CommVault Systems (NASDAQ:CVLT) Sets New 52-Week Low – Here’s What Happened

CommVault Systems, Inc. (NASDAQ:CVLT)’s share price reached a new 52-week low on Friday . The stock traded as low as $77.36 and last traded at $77.52, with a volume of 67759 shares trading hands. The stock had previously closed at $79.80.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Royal Bank Of Canada dropped their price objective on CommVault Systems from $167.00 to $100.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 28th. DA Davidson lowered their target price on CommVault Systems from $135.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday. Cantor Fitzgerald dropped their price target on CommVault Systems from $144.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 28th. Guggenheim cut their price target on CommVault Systems from $200.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, January 28th. Finally, Oppenheimer decreased their price objective on CommVault Systems from $180.00 to $150.00 and set an “outperform” rating for the company in a report on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.75.

CommVault Systems Stock Down 1.9%

The business’s 50 day moving average is $94.79 and its 200 day moving average is $130.81. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 4.06. The company has a market cap of $3.44 billion, a P/E ratio of 40.30 and a beta of 0.59.

CommVault Systems (NASDAQ:CVLT) last announced its 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 business had revenue of $313.83 million for the quarter, compared to analysts’ expectations of $299.07 million. During the same quarter last year, the firm earned $0.94 EPS. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, equities analysts anticipate that CommVault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

Insider Transactions at CommVault Systems

In related news, CEO Sanjay Mirchandani sold 10,052 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $80.09, for a total transaction of $805,064.68. Following the sale, the chief executive officer owned 332,529 shares of the company’s stock, valued at $26,632,247.61. This trade represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gary Merrill sold 1,892 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $91.28, for a total transaction of $172,701.76. Following the completion of the transaction, the insider owned 62,833 shares of the company’s stock, valued at $5,735,396.24. This represents a 2.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 31,355 shares of company stock worth $2,613,165. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CVLT. Federated Hermes Inc. increased its position in shares of CommVault Systems by 9.7% during the third quarter. Federated Hermes Inc. now owns 322,053 shares of the software maker’s stock worth $60,797,000 after purchasing an additional 28,596 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of CommVault Systems by 131.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 382,778 shares of the software maker’s stock worth $72,261,000 after purchasing an additional 217,557 shares in the last quarter. Emerald Advisers LLC boosted its position in shares of CommVault Systems by 47.4% in the 3rd quarter. Emerald Advisers LLC now owns 156,894 shares of the software maker’s stock worth $29,618,000 after purchasing an additional 50,470 shares in the last quarter. Victory Capital Management Inc. grew its stake in CommVault Systems by 19.4% during the 3rd quarter. Victory Capital Management Inc. now owns 118,284 shares of the software maker’s stock worth $22,330,000 after buying an additional 19,218 shares during the last quarter. Finally, Strengthening Families & Communities LLC grew its stake in CommVault Systems by 2,215.4% during the 3rd quarter. Strengthening Families & Communities LLC now owns 18,037 shares of the software maker’s stock worth $3,350,000 after buying an additional 17,258 shares during the last quarter. 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.