CommVault Systems (NASDAQ:CVLT) Cut to Neutral at Piper Sandler

Piper Sandler downgraded shares of CommVault Systems (NASDAQ:CVLT) from an overweight rating to a neutral rating in a research report released on Tuesday morning, MarketBeat reports. Piper Sandler currently has $133.00 price objective on the software maker’s stock.

A number of other analysts have also commented on the stock. Mizuho upped their price objective on shares of CommVault Systems from $140.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Oppenheimer lifted their target price on shares of CommVault Systems from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Stephens upped their price target on shares of CommVault Systems from $135.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, June 16th. DA Davidson reaffirmed a “buy” rating and issued a $125.00 price objective on shares of CommVault Systems in a research note on Monday, April 13th. Finally, Jefferies Financial Group started coverage on shares of CommVault Systems in a research report on Monday, April 27th. They set a “hold” rating and a $105.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $152.47.

CommVault Systems Stock Down 3.2%

Shares of CommVault Systems stock opened at $116.42 on Tuesday. CommVault Systems has a 12-month low of $71.75 and a 12-month high of $198.18. The firm has a market capitalization of $4.82 billion, a PE ratio of 74.15 and a beta of 0.79. The company has a quick ratio of 1.95, a current ratio of 2.04 and a debt-to-equity ratio of 16.94. The stock’s fifty day moving average is $132.68 and its 200-day moving average is $106.93.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.26. The business had revenue of $314.13 million during 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%.CommVault Systems’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the company posted $1.01 EPS. Equities analysts anticipate that CommVault Systems will post 2.9 earnings per share for the current year.

Insider Buying and Selling at CommVault Systems

In related news, CEO Sanjay Mirchandani sold 19,396 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $105.49, for a total transaction of $2,046,084.04. Following the transaction, the chief executive officer directly owned 315,377 shares of the company’s stock, valued at approximately $33,269,119.73. The trade was a 5.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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, CFO Gary Merrill sold 4,560 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $105.10, for a total transaction of $479,256.00. Following the completion of the sale, the chief financial officer owned 72,507 shares of the company’s stock, valued at approximately $7,620,485.70. The trade was a 5.92% 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. 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 valued at $5,786,557 in the last 90 days. 0.86% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CommVault Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. State of Wyoming purchased a new stake in shares of CommVault Systems during the second quarter worth $35,000. Banque Cantonale Vaudoise purchased a new position in CommVault Systems in the third quarter valued at about $39,000. Advisory Services Network LLC purchased a new position in CommVault Systems in the third quarter valued at about $47,000. EverSource Wealth Advisors LLC increased its position in CommVault Systems by 188.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock worth $47,000 after purchasing an additional 177 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in CommVault Systems in the 4th quarter worth about $36,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

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.