CommVault Systems (NASDAQ:CVLT) Stock Rating Upgraded by Scotiabank

CommVault Systems (NASDAQ:CVLT) was upgraded by stock analysts at Scotiabank to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

CVLT has been the topic of several other research reports. Cantor Fitzgerald reduced their price objective on shares of CommVault Systems from $144.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 28th. Wall Street Zen downgraded shares of CommVault Systems from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of CommVault Systems in a report on Wednesday, January 21st. Loop Capital started coverage on shares of CommVault Systems in a research report on Tuesday, March 24th. They set a “buy” rating and a $125.00 price target on the stock. Finally, Royal Bank Of Canada decreased their price target on shares of CommVault Systems from $167.00 to $100.00 and set a “sector perform” rating for the company in a report on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.86.

CommVault Systems Trading Up 0.9%

Shares of CommVault Systems stock traded up $0.84 during trading on Monday, reaching $94.47. 107,598 shares of the company were exchanged, compared to its average volume of 1,112,020. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 4.06. CommVault Systems has a twelve month low of $71.75 and a twelve month high of $200.68. The business has a 50-day moving average price of $84.69 and a 200-day moving average price of $113.54. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of 48.92 and a beta of 0.63.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, January 27th. The software maker reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.19. The business had revenue of $313.83 million during the quarter, compared to the consensus estimate of $299.07 million. CommVault Systems had a return on equity of 37.38% and a net margin of 7.58%.The firm’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.94 earnings per share. Sell-side analysts anticipate that CommVault Systems will post 2.13 EPS for the current fiscal year.

Insider Buying and Selling

In other CommVault Systems news, CEO Sanjay Mirchandani sold 10,052 shares of CommVault Systems stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $80.09, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gary Merrill sold 1,892 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $5,735,396.24. This trade represents a 2.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 31,355 shares of company stock valued at $2,613,165. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On CommVault Systems

Several institutional investors have recently added to or reduced their stakes in CVLT. State of Wyoming bought a new position in CommVault Systems during the 2nd quarter worth about $35,000. FNY Investment Advisers LLC bought a new stake in shares of CommVault Systems in the fourth quarter valued at about $36,000. Banque Cantonale Vaudoise acquired a new position in shares of CommVault Systems during the third quarter worth about $39,000. Assetmark Inc. grew its holdings in shares of CommVault Systems by 33.6% during the fourth quarter. Assetmark Inc. now owns 326 shares of the software maker’s stock worth $41,000 after buying an additional 82 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its holdings in shares of CommVault Systems by 43.8% during the third quarter. Cullen Frost Bankers Inc. now owns 243 shares of the software maker’s stock worth $46,000 after buying an additional 74 shares in the last quarter. 93.50% of the stock is owned by 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.