CommVault Systems (NASDAQ:CVLT) Rating Lowered to “Hold” at Wall Street Zen

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

CVLT has been the topic of a number of other reports. KeyCorp dropped their target price on shares of CommVault Systems from $152.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday, January 28th. Weiss Ratings restated a “hold (c)” rating on shares of CommVault Systems in a report on Wednesday, January 21st. Stephens decreased their price target on shares of CommVault Systems from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 28th. Truist Financial reaffirmed a “buy” rating and issued a $155.00 price target (down from $175.00) on shares of CommVault Systems in a report on Wednesday, January 28th. Finally, Zacks Research upgraded CommVault Systems from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $141.38.

CommVault Systems Price Performance

NASDAQ:CVLT opened at $76.08 on Friday. The business’s 50-day moving average price is $89.33 and its 200 day moving average price is $126.58. The firm has a market cap of $3.35 billion, a P/E ratio of 39.22 and a beta of 0.59. CommVault Systems has a 52-week low of $76.06 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 issued its quarterly earnings results on Tuesday, January 27th. The software maker reported $1.17 EPS for the quarter, topping the consensus estimate of $0.98 by $0.19. CommVault Systems had a net margin of 7.58% and a return on equity of 37.38%. The firm had revenue of $313.83 million for the quarter, compared to analysts’ expectations of $299.07 million. During the same period in the previous year, the business earned $0.94 earnings per share. CommVault Systems’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, sell-side analysts predict that CommVault Systems will post 1.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Sanjay Mirchandani sold 10,052 shares of CommVault Systems 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary Merrill sold 1,892 shares of CommVault Systems stock in a transaction dated 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 owned 62,833 shares of the company’s stock, valued at approximately $5,735,396.24. This represents a 2.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 31,355 shares of company stock valued at $2,613,165 in the last three months. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in CommVault Systems by 8.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,410 shares of the software maker’s stock worth $23,255,000 after purchasing an additional 11,700 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of CommVault Systems in the second quarter valued at approximately $327,000. Cetera Investment Advisers lifted its stake in shares of CommVault Systems by 13.4% in the second quarter. Cetera Investment Advisers now owns 2,486 shares of the software maker’s stock worth $433,000 after buying an additional 294 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of CommVault Systems by 2.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 569,345 shares of the software maker’s stock worth $99,254,000 after buying an additional 11,148 shares during the period. Finally, Global Retirement Partners LLC bought a new stake in shares of CommVault Systems during the 2nd quarter worth $479,000. 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.