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

CommVault Systems, Inc. (NASDAQ:CVLT) has been given a consensus recommendation of “Moderate Buy” by the twenty-one ratings firms that are presently covering the company, MarketBeat.com reports. Ten 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 price target among analysts that have issued a report on the stock in the last year is $174.00.

Several brokerages have commented on CVLT. Jefferies Financial Group upped their target price on shares of CommVault Systems from $130.00 to $170.00 and gave the company a “hold” rating in a research note on Monday, October 26th. FBN Securities started coverage on CommVault Systems in a research report on Thursday, September 10th. They issued an “outperform” rating and a $155.00 price objective for the company. Scotiabank lifted their price target on shares of CommVault Systems from $160.00 to $180.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 28th. UBS Group reiterated a “neutral” rating on shares of CommVault Systems in a report on Monday, July 27th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CommVault Systems in a report on Friday, September 11th.

Insider Transactions at CommVault Systems

In related news, CAO Danielle Abrahamsen sold 486 shares of CommVault Systems stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total value of $69,400.80. Following the sale, the chief accounting officer owned 12,160 shares of the company’s stock, valued at approximately $1,736,448. This trade represents a 3.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 1,854 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $143.64, for a total value of $266,308.56. Following the completion of the sale, the chief financial officer owned 70,921 shares in the company, valued at $10,187,092.44. The trade was a 2.55% 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 28,277 shares of company stock valued at $4,058,723 over the last three months. Company insiders own 0.86% of the company’s stock.

Institutional Trading of CommVault Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. Madison Asset Management LLC lifted its stake in CommVault Systems by 39.7% in the 1st quarter. Madison Asset Management LLC now owns 33,459 shares of the software maker’s stock valued at $2,606,000 after purchasing an additional 9,512 shares during the last quarter. Tidal Investments LLC increased its position in CommVault Systems by 38.3% during the second quarter. Tidal Investments LLC now owns 59,661 shares of the software maker’s stock worth $8,456,000 after buying an additional 16,523 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in CommVault Systems by 5.5% in the third quarter. Pinnacle Associates Ltd. now owns 134,577 shares of the software maker’s stock valued at $20,176,000 after buying an additional 7,020 shares during the period. Louisiana State Employees Retirement System bought a new stake in CommVault Systems in the first quarter valued at approximately $997,000. Finally, Mizuho Markets Americas LLC bought a new stake in CommVault Systems in the first quarter valued at approximately $8,005,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

CommVault Systems Price Performance

CommVault Systems stock opened at $158.36 on Monday. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 70.45. The firm has a market capitalization of $6.48 billion, a P/E ratio of 82.05 and a beta of 0.90. The business has a 50-day moving average of $150.61 and a 200-day moving average of $120.09. CommVault Systems has a 1 year low of $71.75 and a 1 year high of $174.25.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, October 27th. The software maker reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.13. CommVault Systems had a net margin of 6.60% and a return on equity of 169.40%. The business had revenue of $312.39 million for the quarter, compared to the consensus estimate of $310.41 million. During the same period last year, the company posted $0.91 EPS. CommVault Systems’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, equities analysts anticipate that CommVault Systems will post 2.98 EPS for the current year.

CommVault Systems Company Profile

Commvault Systems, which operates as Commvault, develops data protection and cyber resilience software for businesses and other organizations. Its offerings help customers back up, recover, manage and secure data across on-premises systems, public clouds and hybrid environments.

The company’s Commvault Cloud platform and related services support data recovery, cyberattack readiness and data management. Its tools are designed to help organizations protect information across different workloads and storage environments.

Commvault serves customers internationally across a range of industries.