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

CommVault Systems (NASDAQ:CVLT) had its price target upped by Truist Financial from $155.00 to $182.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Truist Financial’s target price would suggest a potential upside of 29.78% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird cut their price objective on shares of CommVault Systems from $185.00 to $160.00 and set an “outperform” rating for the company in a research report on Monday, April 13th. Jefferies Financial Group started coverage on CommVault Systems in a research note on Monday, April 27th. They set a “hold” rating and a $105.00 target price on the stock. Weiss Ratings upgraded CommVault Systems from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 16th. Stephens upped their price objective on CommVault Systems from $135.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, June 16th. Finally, Scotiabank lifted their target price on CommVault Systems from $105.00 to $110.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, CommVault Systems currently has an average rating of “Moderate Buy” and an average price target of $145.47.

CommVault Systems Price Performance

Shares of CVLT opened at $140.24 on Tuesday. The firm has a market capitalization of $5.81 billion, a PE ratio of 88.20 and a beta of 0.79. The company’s 50-day moving average is $129.37 and its 200-day moving average is $106.66. CommVault Systems has a fifty-two week low of $71.75 and a fifty-two week high of $200.68. The company has a debt-to-equity ratio of 117.54, a current ratio of 1.95 and a quick ratio of 1.95.

CommVault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, April 28th. The software maker reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.19. CommVault Systems had a net margin of 5.97% and a return on equity of 51.64%. The company had revenue of $311.69 million during the quarter, compared to analysts’ expectations of $306.71 million. During the same quarter last year, the company posted $1.03 EPS. CommVault Systems’s quarterly revenue was up 13.3% compared to the same quarter last year. Equities analysts forecast that CommVault Systems will post 2.88 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Sanjay Mirchandani sold 19,396 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $105.49, for a total transaction of $2,046,084.04. Following the sale, the chief executive officer directly owned 315,377 shares of the company’s stock, valued at approximately $33,269,119.73. This represents a 5.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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, CAO Danielle Nicole Abrahamsen sold 1,065 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $105.84, for a total value of $112,719.60. Following the completion of the transaction, the chief accounting officer owned 13,581 shares in the company, valued at $1,437,413.04. The trade was a 7.27% decrease in their position. 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. Insiders have sold a total of 55,279 shares of company stock worth $5,786,557 in the last 90 days. Company insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On CommVault Systems

A number of large investors have recently bought and sold shares of the company. State of Wyoming acquired a new position in shares of CommVault Systems in the 2nd quarter valued at approximately $35,000. FNY Investment Advisers LLC bought a new stake in shares of CommVault Systems during the 4th quarter worth approximately $36,000. Essential Partners LLC boosted its position in shares of CommVault Systems by 9,920.0% during the 1st quarter. Essential Partners LLC now owns 501 shares of the software maker’s stock worth $39,000 after acquiring an additional 496 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of CommVault Systems during the 3rd quarter worth approximately $39,000. Finally, Assetmark Inc. increased its stake in CommVault Systems by 33.6% in the fourth quarter. Assetmark Inc. now owns 326 shares of the software maker’s stock valued at $41,000 after acquiring an additional 82 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 is a global provider of data protection and information management software designed to help organizations manage, protect, and activate data across on-premises and cloud environments. Founded in 1996 and headquartered in Tinton Falls, New Jersey, Commvault offers a suite of integrated products and services that enable enterprises to back up, recover, archive, and analyze data. Its flagship solutions include Commvault Complete Data Protection, Commvault HyperScale, and the SaaS-based Metallic portfolio, which deliver scalable and automated data management capabilities across hybrid infrastructure environments.

Commvault’s platform is built on a unified architecture that allows customers to streamline operations, reduce complexity, and ensure data resiliency.