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

CommVault Systems (NASDAQ:CVLT) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Other equities research analysts also recently issued reports about the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $132.00 price target on shares of CommVault Systems in a report on Monday, July 27th. UBS Group restated a “neutral” rating on shares of CommVault Systems in a research note on Monday, July 27th. Truist Financial lifted their target price on shares of CommVault Systems from $155.00 to $182.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. KeyCorp boosted their price target on shares of CommVault Systems from $125.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Finally, Zacks Research downgraded shares of CommVault Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. One investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $152.47.

CommVault Systems Price Performance

Shares of CVLT opened at $147.09 on Friday. The company has a debt-to-equity ratio of 16.94, a quick ratio of 2.04 and a current ratio of 2.04. CommVault Systems has a fifty-two week low of $71.75 and a fifty-two week high of $198.18. The firm has a 50-day simple moving average of $137.29 and a 200-day simple moving average of $107.88. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 93.69 and a beta of 0.81.

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

Insider Activity at CommVault Systems

In other news, CEO Sanjay Mirchandani sold 8,450 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $99.13, for a total transaction of $837,648.50. Following the sale, the chief executive officer owned 306,927 shares of the company’s stock, valued at $30,425,673.51. The trade was a 2.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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, CFO Gary Merrill sold 4,554 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $106.70, for a total value of $485,911.80. Following the completion of 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 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 43,870 shares of company stock worth $4,625,634. 0.86% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CVLT. BlackRock Inc. purchased a new stake in CommVault Systems in the 2nd quarter valued at approximately $855,420,000. M&T Bank Corp lifted its position in shares of CommVault Systems by 22,133.9% in the fourth quarter. M&T Bank Corp now owns 610,098 shares of the software maker’s stock valued at $76,482,000 after acquiring an additional 607,354 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in CommVault Systems in the 2nd quarter valued at about $65,765,000. American Capital Management Inc. purchased a new stake in shares of CommVault Systems during the second quarter worth about $62,493,000. Finally, TD Asset Management Inc raised its position in shares of CommVault Systems by 14,047.5% in the fourth quarter. TD Asset Management Inc now owns 381,982 shares of the software maker’s stock valued at $47,885,000 after buying an additional 379,282 shares during the last quarter. Institutional investors and hedge funds 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.