CommVault Systems (NASDAQ:CVLT) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of CommVault Systems (NASDAQ:CVLT) from a buy rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Several other brokerages also recently issued reports on CVLT. Weiss Ratings upgraded CommVault Systems from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 16th. Oppenheimer boosted their price objective on CommVault Systems from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Guggenheim reaffirmed a “buy” rating on shares of CommVault Systems in a research report on Tuesday, July 28th. KeyCorp increased their target price on CommVault Systems from $125.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Finally, Mizuho raised their target price on CommVault Systems from $140.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $152.47.

CommVault Systems Stock Performance

Shares of CVLT stock opened at $136.40 on Friday. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of 86.88 and a beta of 0.82. 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 has a fifty-two week low of $71.75 and a fifty-two week high of $198.18. The firm’s 50 day moving average price is $139.45 and its two-hundred day moving average price is $113.42.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $310.43 million. During the same period in the previous year, the firm earned $1.01 earnings per share. CommVault Systems’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, analysts anticipate that CommVault Systems will post 2.84 EPS for the current year.

Insider Activity

In other news, Director A. Shane Sanders sold 476 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $134.19, for a total transaction of $63,874.44. Following the completion of the sale, the director directly owned 8,696 shares in the company, valued at $1,166,916.24. This trade represents a 5.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mirchandani sold 6,857 shares of CommVault Systems stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total value of $979,179.60. Following the sale, the chief executive officer directly owned 257,676 shares in the company, valued at approximately $36,796,132.80. The trade was a 2.59% decrease in their ownership of the stock. 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 a total of 29,602 shares of company stock worth $4,240,541 over the last three months. 0.86% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CommVault Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Corient Private Wealth LP boosted its stake in shares of CommVault Systems by 89.2% during the 2nd quarter. Corient Private Wealth LP now owns 70,268 shares of the software maker’s stock valued at $9,959,000 after buying an additional 33,126 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of CommVault Systems by 6.8% in the second quarter. HighTower Advisors LLC now owns 2,828 shares of the software maker’s stock worth $401,000 after buying an additional 181 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of CommVault Systems in the second quarter worth $1,599,000. California State Teachers Retirement System raised its holdings in CommVault Systems by 13,810.8% in the second quarter. California State Teachers Retirement System now owns 7,182,168 shares of the software maker’s stock valued at $1,017,929,000 after acquiring an additional 7,130,538 shares in the last quarter. Finally, HB Wealth Management LLC bought a new position in CommVault Systems during the 2nd quarter valued at $420,000. 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.