CommVault Systems (NASDAQ:CVLT) Coverage Initiated by Analysts at Stephens

Stephens assumed coverage on shares of CommVault Systems (NASDAQ:CVLT) in a report released on Tuesday, MarketBeat reports. The brokerage issued an overweight rating and a $162.00 price objective on the software maker’s stock.

Other research analysts also recently issued reports about the stock. Piper Sandler upgraded shares of CommVault Systems from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $195.00 to $200.00 in a report on Monday, October 13th. KeyCorp lowered their target price on CommVault Systems from $225.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Guggenheim reiterated a “buy” rating and issued a $220.00 target price on shares of CommVault Systems in a research report on Thursday, October 16th. Wall Street Zen cut CommVault Systems from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Royal Bank Of Canada lowered their price objective on CommVault Systems from $217.00 to $167.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $191.92.

CommVault Systems Stock Down 0.6%

CVLT stock opened at $126.79 on Tuesday. The stock has a market capitalization of $5.59 billion, a P/E ratio of 71.23 and a beta of 0.60. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 4.18. CommVault Systems has a 12 month low of $114.46 and a 12 month high of $200.68. The firm has a 50-day moving average price of $129.85 and a 200-day moving average price of $161.80.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, October 28th. The software maker reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.04). The company had revenue of $276.19 million for the quarter, compared to the consensus estimate of $273.31 million. CommVault Systems had a net margin of 7.32% and a return on equity of 31.53%. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period last year, the firm posted $0.83 earnings per share. As a group, equities research analysts anticipate that CommVault Systems will post 1.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jennifer Leigh Dirico sold 830 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $123.58, for a total value of $102,571.40. Following the sale, the chief financial officer directly owned 44,313 shares in the company, valued at $5,476,200.54. This represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Gary Merrill sold 2,674 shares of the stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $123.58, for a total transaction of $330,452.92. Following the sale, the insider directly owned 69,163 shares of the company’s stock, valued at $8,547,163.54. This represents a 3.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 33,111 shares of company stock valued at $4,058,851 over the last ninety days. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On CommVault Systems

A number of hedge funds have recently bought and sold shares of the company. State of Wyoming bought a new stake in CommVault Systems during the second quarter valued at $35,000. Banque Cantonale Vaudoise acquired a new position in shares of CommVault Systems in the 3rd quarter valued at about $39,000. Cullen Frost Bankers Inc. boosted its position in shares of CommVault Systems by 43.8% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 243 shares of the software maker’s stock valued at $46,000 after purchasing an additional 74 shares in the last quarter. Assetmark Inc. boosted its position in shares of CommVault Systems by 2,950.0% during the 3rd quarter. Assetmark Inc. now owns 244 shares of the software maker’s stock valued at $46,000 after purchasing an additional 236 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in CommVault Systems during the third quarter worth approximately $47,000. 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.