CommVault Systems, Inc. (NASDAQ:CVLT) Receives Average Recommendation of “Moderate Buy” from Brokerages

CommVault Systems, Inc. (NASDAQ:CVLT) has earned a consensus rating of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $143.5833.

A number of analysts recently issued reports on CVLT shares. Zacks Research raised shares of CommVault Systems from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. Oppenheimer decreased their price objective on shares of CommVault Systems from $180.00 to $150.00 and set an “outperform” rating for the company in a research note on Wednesday, January 28th. Cantor Fitzgerald dropped their price objective on shares of CommVault Systems from $144.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday, January 28th. Wells Fargo & Company cut their target price on shares of CommVault Systems from $190.00 to $155.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 28th. Finally, Truist Financial reaffirmed a “buy” rating and set a $155.00 price target (down from $175.00) on shares of CommVault Systems in a research report on Wednesday, January 28th.

Insider Transactions at CommVault Systems

In related news, insider Gary Merrill sold 2,593 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $90.28, for a total transaction of $234,096.04. Following the sale, the insider directly owned 64,725 shares in the company, valued at approximately $5,843,373. This trade represents a 3.85% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sanjay Mirchandani sold 6,480 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $90.28, for a total value of $585,014.40. Following the transaction, the chief executive officer directly owned 352,919 shares in the company, valued at $31,861,527.32. This trade represents a 1.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 10,965 shares of company stock worth $991,812. 1.00% of the stock is currently owned by insiders.

Institutional Trading of CommVault Systems

Hedge funds have recently made changes to their positions in the company. State of Wyoming acquired a new position in shares of CommVault Systems during the second quarter worth $35,000. FNY Investment Advisers LLC purchased a new stake in CommVault Systems during the 4th quarter worth $36,000. Banque Cantonale Vaudoise acquired a new position in CommVault Systems in the 3rd quarter worth $39,000. Assetmark Inc. lifted its holdings in CommVault Systems by 33.6% in the 4th quarter. Assetmark Inc. now owns 326 shares of the software maker’s stock worth $41,000 after buying an additional 82 shares in the last quarter. Finally, Cullen Frost Bankers Inc. boosted its position in CommVault Systems by 43.8% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 243 shares of the software maker’s stock valued at $46,000 after buying an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

CommVault Systems Trading Up 2.0%

Shares of CVLT opened at $87.00 on Wednesday. CommVault Systems has a twelve month low of $79.51 and a twelve month high of $200.68. The firm has a market capitalization of $3.83 billion, a P/E ratio of 44.85 and a beta of 0.59. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 4.06. The stock’s fifty day simple moving average is $105.31 and its 200 day simple moving average is $138.38.

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 analysts’ consensus estimates of $0.98 by $0.19. The firm had revenue of $313.83 million during 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%.The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.94 earnings per share. On average, equities research analysts forecast that CommVault Systems will post 1.65 earnings per share for the current year.

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.