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

Key Points

• Jefferies raised CommVault Systems’ price target to $170 from $130 while maintaining a “hold” rating, implying only 0.37% upside from the prior close. The analyst consensus is “Moderate Buy,” with an average target of $163.19.
• CommVault reported quarterly earnings of $1.42 per share, beating estimates of $1.16, while revenue rose 11.4% year over year to $314.13 million. Shares opened at $169.37 and are near their 52-week high of $175.02.
• Institutional investors own 93.5% of the stock, while insiders sold 29,348 shares worth approximately $4.2 million over the past three months, largely through pre-arranged trading plans.

CommVault Systems (NASDAQ:CVLT - Get Free Report) had its price target upped by analysts at Jefferies Financial Group from $130.00 to $170.00 in a report released on Monday, Benzinga reports. The firm presently 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 stock's previous close.

Other analysts have also recently issued research reports about the stock. Cantor Fitzgerald boosted their target price on shares of CommVault Systems from $132.00 to $171.00 and gave the company a "neutral" rating in a report on Monday. Truist Financial lifted their price target on shares of CommVault Systems from $155.00 to $182.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. Mizuho lifted their price target on shares of CommVault Systems from $175.00 to $185.00 and gave the company an "outperform" rating in a research report on Thursday, October 15th. Oppenheimer boosted their price objective on shares of CommVault Systems from $150.00 to $175.00 and gave the stock an "outperform" rating in a research note on Friday, July 17th. Finally, Scotiabank upped their price objective on shares of CommVault Systems from $130.00 to $160.00 and gave the stock a "sector perform" rating in a report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $163.19.

CommVault Systems Price Performance

Shares of NASDAQ:CVLT opened at $169.37 on Monday. The firm has a market capitalization of $7.02 billion, a P/E ratio of 107.88 and a beta of 0.79. 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 stock has a 50 day moving average price of $145.06 and a 200-day moving average price of $129.37. CommVault Systems has a 52-week low of $71.75 and a 52-week high of $175.02.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.26. The company had revenue of $314.13 million for the quarter, compared to analyst estimates of $310.43 million. CommVault Systems had a return on equity of 88.75% and a net margin of 5.62%. The firm's revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 earnings per share. As a group, equities research analysts anticipate that CommVault Systems will post 2.87 EPS for the current fiscal year.

Insider Activity

In other CommVault Systems news, CEO Sanjay Mirchandani sold 12,437 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $143.98, for a total transaction of $1,790,679.26. Following the sale, the chief executive officer directly owned 269,373 shares in the company, valued at approximately $38,784,324.54. This trade represents a 4.41% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 A. Shane Sanders sold 476 shares of the business's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $134.19, for a total value of $63,874.44. Following the completion of the transaction, the director owned 8,696 shares of the company's stock, valued at $1,166,916.24. This represents a 5.19% 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. Over the last three months, insiders sold 29,348 shares of company stock valued at $4,202,441. 0.86% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Transamerica Financial Advisors LLC bought a new position in shares of CommVault Systems during the 2nd quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of CommVault Systems in the second quarter worth approximately $27,000. Silvant Capital Management LLC purchased a new position in shares of CommVault Systems in the second quarter worth approximately $30,000. Root Financial Partners LLC bought a new stake in CommVault Systems during the third quarter valued at approximately $49,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in CommVault Systems during the second quarter valued at approximately $53,000. Institutional investors own 93.50% of the company's stock.

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.

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