CommVault Systems (NASDAQ:CVLT) Trading 6.2% Higher – Time to Buy?

CommVault Systems, Inc. (NASDAQ:CVLT)’s share price rose 6.2% during trading on Monday . The company traded as high as $136.67 and last traded at $138.1630. 101,608 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 889,434 shares. The stock had previously closed at $130.07.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. FBN Securities initiated coverage on shares of CommVault Systems in a research note on Thursday. They set an “outperform” rating and a $155.00 target price for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $132.00 price objective on shares of CommVault Systems in a research note on Monday, July 27th. Stephens increased their price objective on CommVault Systems from $135.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 16th. KeyCorp lifted their target price on CommVault Systems from $125.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Finally, Mizuho boosted their target price on CommVault Systems from $140.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $152.62.

CommVault Systems Stock Up 6.3%

The company has a market cap of $5.73 billion, a PE ratio of 88.36 and a beta of 0.82. The firm has a 50-day simple moving average of $138.21 and a two-hundred day simple moving average of $114.60. The company has a debt-to-equity ratio of 16.94, a current ratio of 2.04 and a quick ratio of 2.04.

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

Insider Activity

In other CommVault Systems news, CEO Sanjay Mirchandani sold 6,857 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total value of $979,179.60. Following the completion of the transaction, the chief executive officer directly owned 257,676 shares in the company, valued at approximately $36,796,132.80. The trade was a 2.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 company’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 transaction, the director owned 8,696 shares of the company’s stock, valued at $1,166,916.24. The trade was a 5.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 29,602 shares of company stock valued at $4,240,541 in the last 90 days. Insiders own 0.86% of the company’s stock.

Institutional Trading of CommVault Systems

Several large investors have recently added to or reduced their stakes in CVLT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of CommVault Systems by 8.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,410 shares of the software maker’s stock valued at $23,255,000 after buying an additional 11,700 shares during the period. Sivia Capital Partners LLC acquired a new position in CommVault Systems in the second quarter worth about $327,000. Cetera Investment Advisers increased its holdings in shares of CommVault Systems by 13.4% in the 2nd quarter. Cetera Investment Advisers now owns 2,486 shares of the software maker’s stock valued at $433,000 after acquiring an additional 294 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of CommVault Systems by 188.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock worth $47,000 after buying an additional 177 shares during the last quarter. Finally, Guggenheim Capital LLC grew its holdings in shares of CommVault Systems by 43.8% during the second quarter. Guggenheim Capital LLC now owns 4,245 shares of the software maker’s stock valued at $740,000 after purchasing an additional 1,293 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

CommVault Systems Company Profile

Commvault Systems, Inc develops data protection and cyber resilience software for organizations seeking to secure, manage and recover data across on-premises, cloud and hybrid environments. Its technology is designed to help businesses protect workloads, reduce the risk of data loss and maintain operations following system failures, cyberattacks or other disruptions.

The company’s offerings include backup and recovery, disaster recovery, data security, cyber recovery and cloud data management solutions.