CommVault Systems (NASDAQ:CVLT) Upgraded at Wall Street Zen

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

A number of other research firms have also weighed in on CVLT. Zacks Research lowered CommVault Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Piper Sandler cut CommVault Systems from an “overweight” rating to a “neutral” rating and set a $133.00 target price on the stock. in a research note on Tuesday, July 28th. Truist Financial raised their price target on CommVault Systems from $155.00 to $182.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Stephens lifted their price target on CommVault Systems from $135.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 16th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $132.00 price target on shares of CommVault Systems in a research note on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $152.47.

CommVault Systems Trading Up 6.1%

NASDAQ:CVLT opened at $124.93 on Friday. CommVault Systems has a one year low of $71.75 and a one year high of $198.18. The company has a debt-to-equity ratio of 16.94, a current ratio of 2.04 and a quick ratio of 2.04. The company’s 50-day simple moving average is $133.24 and its 200 day simple moving average is $106.86. The firm has a market capitalization of $5.18 billion, a P/E ratio of 79.57 and a beta of 0.81.

CommVault Systems (NASDAQ:CVLT) last announced its 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. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The business had revenue of $314.13 million during the quarter, compared to the consensus estimate of $310.43 million. During the same quarter last year, the firm earned $1.01 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, analysts forecast that CommVault Systems will post 2.84 EPS for the current fiscal year.

Insider Transactions at CommVault Systems

In other news, CEO Sanjay Mirchandani sold 19,396 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $105.49, for a total value of $2,046,084.04. Following the completion of the transaction, the chief executive officer owned 315,377 shares in the company, valued at $33,269,119.73. The trade was a 5.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 Nicole Abrahamsen sold 1,065 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $105.84, for a total value of $112,719.60. Following the completion of the transaction, the chief accounting officer directly owned 13,581 shares of the company’s stock, valued at approximately $1,437,413.04. This trade represents a 7.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 55,279 shares of company stock worth $5,786,557 over the last quarter. 0.86% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CommVault Systems

A number of hedge funds have recently added to or reduced their stakes in CVLT. Vanguard Group Inc. increased its position in CommVault Systems by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 5,675,590 shares of the software maker’s stock valued at $711,492,000 after acquiring an additional 240,093 shares during the last quarter. First Trust Advisors LP grew its stake in shares of CommVault Systems by 25.5% during the 4th quarter. First Trust Advisors LP now owns 1,537,034 shares of the software maker’s stock valued at $192,683,000 after purchasing an additional 312,178 shares during the period. Pictet Asset Management Holding SA grew its stake in shares of CommVault Systems by 36.2% during 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 purchasing an additional 329,243 shares during the period. Westfield Capital Management Co. LP increased its position in shares of CommVault Systems by 34.5% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,057,077 shares of the software maker’s stock valued at $132,515,000 after purchasing an additional 270,902 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of CommVault Systems by 60.8% during the 2nd quarter. AQR Capital Management LLC now owns 893,385 shares of the software maker’s stock valued at $155,744,000 after purchasing an additional 337,830 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

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.