CommVault Systems (NASDAQ:CVLT) Rating Increased to Buy at Wall Street Zen

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

A number of other analysts have also issued reports on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $132.00 price target on shares of CommVault Systems in a research note on Monday, July 27th. KeyCorp raised their price objective on CommVault Systems from $125.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. 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. Piper Sandler cut shares of 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. Finally, Guggenheim reaffirmed a “buy” rating on shares of CommVault Systems in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, CommVault Systems has an average rating of “Moderate Buy” and a consensus price target of $152.62.

CommVault Systems Price Performance

CVLT opened at $130.07 on Friday. CommVault Systems has a twelve month low of $71.75 and a twelve month high of $198.18. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 16.94. The company has a 50-day moving average price of $138.21 and a 200 day moving average price of $114.60. The company has a market cap of $5.39 billion, a PE ratio of 82.85 and a beta of 0.82.

CommVault Systems (NASDAQ:CVLT) last posted 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 return on equity of 88.75% and a net margin of 5.62%.The company had revenue of $314.13 million for the quarter, compared to analysts’ expectations of $310.43 million. During the same period in the previous year, the firm posted $1.01 EPS. CommVault Systems’s revenue was up 11.4% compared to the same quarter last year. Sell-side analysts expect that CommVault Systems will post 2.84 earnings per share for the current fiscal year.

Insider Activity

In other CommVault Systems news, Director A. Shane Sanders sold 476 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $134.19, for a total value 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 represents a 5.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mirchandani sold 12,437 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $143.98, for a total value of $1,790,679.26. Following the completion of the sale, the chief executive officer directly owned 269,373 shares of the company’s stock, valued at $38,784,324.54. This trade represents a 4.41% decrease in their ownership of the stock. 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 have sold a total of 29,602 shares of company stock valued at $4,240,541 in the last 90 days. 0.86% of the stock is owned by insiders.

Institutional Investors Weigh In On CommVault Systems

Hedge funds and other institutional investors have recently bought and sold shares of the company. Transamerica Financial Advisors LLC acquired a new position in CommVault Systems in the 2nd quarter valued at about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of CommVault Systems during the 2nd quarter worth approximately $27,000. Silvant Capital Management LLC purchased a new stake in shares of CommVault Systems during the 2nd quarter valued at approximately $30,000. State of Wyoming purchased a new stake in shares of CommVault Systems during the 2nd quarter valued at approximately $35,000. Finally, Essential Partners LLC lifted its holdings in CommVault Systems by 9,920.0% in the first quarter. Essential Partners LLC now owns 501 shares of the software maker’s stock valued at $39,000 after acquiring an additional 496 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

About CommVault Systems

Commvault Systems, Inc develops data protection and cyber resilience software for organizations seeking to secure, manage and recover data across on-premises, cloud and hybrid environments. Its technology is designed to help businesses protect workloads, reduce the risk of data loss and maintain operations following system failures, cyberattacks or other disruptions.

The company’s offerings include backup and recovery, disaster recovery, data security, cyber recovery and cloud data management solutions.