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

Shares of CommVault Systems, Inc. (NASDAQ:CVLT) hit a new 52-week low during trading on Thursday . The stock traded as low as $71.75 and last traded at $73.3890, with a volume of 529190 shares trading hands. The stock had previously closed at $79.07.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Stephens cut their price objective on shares of CommVault Systems from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 28th. Loop Capital assumed coverage on shares of CommVault Systems in a research report on Tuesday, March 24th. They set a “buy” rating and a $125.00 price objective on the stock. William Blair reissued a “market perform” rating on shares of CommVault Systems in a research report on Monday, March 23rd. DA Davidson cut their price objective on shares of CommVault Systems from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. Finally, Wall Street Zen downgraded shares of CommVault Systems from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.38.

CommVault Systems Stock Performance

The business’s fifty day moving average price is $83.61 and its 200-day moving average price is $120.13. The company has a debt-to-equity ratio of 4.06, a quick ratio of 2.34 and a current ratio of 2.34. The stock has a market cap of $3.50 billion, a PE ratio of 41.08 and a beta of 0.63.

CommVault Systems (NASDAQ:CVLT) last announced 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 for the quarter, compared to the consensus estimate of $299.07 million. CommVault Systems had a net margin of 7.58% and a return on equity of 37.38%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 EPS. As a group, equities research analysts forecast that CommVault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Insider Activity at CommVault Systems

In other CommVault Systems news, insider Gary Merrill sold 2,593 shares of CommVault Systems stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $90.28, for a total transaction of $234,096.04. Following the transaction, the insider owned 64,725 shares of the company’s stock, valued at $5,843,373. The trade was a 3.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mirchandani sold 10,338 shares of CommVault Systems stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $78.96, for a total transaction of $816,288.48. Following the transaction, the chief executive officer directly owned 342,581 shares in the company, valued at $27,050,195.76. This represents a 2.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 31,355 shares of company stock worth $2,613,165 in the last ninety days. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On CommVault Systems

Large investors have recently added to or reduced their stakes in the company. State of Wyoming purchased a new position in CommVault Systems during the second quarter valued at approximately $35,000. FNY Investment Advisers LLC bought a new stake in CommVault Systems in the fourth quarter worth $36,000. Banque Cantonale Vaudoise bought a new stake in CommVault Systems in the third quarter worth $39,000. Assetmark Inc. increased its position in CommVault Systems by 33.6% in the fourth 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. increased its position in CommVault Systems by 43.8% in the third 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 last quarter. Hedge funds and other 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.