CommVault Systems (NASDAQ:CVLT) Upgraded by Wall Street Zen to “Buy” Rating

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

A number of other equities research analysts have also issued reports on CVLT. Guggenheim reissued a “buy” rating on shares of CommVault Systems in a research note on Tuesday. Weiss Ratings raised shares of CommVault Systems from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 16th. Wolfe Research initiated coverage on CommVault Systems in a report on Friday, May 1st. They set a “peer perform” rating for the company. Robert W. Baird reduced their price objective on CommVault Systems from $185.00 to $160.00 and set an “outperform” rating for the company in a research report on Monday, April 13th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $130.00 target price on shares of CommVault Systems in a research note on Wednesday. One investment 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $152.47.

CommVault Systems Price Performance

Shares of CVLT opened at $117.80 on Friday. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 75.03 and a beta of 0.79. CommVault Systems has a fifty-two week low of $71.75 and a fifty-two week 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 1.95. The business’s 50-day moving average is $132.89 and its 200-day moving average is $107.00.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 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 business had revenue of $314.13 million during the quarter, compared to analysts’ expectations of $310.43 million. During the same period last year, the company posted $1.01 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. Equities research analysts expect that CommVault Systems will post 2.84 EPS for the current fiscal year.

Insider Buying and Selling

In other CommVault Systems news, CEO Sanjay Mirchandani sold 8,450 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $99.13, for a total transaction of $837,648.50. Following the transaction, the chief executive officer directly owned 306,927 shares in the company, valued at $30,425,673.51. This trade represents a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 Nicole Abrahamsen sold 254 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $150.00, for a total value of $38,100.00. Following the completion of the sale, the chief accounting officer directly owned 13,156 shares of the company’s stock, valued at $1,973,400. This represents a 1.89% 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. Over the last three months, insiders sold 55,279 shares of company stock worth $5,786,557. Corporate insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in CommVault Systems by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 5,675,590 shares of the software maker’s stock worth $711,492,000 after purchasing an additional 240,093 shares during the last quarter. First Trust Advisors LP grew its holdings in CommVault Systems by 25.5% during the fourth 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 last quarter. Pictet Asset Management Holding SA grew its holdings in CommVault Systems by 36.2% during the first 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 last quarter. Westfield Capital Management Co. LP raised its position in shares of CommVault Systems by 34.5% in the fourth 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 period. Finally, AQR Capital Management LLC raised its position in shares of CommVault Systems by 60.8% in the second 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 period. Institutional investors and hedge funds 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.