CommVault Systems (NASDAQ:CVLT) Stock Rating Lowered by Wall Street Zen

CommVault Systems (NASDAQ:CVLT) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

CVLT has been the subject of several other research reports. UBS Group restated a “neutral” rating on shares of CommVault Systems in a research note on Monday, July 27th. Oppenheimer upped their price target on CommVault Systems from $150.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. FBN Securities initiated coverage on CommVault Systems in a research report on Thursday, September 10th. They set an “outperform” rating and a $155.00 price target on the stock. Scotiabank increased their price target on shares of CommVault Systems from $130.00 to $160.00 and gave the stock a “sector perform” rating in a report on Monday, October 5th. Finally, Truist Financial raised their price objective on shares of CommVault Systems from $155.00 to $182.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $154.50.

CommVault Systems Price Performance

CommVault Systems stock opened at $157.25 on Friday. CommVault Systems has a one year low of $71.75 and a one year high of $178.36. The business has a fifty day moving average price of $140.89 and a 200-day moving average price of $123.73. The company has a debt-to-equity ratio of 16.94, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a market capitalization of $6.52 billion, a P/E ratio of 100.16 and a beta of 0.79.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $310.43 million. During the same period in the previous year, the business earned $1.01 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts forecast that CommVault Systems will post 2.84 EPS for the current year.

Insider Transactions at CommVault Systems

In related news, CEO Sanjay Mirchandani sold 12,437 shares of the 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 sale, the chief executive officer owned 269,373 shares in the company, valued at approximately $38,784,324.54. This trade represents a 4.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through 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, Director A. Shane Sanders sold 476 shares of CommVault Systems stock in a transaction on Monday, August 10th. The shares were sold at an average price of $134.19, for a total value of $63,874.44. Following the sale, the director directly owned 8,696 shares of the company’s stock, valued at $1,166,916.24. This represents a 5.19% 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. In the last quarter, insiders have sold 29,348 shares of company stock valued at $4,202,441. Corporate insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On CommVault Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in CommVault Systems by 4.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,626 shares of the software maker’s stock worth $244,000 after buying an additional 67 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of CommVault Systems in the 2nd quarter worth $537,000. Tidal Investments LLC increased its holdings in shares of CommVault Systems by 38.3% in the 2nd 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. Integrated Wealth Concepts LLC purchased a new stake in shares of CommVault Systems during the 2nd quarter valued at $371,000. Finally, NewEdge Advisors LLC purchased a new stake in shares of CommVault Systems during the 2nd quarter valued at $215,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

About CommVault Systems

Commvault Systems, Inc develops data protection, cyber resilience and information management software and services. Its platform helps organizations back up, recover, manage and secure data across on-premises data centers, public and private clouds, software-as-a-service applications and endpoint environments.

The company’s offerings include backup and recovery, disaster recovery, cyber-recovery capabilities, ransomware protection, data governance and workload management. Commvault also provides cloud-based services through its Commvault Cloud platform, designed to help customers detect threats, protect critical workloads and restore operations following data loss or cyberattacks.

Commvault serves businesses, government organizations and other institutions worldwide through direct sales, partners and service providers.