Loop Capital Initiates Coverage on CommVault Systems (NASDAQ:CVLT)

Loop Capital assumed coverage on shares of CommVault Systems (NASDAQ:CVLT) in a research report issued on Tuesday,Benzinga reports. The firm set a “buy” rating and a $125.00 price target on the software maker’s stock. Loop Capital’s price target would suggest a potential upside of 54.72% from the company’s current price.

CVLT has been the topic of a number of other reports. Guggenheim decreased their target price on shares of CommVault Systems from $200.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, January 28th. Wall Street Zen upgraded CommVault Systems from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. DA Davidson lowered their price objective on CommVault Systems from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. Piper Sandler dropped their target price on CommVault Systems from $186.00 to $155.00 and set an “overweight” rating for the company in a report on Monday, January 5th. Finally, Royal Bank Of Canada cut their target price on CommVault Systems from $167.00 to $100.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 28th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.38.

CommVault Systems Trading Up 1.7%

Shares of CVLT stock opened at $80.79 on Tuesday. CommVault Systems has a fifty-two week low of $76.99 and a fifty-two week high of $200.68. The firm has a market capitalization of $3.55 billion, a P/E ratio of 41.64 and a beta of 0.59. The stock’s fifty day moving average is $92.97 and its two-hundred day moving average is $128.70. 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 (NASDAQ:CVLT) last issued its earnings results 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 analysts’ expectations of $299.07 million. CommVault Systems had a net margin of 7.58% and a return on equity of 37.38%. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 earnings per share. Research analysts expect that CommVault Systems will post 1.65 earnings per share for the current fiscal year.

Insider Activity at CommVault Systems

In related news, CEO Sanjay Mirchandani sold 10,338 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $78.96, for a total value of $816,288.48. Following the completion of the transaction, the chief executive officer directly owned 342,581 shares in the company, valued at approximately $27,050,195.76. This represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gary Merrill sold 2,593 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $90.28, for a total value of $234,096.04. Following the sale, the insider directly owned 64,725 shares of the company’s stock, valued at approximately $5,843,373. This trade represents a 3.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 31,355 shares of company stock valued at $2,613,165 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of CommVault Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tudor Investment Corp ET AL purchased a new stake in CommVault Systems in the 3rd quarter valued at about $1,887,800,000. First Trust Advisors LP boosted its stake in CommVault Systems by 1,335.8% during the third quarter. First Trust Advisors LP now owns 1,224,856 shares of the software maker’s stock worth $231,228,000 after buying an additional 1,139,547 shares during the period. M&T Bank Corp boosted its stake in CommVault Systems by 22,133.9% during the fourth quarter. M&T Bank Corp now owns 610,098 shares of the software maker’s stock worth $76,482,000 after buying an additional 607,354 shares during the period. Westfield Capital Management Co. LP increased its position in shares of CommVault Systems by 135.6% during the third quarter. Westfield Capital Management Co. LP now owns 786,175 shares of the software maker’s stock valued at $148,414,000 after acquiring an additional 452,422 shares during the last quarter. Finally, TD Asset Management Inc increased its position in shares of CommVault Systems by 14,047.5% during the fourth quarter. TD Asset Management Inc now owns 381,982 shares of the software maker’s stock valued at $47,885,000 after acquiring an additional 379,282 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

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.