Wall Street Zen upgraded shares of CommVault Systems (NASDAQ:CVLT – Free Report) from a hold rating to a buy rating in a research report report published on Sunday.
Other research analysts have also recently issued reports about the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $130.00 target price on shares of CommVault Systems in a report on Wednesday, July 29th. Truist Financial boosted their price target on CommVault Systems from $155.00 to $182.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Scotiabank reissued a “sector perform” rating and set a $130.00 price target on shares of CommVault Systems in a research report on Wednesday, July 29th. Zacks Research lowered CommVault Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Mizuho lifted their price objective 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, nine have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $152.47.
View Our Latest Stock Analysis on CVLT
CommVault Systems Stock Up 0.0%
CommVault Systems (NASDAQ:CVLT – Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.26. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The business had revenue of $314.13 million for the quarter, compared to analyst estimates of $310.43 million. During the same period last year, the firm earned $1.01 earnings per share. CommVault Systems’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities analysts expect that CommVault Systems will post 2.84 EPS for the current year.
Insider Transactions at CommVault Systems
In related news, CEO Sanjay Mirchandani sold 12,437 shares of the firm’s 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 transaction, the chief executive officer directly owned 269,373 shares of the company’s stock, valued at $38,784,324.54. This trade represents a 4.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 sale, the chief financial officer owned 70,921 shares in the company, valued at approximately $10,187,092.44. The trade was a 2.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last ninety days, insiders sold 29,602 shares of company stock valued at $4,240,541. 0.86% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On CommVault Systems
A number of hedge funds have recently added to or reduced their stakes in the stock. Transamerica Financial Advisors LLC bought a new position in shares of CommVault Systems in the second quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in CommVault Systems in the second quarter worth $27,000. Silvant Capital Management LLC bought a new position in CommVault Systems in the 2nd quarter valued at $30,000. State of Wyoming purchased a new position in shares of CommVault Systems in the 2nd quarter worth about $35,000. Finally, Essential Partners LLC grew its position in CommVault Systems by 9,920.0% during the first quarter. Essential Partners LLC now owns 501 shares of the software maker’s stock valued at $39,000 after buying an additional 496 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.
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.
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