CommVault Systems, Inc. (NASDAQ:CVLT) Stock Rated “Moderate Buy” by Wall Street Analysts

CommVault Systems, Inc. (NASDAQ:CVLT) has earned an average recommendation of “Moderate Buy” from the twenty-one research firms that are currently covering the firm, Marketbeat.com reports. Ten research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $157.62.

CVLT has been the topic of several recent research reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $130.00 target price on shares of CommVault Systems in a research note on Wednesday, July 29th. Royal Bank Of Canada raised their price target on shares of CommVault Systems from $150.00 to $160.00 and gave the company a “sector perform” rating in a research report on Monday. UBS Group restated a “neutral” rating on shares of CommVault Systems in a research note on Monday, July 27th. FBN Securities began coverage on CommVault Systems in a research report on Thursday, September 10th. They set an “outperform” rating and a $155.00 price objective on the stock. Finally, DA Davidson set a $175.00 price objective on CommVault Systems in a research report on Wednesday, July 29th.

CommVault Systems Price Performance

CVLT stock opened at $154.33 on Thursday. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of 63.54 and a beta of 0.79. CommVault Systems has a 52-week low of $71.75 and a 52-week high of $177.81. The business has a fifty day moving average of $142.46 and a two-hundred day moving average of $125.35. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 16.94.

CommVault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, July 28th. The software maker reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.26. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The company had revenue of $314.13 million for the quarter, compared to analysts’ expectations of $310.43 million. During the same quarter in the prior year, the company posted $1.01 earnings per share. CommVault Systems’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, research analysts anticipate that CommVault Systems will post 2.84 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director A. Shane Sanders sold 476 shares of the company’s stock in a transaction that occurred 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 directly owned 8,696 shares in the company, valued at approximately $1,166,916.24. This represents a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Danielle Abrahamsen sold 486 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total transaction of $69,400.80. Following the sale, the chief accounting officer owned 12,160 shares in the company, valued at $1,736,448. The trade was a 3.84% decrease in their ownership of the stock. 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. In the last ninety days, insiders have sold 29,348 shares of company stock worth $4,202,441. Corporate insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of CommVault Systems in the second quarter valued at about $855,420,000. The Manufacturers Life Insurance Company purchased a new position in shares of CommVault Systems during the second quarter worth about $65,765,000. American Capital Management Inc. purchased a new position in shares of CommVault Systems during the second quarter worth about $62,493,000. Bank of America Corp DE purchased a new position in shares of CommVault Systems during the second quarter worth about $51,709,000. Finally, Pictet Asset Management Holding SA increased its position in CommVault Systems by 36.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,239,225 shares of the software maker’s stock valued at $96,447,000 after acquiring an additional 329,243 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

CommVault Systems Company Profile

Commvault Systems, Inc develops data protection, cyber resilience and information management software and services. Its platform helps organizations back up, recover, manage and secure data across on-premises data centers, public and private clouds, software-as-a-service applications and endpoint environments.

The company’s offerings include backup and recovery, disaster recovery, cyber-recovery capabilities, ransomware protection, data governance and workload management. Commvault also provides cloud-based services through its Commvault Cloud platform, designed to help customers detect threats, protect critical workloads and restore operations following data loss or cyberattacks.

Commvault serves businesses, government organizations and other institutions worldwide through direct sales, partners and service providers.