CommVault Systems (NASDAQ:CVLT – Get Free Report) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday, Wall Street Zen reports.
Several other research firms have also weighed in on CVLT. Guggenheim reissued a “buy” rating on shares of CommVault Systems in a research report on Tuesday, July 28th. Oppenheimer raised their price objective on CommVault Systems from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. DA Davidson set a $175.00 target price on CommVault Systems in a research note on Wednesday, July 29th. KeyCorp upped their target price on CommVault Systems from $125.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Finally, Weiss Ratings raised shares of CommVault Systems from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $152.62.
Check Out Our Latest Stock Report on CommVault Systems
CommVault Systems Stock Performance
CommVault Systems (NASDAQ:CVLT – Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 EPS for the quarter, topping the consensus estimate of $1.16 by $0.26. The firm had revenue of $314.13 million for the quarter, compared to analysts’ expectations of $310.43 million. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. CommVault Systems’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 earnings per share. Sell-side analysts predict that CommVault Systems will post 2.84 earnings per share for the current fiscal year.
Insider Activity at CommVault Systems
In related news, 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 transaction of $63,874.44. Following the completion of the transaction, the director directly owned 8,696 shares in the company, valued at $1,166,916.24. This represents a 5.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Danielle Abrahamsen sold 486 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $142.80, for a total transaction of $69,400.80. Following the transaction, 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. 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. Over the last three months, insiders sold 29,602 shares of company stock valued at $4,240,541. 0.86% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System grew its holdings in shares of CommVault Systems by 13,810.8% in the 2nd quarter. California State Teachers Retirement System now owns 7,182,168 shares of the software maker’s stock valued at $1,017,929,000 after buying an additional 7,130,538 shares during the period. BlackRock Inc. acquired a new stake in CommVault Systems during the 2nd quarter worth $855,420,000. Pictet Asset Management Holding SA lifted its holdings in CommVault Systems by 36.2% during the first quarter. Pictet Asset Management Holding SA now owns 1,239,225 shares of the software maker’s stock worth $96,447,000 after acquiring an additional 329,243 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in CommVault Systems by 34.5% during 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 acquiring an additional 270,902 shares in the last quarter. Finally, American Capital Management Inc. grew its stake 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 valued at $42,126,000 after acquiring an additional 7,039 shares during the period. 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.
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