Wall Street Zen Downgrades CommVault Systems (NASDAQ:CVLT) to Hold

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

A number of other brokerages have also commented on CVLT. Stephens upped their price target on CommVault Systems from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, June 16th. UBS Group restated a “neutral” rating on shares of CommVault Systems in a research note on Monday, July 27th. KeyCorp upped their target price on shares of CommVault Systems from $125.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Oppenheimer increased their price target on shares of CommVault Systems from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Finally, Truist Financial raised their price target on shares of CommVault Systems from $155.00 to $182.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, CommVault Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.47.

CommVault Systems Trading Down 0.0%

CommVault Systems stock opened at $136.40 on Friday. CommVault Systems has a 52 week low of $71.75 and a 52 week high of $198.18. The company has a debt-to-equity ratio of 16.94, a quick ratio of 2.04 and a current ratio of 2.04. The firm has a market capitalization of $5.65 billion, a PE ratio of 86.88 and a beta of 0.82. The business’s 50-day simple moving average is $139.60 and its 200-day simple moving average is $113.08.

CommVault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.26. The firm had revenue of $314.13 million during the quarter, compared to the consensus estimate of $310.43 million. CommVault Systems had a return on equity of 88.75% and a net margin of 5.62%.The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 EPS. Equities research analysts forecast that CommVault Systems will post 2.84 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Sanjay Mirchandani sold 12,437 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $143.98, for a total transaction of $1,790,679.26. Following the completion of the sale, the chief executive officer directly owned 269,373 shares of the company’s stock, valued at $38,784,324.54. This trade represents a 4.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Danielle Abrahamsen sold 486 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total transaction of $69,400.80. Following the completion of the transaction, the chief accounting officer directly owned 12,160 shares of the company’s stock, valued at approximately $1,736,448. This represents a 3.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 29,602 shares of company stock worth $4,240,541. Insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Transamerica Financial Advisors LLC bought a new stake in shares of CommVault Systems during the second quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in CommVault Systems during the 2nd quarter worth $27,000. Silvant Capital Management LLC bought a new stake in shares of CommVault Systems during the 2nd quarter valued at $30,000. State of Wyoming bought a new stake in shares of CommVault Systems during the 2nd quarter valued at $35,000. Finally, Essential Partners LLC lifted its stake in shares of CommVault Systems by 9,920.0% in the 1st quarter. Essential Partners LLC now owns 501 shares of the software maker’s stock valued at $39,000 after purchasing an additional 496 shares during the period. Institutional investors 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.