Wall Street Zen downgraded shares of CommVault Systems (NASDAQ:CVLT – Free Report) from a buy rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.
CVLT has been the topic of several other research reports. UBS Group reiterated a “neutral” rating on shares of CommVault Systems in a report on Monday, July 27th. Mizuho boosted their price objective 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. Oppenheimer upped their price objective on shares of CommVault Systems from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Scotiabank reiterated a “sector perform” rating and issued a $130.00 target price on shares of CommVault Systems in a research note on Wednesday, July 29th. Finally, Guggenheim reiterated a “buy” rating on shares of CommVault Systems in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $152.47.
Get Our Latest Analysis on CVLT
CommVault Systems Price Performance
CommVault Systems (NASDAQ:CVLT – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.42 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $310.43 million. During the same quarter in the prior year, the firm posted $1.01 EPS. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities research analysts predict that CommVault Systems will post 2.84 EPS for the current fiscal year.
Insiders Place Their Bets
In other CommVault Systems news, CAO Danielle Abrahamsen sold 486 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $142.80, for a total value of $69,400.80. Following the completion of the sale, the chief accounting officer directly owned 12,160 shares of the company’s stock, valued at $1,736,448. This represents a 3.84% decrease in their position. 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 1,293 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $142.80, for a total transaction of $184,640.40. Following the completion of the sale, the chief financial officer directly owned 69,628 shares of the company’s stock, valued at approximately $9,942,878.40. This trade represents a 1.82% decrease in their ownership of the stock. 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. Insiders have sold a total of 29,602 shares of company stock valued at $4,240,541 in the last 90 days. 0.86% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in CommVault Systems by 8.6% during the first 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 acquiring an additional 11,700 shares during the period. Sivia Capital Partners LLC acquired a new position in CommVault Systems in the 2nd quarter valued at approximately $327,000. Cetera Investment Advisers lifted its position 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 worth $433,000 after acquiring an additional 294 shares during the period. 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 acquiring an additional 177 shares during the period. Finally, Guggenheim Capital LLC grew its holdings in shares of CommVault Systems by 43.8% during the 2nd quarter. Guggenheim Capital LLC now owns 4,245 shares of the software maker’s stock worth $740,000 after purchasing an additional 1,293 shares in the last quarter. 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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