CommVault Systems (NASDAQ:CVLT) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of CommVault Systems (NASDAQ:CVLT) from a buy rating to a hold rating in a research report report published on Saturday morning.

Several other brokerages have also recently issued reports on CVLT. Jefferies Financial Group reiterated a “hold” rating and set a $130.00 price target on shares of CommVault Systems in a research report on Wednesday, July 29th. Piper Sandler lowered shares of CommVault Systems from an “overweight” rating to a “neutral” rating and set a $133.00 price objective for the company. in a report on Tuesday, July 28th. Mizuho lifted their price objective on CommVault Systems from $140.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Stephens upped their target price on CommVault Systems from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, June 16th. Finally, Wolfe Research began coverage on CommVault Systems in a research report on Friday, May 1st. They issued a “peer perform” rating for the company. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $152.47.

CommVault Systems Stock Performance

NASDAQ:CVLT opened at $144.32 on Friday. The stock has a market cap of $5.98 billion, a P/E ratio of 91.92 and a beta of 0.81. The firm’s fifty day simple moving average is $137.74 and its 200 day simple moving average is $108.27. CommVault Systems has a twelve month low of $71.75 and a twelve month high of $198.18. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 16.94.

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

Insider Buying and Selling

In other CommVault Systems news, CFO Gary Merrill sold 4,554 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $106.70, for a total value of $485,911.80. Following the sale, the chief financial officer owned 72,775 shares in the company, valued at approximately $7,765,092.50. This represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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, Director A Shane Sanders sold 476 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $134.19, for a total transaction of $63,874.44. Following the transaction, the director directly owned 8,696 shares of the company’s stock, valued at $1,166,916.24. This represents a 5.19% decrease in their position. 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. Insiders sold 18,849 shares of company stock worth $1,987,575 over the last 90 days. Corporate insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On CommVault Systems

Large investors have recently made changes to their positions in the business. Equitable Holdings Inc. bought a new stake in shares of CommVault Systems in the 2nd quarter worth approximately $488,000. Public Employees Retirement System of Ohio bought a new position in CommVault Systems during the 2nd quarter valued at approximately $55,000. Transamerica Financial Advisors LLC bought a new position in CommVault Systems during the 2nd quarter valued at approximately $25,000. Corient Private Wealth LP purchased a new position in CommVault Systems during the second quarter valued at $9,966,000. Finally, Bank of America Corp DE purchased a new position in CommVault Systems during the second quarter valued at $51,709,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

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.