Wall Street Zen downgraded shares of CommVault Systems (NASDAQ:CVLT – Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.
Several other research firms have also recently commented on CVLT. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CommVault Systems in a report on Friday, September 11th. Truist Financial lifted their price objective on CommVault Systems from $155.00 to $182.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Stephens boosted their price objective on CommVault Systems from $135.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, June 16th. Cantor Fitzgerald restated a “neutral” rating and issued a $132.00 target price on shares of CommVault Systems in a research note on Monday, July 27th. Finally, FBN Securities started coverage on CommVault Systems in a research report on Thursday, September 10th. They issued an “outperform” rating and a $155.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $154.50.
View Our Latest Stock Report on CommVault Systems
CommVault Systems Price Performance
CommVault Systems (NASDAQ:CVLT – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.26. The company had revenue of $314.13 million for the quarter, compared to the consensus estimate of $310.43 million. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The business’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 EPS. Analysts expect that CommVault Systems will post 2.84 EPS for the current year.
Insider Buying and Selling at CommVault Systems
In related news, CAO Danielle Abrahamsen sold 486 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total value of $69,400.80. Following the sale, the chief accounting officer owned 12,160 shares of the company’s stock, valued at $1,736,448. The trade was a 3.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 on 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 in the company, valued at $10,187,092.44. This trade represents a 2.55% decrease in their ownership of the stock. 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 have sold 29,348 shares of company stock worth $4,202,441 over the last three months. 0.86% of the stock is currently owned by insiders.
Hedge Funds Weigh In On CommVault Systems
Several institutional investors have recently added to or reduced their stakes in CVLT. GAMMA Investing LLC grew its stake in CommVault Systems by 4.3% during the third quarter. GAMMA Investing LLC now owns 1,626 shares of the software maker’s stock worth $244,000 after buying an additional 67 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in CommVault Systems during the 2nd quarter worth approximately $537,000. Tidal Investments LLC increased its holdings in CommVault Systems by 38.3% during the 2nd quarter. Tidal Investments LLC now owns 59,661 shares of the software maker’s stock valued at $8,456,000 after purchasing an additional 16,523 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in CommVault Systems in the 2nd quarter valued at $371,000. Finally, NewEdge Advisors LLC acquired a new position in CommVault Systems in the second quarter worth $215,000. 93.50% of the stock is owned by institutional investors.
CommVault Systems Company Profile
Commvault Systems, Inc develops data protection, cyber resilience and information management software and services. Its platform helps organizations back up, recover, manage and secure data across on-premises data centers, public and private clouds, software-as-a-service applications and endpoint environments.
The company’s offerings include backup and recovery, disaster recovery, cyber-recovery capabilities, ransomware protection, data governance and workload management. Commvault also provides cloud-based services through its Commvault Cloud platform, designed to help customers detect threats, protect critical workloads and restore operations following data loss or cyberattacks.
Commvault serves businesses, government organizations and other institutions worldwide through direct sales, partners and service providers.
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