96,447,000 after buying an additional 329,243 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in CommVault Systems during the 2nd quarter valued at approximately $65,765,000. American Capital Management Inc. bought a new stake in CommVault Systems in the 2nd quarter worth approximately $62,493,000. Finally, Wellington Management Group LLP increased its stake in CommVault Systems by 57.1% in the 2nd quarter. Wellington Management Group LLP now owns 402,054 shares of the software maker’s stock worth $56,983,000 after acquiring an additional 146,055 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

CommVault Systems Company Profile

Commvault Systems, Inc develops data protection and cyber resilience software and services for businesses, government organizations and other institutions. Its platform is designed to help customers back up, recover, manage and secure data across on-premises infrastructure, private and public clouds, software-as-a-service applications and other distributed IT environments.

The company’s offerings include backup and recovery, disaster recovery, data security, ransomware protection, cyber-recovery capabilities and data management tools.