CommVault Systems (NASDAQ:CVLT) Now Covered by Wolfe Research

Wolfe Research started coverage on shares of CommVault Systems (NASDAQ:CVLT) in a research report report published on Friday morning, MarketBeat reports. The firm issued a peer perform rating on the software maker’s stock.

Other research analysts have also recently issued research reports about the stock. William Blair restated a “market perform” rating on shares of CommVault Systems in a report on Monday, March 23rd. Weiss Ratings restated a “hold (c)” rating on shares of CommVault Systems in a report on Wednesday, January 21st. Oppenheimer lowered their target price on shares of CommVault Systems from $180.00 to $150.00 and set an “outperform” rating for the company in a report on Wednesday, January 28th. Stephens lowered their target price on shares of CommVault Systems from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday, January 28th. Finally, Wall Street Zen cut shares of CommVault Systems from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $135.00.

CommVault Systems Stock Up 0.7%

Shares of CommVault Systems stock traded up $0.69 during trading hours on Friday, hitting $99.57. The company had a trading volume of 555,833 shares, compared to its average volume of 1,196,507. The company’s 50-day moving average is $85.57 and its two-hundred day moving average is $110.54. CommVault Systems has a twelve month low of $71.75 and a twelve month high of $200.68. The company has a debt-to-equity ratio of 117.54, a current ratio of 1.95 and a quick ratio of 2.34. The company has a market cap of $4.38 billion, a P/E ratio of 62.62 and a beta of 0.77.

CommVault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, April 28th. The software maker reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.19. CommVault Systems had a net margin of 5.97% and a return on equity of 51.64%. The business had revenue of $311.69 million during the quarter, compared to analysts’ expectations of $306.71 million. During the same quarter in the prior year, the business posted $1.03 EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. Analysts anticipate that CommVault Systems will post 2.72 earnings per share for the current fiscal year.

Insider Buying and Selling at CommVault Systems

In other CommVault Systems news, insider Gary Merrill sold 1,892 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were 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 in the company, valued at approximately $5,735,396.24. This represents a 2.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Mirchandani sold 10,052 shares of the company’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 transaction, the chief executive officer owned 332,529 shares of the company’s stock, valued at approximately $26,632,247.61. The trade was a 2.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 31,355 shares of company stock valued at $2,613,165. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On CommVault Systems

A number of large investors have recently bought and sold shares of the company. Diversify Wealth Management LLC raised its position in CommVault Systems by 72.7% during the 1st quarter. Diversify Wealth Management LLC now owns 12,536 shares of the software maker’s stock worth $976,000 after buying an additional 5,278 shares during the last quarter. Fifth Third Bancorp raised its position in CommVault Systems by 4,865.2% during the 1st quarter. Fifth Third Bancorp now owns 21,102 shares of the software maker’s stock worth $1,644,000 after buying an additional 20,677 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in CommVault Systems by 2.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 9,047 shares of the software maker’s stock worth $705,000 after buying an additional 222 shares during the last quarter. Praxis Investment Management Inc. purchased a new position in CommVault Systems during the 1st quarter worth $218,000. Finally, Y Intercept Hong Kong Ltd increased its holdings in shares of CommVault Systems by 1,415.4% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 61,781 shares of the software maker’s stock valued at $4,812,000 after purchasing an additional 57,704 shares in the last quarter. Hedge funds and other institutional investors 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.