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

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

A number of other research analysts also recently weighed in on the stock. Zacks Research raised shares of CommVault Systems from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. KeyCorp dropped their price target on shares of CommVault Systems from $152.00 to $108.00 and set an “overweight” rating on the stock in a research report on Wednesday. Piper Sandler cut their price target on shares of CommVault Systems from $186.00 to $155.00 and set an “overweight” rating for the company in a research note on Monday, January 5th. Truist Financial restated a “buy” rating and set a $155.00 price objective (down from $175.00) on shares of CommVault Systems in a research note on Wednesday. Finally, Robert W. Baird assumed coverage on shares of CommVault Systems in a report on Monday, October 27th. They issued an “outperform” rating and a $215.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, CommVault Systems has a consensus rating of “Moderate Buy” and an average price target of $143.58.

CommVault Systems Price Performance

CVLT stock opened at $85.70 on Friday. The stock has a 50-day moving average price of $121.18 and a two-hundred day moving average price of $152.96. CommVault Systems has a 1 year low of $84.44 and a 1 year high of $200.68. The stock has a market cap of $3.77 billion, a PE ratio of 44.18 and a beta of 0.57. The company has a current ratio of 2.34, a quick ratio of 2.53 and a debt-to-equity ratio of 4.06.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, January 27th. The software maker reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.19. The business had revenue of $313.83 million during the quarter, compared to the consensus estimate of $299.07 million. CommVault Systems had a return on equity of 37.38% and a net margin of 7.58%.CommVault Systems’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the company earned $0.94 earnings per share. Equities analysts forecast that CommVault Systems will post 1.65 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Sanjay Mirchandani sold 13,109 shares of CommVault Systems stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $121.15, for a total transaction of $1,588,155.35. Following the completion of the sale, the chief executive officer owned 359,260 shares of the company’s stock, valued at approximately $43,524,349. This trade represents a 3.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jennifer Leigh Dirico sold 830 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $123.58, for a total transaction of $102,571.40. Following the completion of the sale, the chief financial officer directly owned 44,313 shares of the company’s stock, valued at approximately $5,476,200.54. The trade was a 1.84% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 33,111 shares of company stock valued at $4,058,851. Insiders own 1.00% of the company’s stock.

Institutional Trading of CommVault Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Tudor Investment Corp ET AL bought a new position in shares of CommVault Systems during the third quarter worth approximately $1,887,800,000. First Trust Advisors LP boosted its stake in shares of CommVault Systems by 1,335.8% in the third quarter. First Trust Advisors LP now owns 1,224,856 shares of the software maker’s stock valued at $231,228,000 after buying an additional 1,139,547 shares during the period. M&T Bank Corp grew its position in CommVault Systems by 22,133.9% during the fourth quarter. M&T Bank Corp now owns 610,098 shares of the software maker’s stock worth $76,482,000 after buying an additional 607,354 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in CommVault Systems by 135.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 786,175 shares of the software maker’s stock worth $148,414,000 after acquiring an additional 452,422 shares during the period. Finally, AQR Capital Management LLC raised its holdings in CommVault Systems by 60.8% in the 2nd quarter. AQR Capital Management LLC now owns 893,385 shares of the software maker’s stock valued at $155,744,000 after acquiring an additional 337,830 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.