CommVault Systems (NASDAQ:CVLT) Reaches New 12-Month Low – Here’s Why

CommVault Systems, Inc. (NASDAQ:CVLT) reached a new 52-week low during trading on Friday . The stock traded as low as $78.39 and last traded at $78.4370, with a volume of 234147 shares trading hands. The stock had previously closed at $80.85.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Piper Sandler lowered their target price on shares of CommVault Systems from $186.00 to $155.00 and set an “overweight” rating on the stock in a research note on Monday, January 5th. Wall Street Zen raised shares of CommVault Systems from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Zacks Research upgraded shares of CommVault Systems from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. DA Davidson dropped their price objective on shares of CommVault Systems from $185.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, January 28th. Finally, Cantor Fitzgerald cut their price objective on shares of CommVault Systems from $144.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.58.

CommVault Systems Stock Down 3.0%

The company has a debt-to-equity ratio of 4.06, a current ratio of 2.34 and a quick ratio of 2.34. The business’s 50 day simple moving average is $99.37 and its 200 day simple moving average is $134.38. The company has a market capitalization of $3.45 billion, a PE ratio of 40.35 and a beta of 0.59.

CommVault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, January 27th. The software maker reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.19. CommVault Systems had a net margin of 7.58% and a return on equity of 37.38%. The company had revenue of $313.83 million for the quarter, compared to analysts’ expectations of $299.07 million. During the same quarter in the prior year, the company posted $0.94 earnings per share. CommVault Systems’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, analysts anticipate that CommVault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

Insider Activity at CommVault Systems

In related news, insider Gary Merrill sold 2,593 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $90.28, for a total transaction of $234,096.04. Following the completion of the transaction, the insider owned 64,725 shares in the company, valued at approximately $5,843,373. The trade was a 3.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sanjay Mirchandani sold 6,480 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $90.28, for a total value of $585,014.40. Following the completion of the transaction, the chief executive officer directly owned 352,919 shares in the company, valued at $31,861,527.32. This trade represents a 1.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 10,965 shares of company stock valued at $991,812 in the last quarter. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CVLT. Tudor Investment Corp ET AL acquired a new position in CommVault Systems in the third quarter valued at approximately $1,887,800,000. First Trust Advisors LP raised its holdings in CommVault Systems by 1,335.8% during the third quarter. First Trust Advisors LP now owns 1,224,856 shares of the software maker’s stock worth $231,228,000 after purchasing an additional 1,139,547 shares in the last quarter. M&T Bank Corp lifted its position in shares of CommVault Systems by 22,133.9% during the 4th quarter. M&T Bank Corp now owns 610,098 shares of the software maker’s stock worth $76,482,000 after buying an additional 607,354 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in shares of CommVault Systems by 135.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 786,175 shares of the software maker’s stock worth $148,414,000 after buying an additional 452,422 shares during the last quarter. Finally, TD Asset Management Inc boosted its holdings in shares of CommVault Systems by 14,047.5% in the 4th quarter. TD Asset Management Inc now owns 381,982 shares of the software maker’s stock valued at $47,885,000 after buying an additional 379,282 shares in the last quarter. Hedge funds and other 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.