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

Scotiabank started coverage on shares of CommVault Systems (NASDAQ:CVLT) in a research report sent to investors on Tuesday morning, MarketBeat reports. The brokerage issued a sector perform rating and a $105.00 price objective on the software maker’s stock.

A number of other equities analysts have also commented on CVLT. William Blair reiterated a “market perform” rating on shares of CommVault Systems in a report on Monday, March 23rd. Cantor Fitzgerald cut their price objective on shares of CommVault Systems from $144.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday, January 28th. Robert W. Baird cut their price objective on shares of CommVault Systems from $185.00 to $160.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Mizuho cut their price objective on shares of CommVault Systems from $180.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, January 28th. Finally, Wells Fargo & Company cut their price objective on shares of CommVault Systems from $190.00 to $155.00 and set an “overweight” rating on the stock in a report on Wednesday, January 28th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $134.86.

CommVault Systems Stock Performance

Shares of CVLT stock opened at $93.63 on Tuesday. The company’s fifty day simple moving average is $84.69 and its 200-day simple moving average is $113.54. CommVault Systems has a 52 week low of $71.75 and a 52 week high of $200.68. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 4.06. The company has a market cap of $4.12 billion, a PE ratio of 48.26 and a beta of 0.63.

CommVault Systems (NASDAQ:CVLT) last issued its 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. CommVault Systems had a net margin of 7.58% and a return on equity of 37.38%. The business had revenue of $313.83 million for the quarter, compared to the consensus estimate of $299.07 million. During the same quarter last year, the firm posted $0.94 EPS. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, equities research analysts anticipate that CommVault Systems will post 2.13 EPS for the current year.

Insider Activity

In other news, CEO Sanjay Mirchandani sold 10,052 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $80.09, for a total value of $805,064.68. Following the completion of the sale, the chief executive officer owned 332,529 shares of the company’s stock, valued at approximately $26,632,247.61. The trade was a 2.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary Merrill sold 1,892 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $91.28, for a total transaction of $172,701.76. Following the completion of the sale, the insider directly owned 62,833 shares of the company’s stock, valued at $5,735,396.24. The trade was a 2.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 31,355 shares of company stock valued at $2,613,165 in the last three months. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On CommVault Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Wyoming bought a new stake in shares of CommVault Systems in the 2nd quarter worth about $35,000. FNY Investment Advisers LLC bought a new stake in shares of CommVault Systems in the 4th quarter worth about $36,000. Banque Cantonale Vaudoise bought a new stake in shares of CommVault Systems in the 3rd quarter worth about $39,000. Assetmark Inc. increased its position in shares of CommVault Systems by 33.6% in the 4th quarter. Assetmark Inc. now owns 326 shares of the software maker’s stock worth $41,000 after purchasing an additional 82 shares during the last quarter. Finally, Cullen Frost Bankers Inc. increased its position in shares of CommVault Systems by 43.8% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 243 shares of the software maker’s stock worth $46,000 after purchasing an additional 74 shares during the last quarter. Institutional investors 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.