CommVault Systems (NASDAQ:CVLT) Upgraded by Wall Street Zen to “Buy” Rating

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

Other equities analysts have also issued research reports about the company. DA Davidson decreased their price target on CommVault Systems from $185.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday. Truist Financial reaffirmed a “buy” rating and issued a $155.00 price objective (down from $175.00) on shares of CommVault Systems in a research note on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of CommVault Systems in a research report on Wednesday, January 21st. Robert W. Baird began coverage on CommVault Systems in a research note on Monday, October 27th. They set an “outperform” rating and a $215.00 target price for the company. Finally, Stephens reduced 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 note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently 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 company’s 50-day moving average price is $121.18 and its two-hundred day moving average price is $152.96. The firm has a market cap of $3.77 billion, a P/E ratio of 44.18 and a beta of 0.57. The company has a quick ratio of 2.53, a current ratio of 2.34 and a debt-to-equity ratio of 4.06. CommVault Systems has a 12 month low of $84.44 and a 12 month high of $200.68.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, January 27th. The software maker reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.19. The business had revenue of $313.83 million for 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%. During the same quarter last year, the business posted $0.94 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, analysts anticipate that CommVault Systems will post 1.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Sanjay Mirchandani sold 13,109 shares of CommVault Systems stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $121.15, for a total transaction of $1,588,155.35. Following the transaction, the chief executive officer owned 359,260 shares in the company, valued at approximately $43,524,349. The trade was a 3.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary Merrill sold 1,845 shares of the stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $122.40, for a total value of $225,828.00. Following the completion of the sale, the insider owned 67,318 shares of the company’s stock, valued at $8,239,723.20. The trade was a 2.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 33,111 shares of company stock valued at $4,058,851 in the last ninety days. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CommVault Systems

Institutional investors have recently made changes to their positions in the stock. State of Wyoming bought a new position in shares of CommVault Systems during the second quarter worth about $35,000. FNY Investment Advisers LLC acquired a new stake in CommVault Systems during the 4th quarter valued at approximately $36,000. Banque Cantonale Vaudoise acquired a new stake in CommVault Systems during the 3rd quarter valued at approximately $39,000. Assetmark Inc. raised its holdings in CommVault Systems by 33.6% during 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. lifted 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 period. 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.