CommVault Systems (NASDAQ:CVLT) Research Coverage Started at Scotiabank

Scotiabank started coverage on shares of CommVault Systems (NASDAQ:CVLT) in a report released on Tuesday morning, MarketBeat reports. The brokerage issued a sector perform rating and a $105.00 price target on the software maker’s stock.

Several other analysts have also recently commented on the stock. Piper Sandler decreased their price target on shares of CommVault Systems from $186.00 to $155.00 and set an “overweight” rating on the stock in a research note on Monday, January 5th. Zacks Research raised CommVault Systems from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. Robert W. Baird decreased their price objective on CommVault Systems from $185.00 to $160.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. Mizuho lowered their target price on CommVault Systems from $180.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, January 28th. Finally, Loop Capital initiated coverage on CommVault Systems in a research note on Tuesday, March 24th. They set a “buy” rating and a $125.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.86.

CommVault Systems Stock Performance

Shares of NASDAQ:CVLT opened at $90.15 on Tuesday. The business has a fifty day moving average of $84.90 and a 200-day moving average of $113.25. 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 has a twelve month low of $71.75 and a twelve month high of $200.68. The firm has a market cap of $3.96 billion, a PE ratio of 46.47 and a beta of 0.63.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, January 27th. The software maker reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.19. The business 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 firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 EPS. On average, equities research analysts predict that CommVault Systems will post 2.15 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Sanjay Mirchandani sold 10,052 shares of the firm’s stock in a transaction on 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 approximately $26,632,247.61. This trade represents a 2.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gary Merrill sold 1,892 shares of CommVault Systems stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $91.28, for a total value of $172,701.76. Following the transaction, the insider owned 62,833 shares in the company, valued at approximately $5,735,396.24. This represents a 2.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 31,355 shares of company stock valued at $2,613,165. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On CommVault Systems

A number of hedge funds have recently modified their holdings of CVLT. Boston Trust Walden Corp acquired a new stake in CommVault Systems during the 4th quarter worth approximately $30,830,000. Federated Hermes Inc. boosted its holdings in shares of CommVault Systems by 9.7% in the third quarter. Federated Hermes Inc. now owns 322,053 shares of the software maker’s stock valued at $60,797,000 after buying an additional 28,596 shares during the period. JPMorgan Chase & Co. increased its position in shares of CommVault Systems by 131.7% during the third quarter. JPMorgan Chase & Co. now owns 382,778 shares of the software maker’s stock worth $72,261,000 after acquiring an additional 217,557 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of CommVault Systems by 19.4% during the third quarter. Victory Capital Management Inc. now owns 118,284 shares of the software maker’s stock worth $22,330,000 after acquiring an additional 19,218 shares in the last quarter. Finally, Emerald Advisers LLC raised its holdings in shares of CommVault Systems by 47.4% during the third quarter. Emerald Advisers LLC now owns 156,894 shares of the software maker’s stock worth $29,618,000 after acquiring an additional 50,470 shares during the period. Institutional investors and hedge funds 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.