CommVault Systems (NASDAQ:CVLT) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

CommVault Systems (NASDAQ:CVLT) had its target price increased by research analysts at Cantor Fitzgerald from $132.00 to $171.00 in a report released on Monday, Benzinga reports. The firm currently has a “neutral” rating on the software maker’s stock. Cantor Fitzgerald‘s target price indicates a potential upside of 0.96% from the stock’s current price.

A number of other research firms also recently commented on CVLT. FBN Securities assumed coverage on shares of CommVault Systems in a research note on Thursday, September 10th. They set an “outperform” rating and a $155.00 price objective on the stock. UBS Group restated a “neutral” rating on shares of CommVault Systems in a research note on Monday, July 27th. Jefferies Financial Group reaffirmed a “hold” rating and set a $130.00 price target on shares of CommVault Systems in a research report on Wednesday, July 29th. Truist Financial increased their price target on shares of CommVault Systems from $155.00 to $182.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Finally, Scotiabank lifted their price target on CommVault Systems from $130.00 to $160.00 and gave the stock a “sector perform” rating in a research note on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $160.69.

CommVault Systems Price Performance

CVLT stock opened at $169.37 on Monday. The stock’s 50 day moving average is $145.06 and its two-hundred day moving average is $129.37. CommVault Systems has a 52-week low of $71.75 and a 52-week high of $175.02. The company has a market capitalization of $7.02 billion, a PE ratio of 107.88 and a beta of 0.79. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 16.94.

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

Insiders Place Their Bets

In related news, CEO Sanjay Mirchandani sold 12,437 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $143.98, for a total transaction of $1,790,679.26. Following the completion of the sale, the chief executive officer owned 269,373 shares of the company’s stock, valued at $38,784,324.54. This represents a 4.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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. Also, Director Vivie Lee sold 595 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $134.19, for a total transaction of $79,843.05. Following the sale, the director directly owned 15,140 shares of the company’s stock, valued at approximately $2,031,636.60. This represents a 3.78% 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. In the last three months, insiders sold 29,348 shares of company stock worth $4,202,441. Corporate insiders own 0.86% of the company’s stock.

Institutional Trading of CommVault Systems

A number of institutional investors and hedge funds have recently made changes to their positions in CVLT. BlackRock Inc. acquired a new position in CommVault Systems during the 2nd quarter valued at approximately $855,420,000. Pictet Asset Management Holding SA lifted its stake in CommVault Systems by 36.2% in the first 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 during the last quarter. American Capital Management Inc. boosted its holdings in shares of CommVault Systems by 1.3% during the first quarter. American Capital Management Inc. now owns 540,845 shares of the software maker’s stock valued at $42,126,000 after acquiring an additional 7,039 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of CommVault Systems during the second quarter valued at $65,765,000. Finally, Wellington Management Group LLP grew its position in shares of CommVault Systems by 57.1% during the second 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. 93.50% of the stock is currently owned by institutional investors and hedge funds.

About CommVault Systems

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.