CommVault Systems (NASDAQ:CVLT) Upgraded at Scotiabank

Scotiabank upgraded shares of CommVault Systems (NASDAQ:CVLT) to a hold rating in a research report released on Monday,Zacks.com reports.

Several other research analysts also recently commented on CVLT. William Blair restated a “market perform” rating on shares of CommVault Systems in a report on Monday, March 23rd. Piper Sandler reduced their price objective on CommVault Systems from $186.00 to $155.00 and set an “overweight” rating on the stock in a report on Monday, January 5th. Loop Capital assumed coverage on CommVault Systems in a report on Tuesday, March 24th. They set a “buy” rating and a $125.00 price objective on the stock. Oppenheimer reduced their price objective on CommVault Systems from $180.00 to $150.00 and set an “outperform” rating on the stock in a report on Wednesday, January 28th. Finally, Mizuho reduced their price objective on CommVault Systems from $180.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, CommVault Systems currently has an average rating of “Moderate Buy” and a consensus price target of $134.86.

CommVault Systems Trading Up 2.1%

CVLT opened at $95.58 on Monday. The stock’s fifty day moving average is $84.85 and its two-hundred day moving average is $113.42. The company has a market capitalization of $4.20 billion, a P/E ratio of 49.27 and a beta of 0.63. CommVault Systems has a 52 week low of $71.75 and a 52 week high of $200.68. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 4.06.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, January 27th. The software maker reported $1.17 EPS for the quarter, topping the consensus estimate of $0.98 by $0.19. The company had revenue of $313.83 million for 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 business posted $0.94 EPS. Analysts forecast that CommVault Systems will post 2.13 earnings per share for the current year.

Insider Buying and Selling at CommVault Systems

In other CommVault Systems news, CEO Sanjay Mirchandani sold 10,052 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $80.09, for a total transaction of $805,064.68. Following the sale, the chief executive officer owned 332,529 shares of the company’s stock, valued at approximately $26,632,247.61. This trade represents a 2.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary Merrill sold 1,892 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $91.28, for a total value of $172,701.76. Following the sale, the insider directly owned 62,833 shares in the company, valued at $5,735,396.24. This trade represents a 2.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 31,355 shares of company stock worth $2,613,165 in the last ninety days. Insiders own 1.00% of the company’s stock.

Institutional Trading of CommVault Systems

A number of institutional investors have recently made changes to their positions in the business. Fort Washington Investment Advisors Inc. OH boosted its position in shares of CommVault Systems by 64.3% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 273,206 shares of the software maker’s stock worth $21,280,000 after purchasing an additional 106,970 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in shares of CommVault Systems by 36.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,239,225 shares of the software maker’s stock worth $96,447,000 after purchasing an additional 329,243 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of CommVault Systems by 74.7% in the 1st quarter. Sterling Capital Management LLC now owns 8,265 shares of the software maker’s stock worth $644,000 after purchasing an additional 3,534 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of CommVault Systems in the 1st quarter worth $997,000. Finally, Evolve Private Wealth LLC acquired a new stake in shares of CommVault Systems in the 1st quarter worth $262,000. Institutional investors and hedge funds 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.