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

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

Several other equities research analysts have also recently commented on CVLT. Stephens cut their price target on shares of CommVault Systems from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 28th. Wells Fargo & Company cut their price target on shares of CommVault Systems from $190.00 to $155.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 28th. Piper Sandler cut their price target on shares of CommVault Systems from $186.00 to $155.00 and set an “overweight” rating on the stock in a research report on Monday, January 5th. KeyCorp cut their price target on shares of CommVault Systems from $152.00 to $108.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 28th. Finally, Oppenheimer cut their price target on shares of CommVault Systems from $180.00 to $150.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 28th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $134.86.

CommVault Systems Price Performance

Shares of NASDAQ CVLT opened at $93.63 on Monday. The firm has a market cap of $4.12 billion, a PE ratio of 48.26 and a beta of 0.63. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 4.06. CommVault Systems has a 1-year low of $71.75 and a 1-year high of $200.68. The company has a fifty day moving average price of $84.69 and a 200 day moving average price of $113.54.

CommVault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, January 27th. The software maker reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.19. CommVault Systems had a net margin of 7.58% and a return on equity of 37.38%. The firm had revenue of $313.83 million during the quarter, compared to analyst estimates of $299.07 million. During the same period in the prior year, the business earned $0.94 EPS. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. Research analysts predict that CommVault Systems will post 2.13 earnings per share for the current fiscal year.

Insider Transactions at CommVault Systems

In other news, CEO Sanjay Mirchandani sold 10,052 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $80.09, for a total value of $805,064.68. Following the sale, the chief executive officer directly owned 332,529 shares of the company’s stock, valued at approximately $26,632,247.61. This represents a 2.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary Merrill sold 1,892 shares of the company’s stock in a transaction dated 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 sale, the insider directly owned 62,833 shares in the company, valued at approximately $5,735,396.24. The trade was a 2.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 31,355 shares of company stock worth $2,613,165. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On CommVault Systems

Institutional investors and hedge funds have recently modified their holdings of the company. Federated Hermes Inc. raised its holdings in shares of CommVault Systems by 9.7% in the 3rd quarter. Federated Hermes Inc. now owns 322,053 shares of the software maker’s stock valued at $60,797,000 after purchasing an additional 28,596 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of CommVault Systems by 131.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 382,778 shares of the software maker’s stock valued at $72,261,000 after purchasing an additional 217,557 shares during the period. Emerald Advisers LLC raised its holdings in shares of CommVault Systems by 47.4% in the 3rd quarter. Emerald Advisers LLC now owns 156,894 shares of the software maker’s stock valued at $29,618,000 after purchasing an additional 50,470 shares during the period. Victory Capital Management Inc. raised its holdings in shares of CommVault Systems by 19.4% in the 3rd quarter. Victory Capital Management Inc. now owns 118,284 shares of the software maker’s stock valued at $22,330,000 after purchasing an additional 19,218 shares during the period. Finally, Strengthening Families & Communities LLC raised its holdings in shares of CommVault Systems by 2,215.4% in the 3rd quarter. Strengthening Families & Communities LLC now owns 18,037 shares of the software maker’s stock valued at $3,350,000 after purchasing an additional 17,258 shares during the period. 93.50% of the stock is owned by institutional investors.

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.