CommVault Systems (NASDAQ:CVLT) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of CommVault Systems (NASDAQ:CVLT) from a hold rating to a buy rating in a research report report published on Sunday.

Other equities analysts have also recently issued reports about the stock. Royal Bank Of Canada upped their target price on shares of CommVault Systems from $100.00 to $110.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 29th. Scotiabank restated a “sector perform” rating and issued a $130.00 price target on shares of CommVault Systems in a research report on Wednesday, July 29th. Piper Sandler downgraded shares of CommVault Systems from an “overweight” rating to a “neutral” rating and set a $133.00 price objective on the stock. in a report on Tuesday, July 28th. UBS Group reaffirmed a “neutral” rating on shares of CommVault Systems in a research report on Monday, July 27th. Finally, DA Davidson set a $175.00 price objective on shares of CommVault Systems in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.47.

CommVault Systems Stock Performance

CVLT opened at $133.81 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 16.94. The stock’s 50 day moving average price is $138.61 and its two-hundred day moving average price is $109.64. The firm has a market capitalization of $5.55 billion, a P/E ratio of 85.23 and a beta of 0.81. CommVault Systems has a 12-month low of $71.75 and a 12-month high of $198.18.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 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 company had revenue of $314.13 million during 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. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities analysts forecast that CommVault Systems will post 2.84 earnings per share for the current year.

Insider Transactions at CommVault Systems

In other CommVault Systems news, Director A Shane Sanders sold 476 shares of CommVault Systems stock in a transaction on Monday, August 10th. The shares were sold at an average price of $134.19, for a total transaction of $63,874.44. Following the sale, the director owned 8,696 shares in the company, valued at $1,166,916.24. The trade was a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a filing 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, CEO Sanjay Mirchandani sold 12,437 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $143.98, for a total transaction of $1,790,679.26. Following the completion of the sale, the chief executive officer directly owned 269,373 shares in the company, valued at $38,784,324.54. This trade represents a 4.41% 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 sold 34,433 shares of company stock valued at $4,756,008 over the last 90 days. Corporate insiders own 0.86% of the company’s stock.

Institutional Trading of CommVault Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc raised its holdings in shares of CommVault Systems by 15.8% in the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the software maker’s stock valued at $84,000 after purchasing an additional 81 shares during the period. Assetmark Inc. grew its holdings in CommVault Systems by 33.6% during the fourth quarter. Assetmark Inc. now owns 326 shares of the software maker’s stock worth $41,000 after purchasing an additional 82 shares during the period. Captrust Financial Advisors grew its holdings in CommVault Systems by 7.2% during the fourth quarter. Captrust Financial Advisors now owns 2,153 shares of the software maker’s stock worth $270,000 after purchasing an additional 145 shares during the period. MML Investors Services LLC increased its position in CommVault Systems by 6.7% during the fourth quarter. MML Investors Services LLC now owns 2,361 shares of the software maker’s stock worth $296,000 after buying an additional 149 shares during the last quarter. Finally, Madison Asset Management LLC increased its position in CommVault Systems by 0.6% during the fourth quarter. Madison Asset Management LLC now owns 23,947 shares of the software maker’s stock worth $3,002,000 after buying an additional 153 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

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.