Wall Street Zen Upgrades CommVault Systems (NASDAQ:CVLT) to Buy

CommVault Systems (NASDAQ:CVLT) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Sunday, Wall Street Zen reports.

CVLT has been the subject of several other reports. Scotiabank increased their price objective on CommVault Systems from $130.00 to $160.00 and gave the stock a “sector perform” rating in a research note on Monday, October 5th. Cantor Fitzgerald restated a “neutral” rating and issued a $132.00 target price on shares of CommVault Systems in a research note on Monday, July 27th. Weiss Ratings restated a “hold (c)” rating on shares of CommVault Systems in a research note on Friday, September 11th. FBN Securities initiated coverage on shares of CommVault Systems in a report on Thursday, September 10th. They issued an “outperform” rating and a $155.00 target price on the stock. Finally, Piper Sandler cut shares of CommVault Systems from an “overweight” rating to a “neutral” rating and set a $133.00 target price for the company. in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $158.25.

CommVault Systems Trading Up 2.5%

CVLT stock opened at $152.79 on Friday. CommVault Systems has a 1-year low of $71.75 and a 1-year high of $177.81. The firm has a market cap of $6.33 billion, a P/E ratio of 59.64 and a beta of 0.79. The business’s 50 day moving average is $143.51 and its 200-day moving average is $126.98. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 16.94.

CommVault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, July 28th. The software maker reported $1.42 EPS for the quarter, topping the consensus estimate of $1.16 by $0.26. The business had revenue of $314.13 million during the quarter, compared to the consensus estimate of $310.43 million. CommVault Systems had a return on equity of 88.75% and a net margin of 5.62%. CommVault Systems’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company earned $1.01 EPS. Equities analysts anticipate that CommVault Systems will post 2.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Gary Merrill sold 1,854 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $143.64, for a total value of $266,308.56. Following the completion of the sale, the chief financial officer directly owned 70,921 shares in the company, valued at approximately $10,187,092.44. This trade represents a 2.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 on Monday, August 10th. The shares were sold at an average price of $134.19, for a total value of $63,874.44. Following the completion of the sale, the director owned 8,696 shares of the company’s stock, valued at approximately $1,166,916.24. This trade represents a 5.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 29,348 shares of company stock valued at $4,202,441. Insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On CommVault Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVLT. GAMMA Investing LLC boosted its position in CommVault Systems by 4.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,626 shares of the software maker’s stock valued at $244,000 after buying an additional 67 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of CommVault Systems by 15.8% in the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the software maker’s stock valued at $84,000 after buying an additional 81 shares during the period. Transamerica Financial Advisors LLC acquired a new stake in shares of CommVault Systems in the 2nd quarter valued at $25,000. HighTower Advisors LLC increased its stake in shares of CommVault Systems by 6.8% in the 2nd quarter. HighTower Advisors LLC now owns 2,828 shares of the software maker’s stock valued at $401,000 after buying an additional 181 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of CommVault Systems during the second quarter worth $27,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

About CommVault Systems

Commvault Systems, Inc develops data protection and cyber resilience software and services for businesses, government organizations and other institutions. Its platform is designed to help customers back up, recover, manage and secure data across on-premises infrastructure, private and public clouds, software-as-a-service applications and other distributed IT environments.

The company’s offerings include backup and recovery, disaster recovery, data security, ransomware protection, cyber-recovery capabilities and data management tools.