CommVault Systems (NASDAQ:CVLT) Upgraded at Wall Street Zen

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

A number of other brokerages have also weighed in on CVLT. Truist Financial raised their price target on shares of CommVault Systems from $155.00 to $182.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Oppenheimer increased their price objective on CommVault Systems from $150.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Cantor Fitzgerald reissued a “neutral” rating and issued a $132.00 target price on shares of CommVault Systems in a research note on Monday, July 27th. Mizuho lifted their target price on CommVault Systems from $140.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Finally, UBS Group restated a “neutral” rating on shares of CommVault Systems in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, CommVault Systems has a consensus rating of “Moderate Buy” and a consensus target price of $152.62.

CommVault Systems Stock Up 2.2%

Shares of NASDAQ:CVLT opened at $143.30 on Friday. CommVault Systems has a 12 month low of $71.75 and a 12 month high of $198.18. The company’s 50-day moving average price is $137.80 and its two-hundred day moving average price is $115.36. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 16.94. The firm has a market cap of $5.94 billion, a P/E ratio of 91.27 and a beta of 0.82.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.26. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The firm had revenue of $314.13 million during the quarter, compared to analysts’ expectations of $310.43 million. During the same quarter last year, the company posted $1.01 EPS. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, research analysts forecast that CommVault Systems will post 2.84 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Sanjay Mirchandani sold 12,437 shares of CommVault Systems stock in a transaction on Monday, August 17th. The stock was sold at an average price of $143.98, for a total transaction of $1,790,679.26. Following the completion of the sale, the chief executive officer directly owned 269,373 shares of the company’s stock, valued at $38,784,324.54. The trade was a 4.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, CFO Gary Merrill sold 1,854 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were 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 owned 70,921 shares of the company’s stock, valued at $10,187,092.44. This represents a 2.55% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders sold 29,602 shares of company stock worth $4,240,541 over the last three months. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On CommVault Systems

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in CommVault Systems during the 2nd quarter worth approximately $855,420,000. Pictet Asset Management Holding SA increased its stake in CommVault Systems by 36.2% in the first quarter. Pictet Asset Management Holding SA now owns 1,239,225 shares of the software maker’s stock valued at $96,447,000 after purchasing an additional 329,243 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in CommVault Systems by 34.5% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,057,077 shares of the software maker’s stock worth $132,515,000 after purchasing an additional 270,902 shares during the period. American Capital Management Inc. raised its holdings in CommVault Systems by 1.3% in the first quarter. American Capital Management Inc. now owns 540,845 shares of the software maker’s stock worth $42,126,000 after purchasing an additional 7,039 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in CommVault Systems in the second quarter worth $65,765,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

About CommVault Systems

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.