FBN Securities Begins Coverage on CommVault Systems (NASDAQ:CVLT)

Equities researchers at FBN Securities assumed coverage on shares of CommVault Systems (NASDAQ:CVLT) in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $155.00 price target on the software maker’s stock. FBN Securities’ price objective indicates a potential upside of 16.57% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. Jefferies Financial Group restated a “hold” rating and set a $130.00 price objective on shares of CommVault Systems in a report on Wednesday, July 29th. Guggenheim reiterated a “buy” rating on shares of CommVault Systems in a report on Tuesday, July 28th. Stephens boosted their target price on shares of CommVault Systems from $135.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 16th. Wall Street Zen lowered shares of CommVault Systems from a “buy” rating to a “hold” rating in a report on Saturday, September 5th. Finally, Oppenheimer raised their price target on shares of CommVault Systems from $150.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, CommVault Systems currently has an average rating of “Moderate Buy” and an average target price of $152.62.

CommVault Systems Stock Down 0.3%

Shares of NASDAQ CVLT traded down $0.40 during midday trading on Thursday, hitting $132.96. 13,369 shares of the stock traded hands, compared to its average volume of 898,194. The company has a market cap of $5.51 billion, a PE ratio of 84.92 and a beta of 0.82. CommVault Systems has a one year low of $71.75 and a one year high of $198.18. The business has a 50 day moving average price of $138.97 and a two-hundred day moving average price of $113.99. The company has a debt-to-equity ratio of 16.94, a quick ratio of 2.04 and a current ratio of 2.04.

CommVault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share (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 for the quarter, compared to analysts’ expectations of $310.43 million. During the same period last year, the business earned $1.01 EPS. CommVault Systems’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities analysts predict that CommVault Systems will post 2.84 EPS for the current year.

Insiders Place Their Bets

In other CommVault Systems news, CEO Sanjay Mirchandani sold 12,437 shares of CommVault Systems stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $143.98, for a total value of $1,790,679.26. Following the transaction, the chief executive officer directly owned 269,373 shares of the company’s stock, valued at $38,784,324.54. The trade was a 4.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, CAO Danielle Abrahamsen sold 486 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $142.80, for a total value of $69,400.80. Following the completion of the sale, the chief accounting officer owned 12,160 shares of the company’s stock, valued at $1,736,448. The trade was a 3.84% 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 29,602 shares of company stock worth $4,240,541 over the last quarter. Insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc increased its stake in shares of CommVault Systems by 15.8% in the second quarter. Versant Capital Management Inc now owns 595 shares of the software maker’s stock worth $84,000 after buying an additional 81 shares during the period. Captrust Financial Advisors boosted its position in CommVault Systems by 7.2% during the 4th quarter. Captrust Financial Advisors now owns 2,153 shares of the software maker’s stock valued at $270,000 after buying an additional 145 shares during the period. MML Investors Services LLC increased its position in shares of CommVault Systems by 6.7% in the fourth quarter. MML Investors Services LLC now owns 2,361 shares of the software maker’s stock valued at $296,000 after acquiring an additional 149 shares during the period. Madison Asset Management LLC raised its stake in shares of CommVault Systems by 0.6% during the fourth quarter. Madison Asset Management LLC now owns 23,947 shares of the software maker’s stock valued at $3,002,000 after acquiring an additional 153 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of CommVault Systems by 188.3% during the second quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $47,000 after acquiring an additional 177 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.