CommVault Systems (NASDAQ:CVLT) Reaches New 12-Month Low – Here’s Why

Shares of CommVault Systems, Inc. (NASDAQ:CVLT) hit a new 52-week low during trading on Friday . The company traded as low as $76.79 and last traded at $77.49, with a volume of 51335 shares trading hands. The stock had previously closed at $81.16.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CVLT. Oppenheimer reduced their price objective on shares of CommVault Systems from $180.00 to $150.00 and set an “outperform” rating for the company in a research note on Wednesday, January 28th. Wells Fargo & Company dropped their target price on CommVault Systems from $190.00 to $155.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 28th. Zacks Research raised CommVault Systems from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. KeyCorp reduced their price target on CommVault Systems from $152.00 to $108.00 and set an “overweight” rating for the company in a research report on Wednesday, January 28th. Finally, Mizuho decreased their price objective on CommVault Systems from $180.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 28th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, CommVault Systems has a consensus rating of “Moderate Buy” and an average price target of $141.38.

CommVault Systems Stock Down 6.3%

The company’s 50 day simple moving average is $89.33 and its 200-day simple moving average is $126.17. The company has a debt-to-equity ratio of 4.06, a quick ratio of 2.34 and a current ratio of 2.34. The firm has a market capitalization of $3.35 billion, a PE ratio of 39.22 and a beta of 0.59.

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

Insider Activity

In other CommVault Systems news, insider Gary Merrill sold 2,593 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $90.28, for a total value of $234,096.04. Following the sale, the insider owned 64,725 shares of the company’s stock, valued at $5,843,373. This trade represents a 3.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sanjay Mirchandani sold 10,338 shares of CommVault Systems stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $78.96, for a total value of $816,288.48. Following the sale, the chief executive officer owned 342,581 shares of the company’s stock, valued at approximately $27,050,195.76. This trade represents a 2.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 31,355 shares of company stock valued at $2,613,165. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On CommVault Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of CVLT. Tudor Investment Corp ET AL purchased a new position in CommVault Systems in the third quarter worth $1,887,800,000. First Trust Advisors LP raised its position in CommVault Systems by 1,335.8% during 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 purchasing an additional 1,139,547 shares in the last quarter. M&T Bank Corp raised 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 valued at $76,482,000 after purchasing an additional 607,354 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in CommVault Systems by 135.6% during the third quarter. Westfield Capital Management Co. LP now owns 786,175 shares of the software maker’s stock worth $148,414,000 after purchasing an additional 452,422 shares during the last quarter. Finally, TD Asset Management Inc boosted its holdings in shares of CommVault Systems by 14,047.5% in the 4th quarter. TD Asset Management Inc now owns 381,982 shares of the software maker’s stock worth $47,885,000 after purchasing an additional 379,282 shares in the last quarter. Hedge funds and other 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.