CommVault Systems, Inc. (NASDAQ:CVLT) Given Average Rating of “Moderate Buy” by Brokerages

CommVault Systems, Inc. (NASDAQ:CVLT) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $137.1538.

A number of research analysts have commented on CVLT shares. Truist Financial restated a “buy” rating and issued a $155.00 target price (down from $175.00) on shares of CommVault Systems in a research note on Wednesday, January 28th. Cantor Fitzgerald lowered their target price 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. Royal Bank Of Canada reduced their price objective on CommVault Systems from $167.00 to $100.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 28th. Wells Fargo & Company reduced their target price on CommVault Systems from $190.00 to $155.00 and set an “overweight” rating on the stock in a report on Wednesday, January 28th. Finally, Guggenheim reduced their price target on shares of CommVault Systems from $200.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, January 28th.

Insider Buying and Selling

In other news, insider Gary Merrill sold 1,892 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sanjay Mirchandani sold 10,052 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer owned 332,529 shares in the company, valued at approximately $26,632,247.61. The trade was a 2.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 31,355 shares of company stock valued at $2,613,165. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CommVault Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tudor Investment Corp ET AL purchased a new position in CommVault Systems during the 3rd quarter valued at about $1,887,800,000. First Trust Advisors LP boosted its position in shares of CommVault Systems by 1,335.8% in the third quarter. First Trust Advisors LP now owns 1,224,856 shares of the software maker’s stock worth $231,228,000 after purchasing an additional 1,139,547 shares during the period. M&T Bank Corp lifted its position in shares of CommVault Systems by 22,133.9% in the fourth quarter. M&T Bank Corp now owns 610,098 shares of the software maker’s stock valued at $76,482,000 after acquiring an additional 607,354 shares in the last quarter. Westfield Capital Management Co. LP grew its position in shares of 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 valued at $148,414,000 after purchasing an additional 452,422 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in shares of CommVault Systems by 14,047.5% during the 4th quarter. TD Asset Management Inc now owns 381,982 shares of the software maker’s stock valued at $47,885,000 after acquiring an additional 379,282 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

CommVault Systems Stock Performance

Shares of NASDAQ CVLT opened at $95.90 on Thursday. The firm has a market cap of $4.22 billion, a P/E ratio of 49.43 and a beta of 0.63. CommVault Systems has a 1 year low of $71.75 and a 1 year high of $200.68. The stock has a fifty day moving average price of $84.57 and a two-hundred day moving average price of $114.15. The company has a debt-to-equity ratio of 4.06, a quick ratio of 2.34 and a current ratio of 2.34.

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, beating the consensus estimate of $0.98 by $0.19. CommVault Systems had a return on equity of 37.38% and a net margin of 7.58%.The company had revenue of $313.83 million for the quarter, compared to analysts’ expectations of $299.07 million. During the same quarter in the prior year, the company earned $0.94 earnings per share. The firm’s revenue was up 19.5% on a year-over-year basis. Research analysts forecast that CommVault Systems will post 2.13 EPS for the current fiscal year.

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.