CommVault Systems (NASDAQ:CVLT – Get Free Report) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.
Other analysts have also recently issued reports about the company. UBS Group restated a “neutral” rating on shares of CommVault Systems in a research report on Monday, July 27th. Piper Sandler cut 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. Mizuho lifted their price target on shares of CommVault Systems from $140.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. Zacks Research lowered shares of CommVault Systems from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, DA Davidson set a $175.00 price objective on shares of CommVault Systems in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.47.
Read Our Latest Analysis on CommVault Systems
CommVault Systems Price Performance
CommVault Systems (NASDAQ:CVLT – Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $314.13 million for the quarter, compared to analyst estimates of $310.43 million. During the same period in the previous year, the company posted $1.01 earnings per share. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, research analysts forecast that CommVault Systems will post 2.84 EPS for the current year.
Insiders Place Their Bets
In other news, CAO Danielle Nicole Abrahamsen sold 1,065 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $105.84, for a total value of $112,719.60. Following the sale, the chief accounting officer owned 13,581 shares of the company’s stock, valued at approximately $1,437,413.04. This represents a 7.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 4,560 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $105.10, for a total transaction of $479,256.00. Following the completion of the sale, the chief financial officer directly owned 72,507 shares in the company, valued at approximately $7,620,485.70. The trade was a 5.92% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 55,279 shares of company stock worth $5,786,557 over the last three months. 0.86% of the stock is currently owned by corporate insiders.
Institutional Trading of CommVault Systems
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in CommVault Systems by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 5,675,590 shares of the software maker’s stock worth $711,492,000 after acquiring an additional 240,093 shares during the last quarter. First Trust Advisors LP increased its holdings in CommVault Systems by 25.5% during the 4th quarter. First Trust Advisors LP now owns 1,537,034 shares of the software maker’s stock valued at $192,683,000 after purchasing an additional 312,178 shares in the last quarter. Pictet Asset Management Holding SA raised its position in CommVault Systems by 36.2% in the 1st 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 during the last quarter. Westfield Capital Management Co. LP raised its position in CommVault Systems by 34.5% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,057,077 shares of the software maker’s stock valued at $132,515,000 after purchasing an additional 270,902 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in CommVault Systems by 60.8% in the second quarter. AQR Capital Management LLC now owns 893,385 shares of the software maker’s stock worth $155,744,000 after purchasing an additional 337,830 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.
About CommVault Systems
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.
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