Robert W. Baird Cuts CommVault Systems (NASDAQ:CVLT) Price Target to $160.00

CommVault Systems (NASDAQ:CVLT) had its price target decreased by Robert W. Baird from $185.00 to $160.00 in a report issued on Monday,Benzinga reports. Robert W. Baird currently has an outperform rating on the software maker’s stock.

CVLT has been the topic of several other reports. Wall Street Zen cut shares of CommVault Systems from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Zacks Research raised shares of CommVault Systems from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. Guggenheim decreased their target price on shares of CommVault Systems from $200.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, January 28th. DA Davidson decreased their target price on shares of CommVault Systems from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of CommVault Systems in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $137.15.

CommVault Systems Price Performance

CVLT opened at $93.21 on Monday. The company’s 50 day simple moving average is $83.97 and its 200 day simple moving average is $116.62. The company has a debt-to-equity ratio of 4.06, a quick ratio of 2.34 and a current ratio of 2.34. CommVault Systems has a 1 year low of $71.75 and a 1 year high of $200.68. The stock has a market capitalization of $4.10 billion, a PE ratio of 48.05 and a beta of 0.63.

CommVault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, January 27th. The software maker reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.19. CommVault Systems had a net margin of 7.58% and a return on equity of 37.38%. The business had revenue of $313.83 million for the quarter, compared to analysts’ expectations of $299.07 million. During the same period last year, the company earned $0.94 earnings per share. The company’s quarterly revenue was up 19.5% on a year-over-year basis. As a group, sell-side analysts expect that CommVault Systems will post 1.65 EPS for the current year.

Insider Buying and Selling

In other news, CEO Sanjay Mirchandani sold 10,052 shares of CommVault Systems stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $80.09, for a total transaction of $805,064.68. Following the sale, the chief executive officer owned 332,529 shares in the company, valued at $26,632,247.61. This trade represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gary Merrill sold 1,892 shares of CommVault Systems stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $91.28, for a total transaction of $172,701.76. Following the sale, the insider owned 62,833 shares in the company, valued at $5,735,396.24. This represents a 2.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 31,355 shares of company stock worth $2,613,165 in the last quarter. Insiders own 1.00% of the company’s stock.

Institutional Trading of CommVault Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in CVLT. State of Wyoming bought a new stake in shares of CommVault Systems in the second quarter worth $35,000. FNY Investment Advisers LLC bought a new stake in shares of CommVault Systems in the fourth quarter worth $36,000. Banque Cantonale Vaudoise bought a new stake in shares of CommVault Systems in the third quarter worth $39,000. Assetmark Inc. increased its stake in shares of CommVault Systems by 33.6% in the fourth quarter. Assetmark Inc. now owns 326 shares of the software maker’s stock worth $41,000 after buying an additional 82 shares during the last quarter. Finally, Cullen Frost Bankers Inc. increased its stake in shares of CommVault Systems by 43.8% in the third quarter. Cullen Frost Bankers Inc. now owns 243 shares of the software maker’s stock worth $46,000 after buying an additional 74 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

CommVault Systems Company Profile

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.