Cantor Fitzgerald Issues Positive Forecast for CommVault Systems (NASDAQ:CVLT) Stock Price

CommVault Systems (NASDAQ:CVLT) had its price objective raised by Cantor Fitzgerald from $132.00 to $171.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the software maker’s stock. Cantor Fitzgerald‘s price target would suggest a potential upside of 0.96% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the company. FBN Securities assumed coverage on CommVault Systems in a research note on Thursday, September 10th. They issued an “outperform” rating and a $155.00 price target on the stock. KeyCorp upped their price objective on shares of CommVault Systems from $125.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Jefferies Financial Group reissued a “hold” rating and issued a $130.00 target price on shares of CommVault Systems in a research report on Wednesday, July 29th. UBS Group restated a “neutral” rating on shares of CommVault Systems in a report on Monday, July 27th. Finally, Mizuho boosted their price target on shares of CommVault Systems from $175.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $160.69.

CommVault Systems Stock Performance

Shares of NASDAQ:CVLT opened at $169.37 on Monday. The company has a 50 day moving average of $145.06 and a 200-day moving average of $129.37. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 16.94. The firm has a market cap of $7.02 billion, a P/E ratio of 107.88 and a beta of 0.79. CommVault Systems has a twelve month low of $71.75 and a twelve month high of $175.02.

CommVault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share (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 firm had revenue of $314.13 million for the quarter, compared to analyst estimates of $310.43 million. During the same period in the previous year, the company earned $1.01 earnings per share. CommVault Systems’s revenue was up 11.4% compared to the same quarter last year. As a group, analysts anticipate that CommVault Systems will post 2.87 earnings per share for the current fiscal year.

Insider Activity at CommVault Systems

In other news, Director A. Shane Sanders sold 476 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $134.19, for a total value of $63,874.44. Following the transaction, the director owned 8,696 shares in the company, valued at $1,166,916.24. This represents a 5.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gary Merrill sold 1,854 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $143.64, for a total transaction of $266,308.56. Following the completion of the sale, the chief financial officer directly owned 70,921 shares of the company’s stock, valued at $10,187,092.44. This trade represents a 2.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 quarter, insiders have sold 29,348 shares of company stock worth $4,202,441. Company insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVLT. BlackRock Inc. acquired a new position in CommVault Systems in the 2nd quarter valued at approximately $855,420,000. Pictet Asset Management Holding SA lifted its position in CommVault Systems by 36.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,239,225 shares of the software maker’s stock worth $96,447,000 after buying an additional 329,243 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of CommVault Systems during the 2nd quarter valued at $65,765,000. American Capital Management Inc. acquired a new stake in shares of CommVault Systems during the 2nd quarter valued at $62,493,000. Finally, Wellington Management Group LLP grew its holdings in shares of CommVault Systems by 57.1% during the 2nd quarter. Wellington Management Group LLP now owns 402,054 shares of the software maker’s stock valued at $56,983,000 after acquiring an additional 146,055 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

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.