CommVault Systems (NASDAQ:CVLT) Rating Lowered to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded CommVault Systems from “buy” to “hold,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $152.47.
• CommVault reported stronger-than-expected quarterly results, with EPS of $1.42 versus the $1.16 consensus estimate and revenue of $314.13 million, up 11.4% year over year.
• CVLT shares opened at $136.40, while insiders sold $4.24 million worth of stock over the past 90 days; institutional investors own 93.5% of the company.

CommVault Systems (NASDAQ:CVLT - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

A number of other equities analysts have also weighed in on CVLT. DA Davidson set a $175.00 price target on CommVault Systems in a research report on Wednesday, July 29th. Scotiabank reaffirmed a "sector perform" rating and set a $130.00 price objective on shares of CommVault Systems in a research note on Wednesday, July 29th. UBS Group reiterated a "neutral" rating on shares of CommVault Systems in a report on Monday, July 27th. Cantor Fitzgerald reissued a "neutral" rating and issued a $132.00 target price on shares of CommVault Systems in a research report on Monday, July 27th. Finally, Jefferies Financial Group restated a "hold" rating and set a $130.00 price target on shares of CommVault Systems in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $152.47.

CommVault Systems Stock Performance

Shares of CVLT stock opened at $136.40 on Friday. CommVault Systems has a 12-month low of $71.75 and a 12-month high of $198.18. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of 86.88 and a beta of 0.82. The business has a 50 day simple moving average of $139.60 and a 200 day simple moving average of $112.90. The company has a debt-to-equity ratio of 16.94, a current ratio of 2.04 and a quick ratio of 2.04.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last released its earnings results on Tuesday, July 28th. The software maker reported $1.42 EPS for the quarter, beating the consensus estimate of $1.16 by $0.26. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The firm had revenue of $314.13 million for the quarter, compared to analysts' expectations of $310.43 million. During the same quarter last year, the company earned $1.01 EPS. CommVault Systems's quarterly revenue was up 11.4% on a year-over-year basis. On average, equities research analysts anticipate that CommVault Systems will post 2.84 EPS for the current year.

Insider Buying and Selling at CommVault Systems

In other CommVault Systems news, Director A. Shane Sanders sold 476 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $134.19, for a total transaction of $63,874.44. Following the completion of the sale, the director owned 8,696 shares of the company's stock, valued at $1,166,916.24. This represents a 5.19% decrease in their ownership of the stock. The sale 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. Also, CFO Gary Merrill sold 1,854 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer owned 70,921 shares in the company, valued at approximately $10,187,092.44. This trade represents 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. Insiders have sold a total of 29,602 shares of company stock worth $4,240,541 in the last 90 days. Company insiders own 0.86% of the company's stock.

Hedge Funds Weigh In On CommVault Systems

Institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc increased its position in CommVault Systems by 15.8% in the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the software maker's stock worth $84,000 after buying an additional 81 shares during the period. Captrust Financial Advisors increased its holdings in CommVault Systems by 7.2% in the 4th quarter. Captrust Financial Advisors now owns 2,153 shares of the software maker's stock valued at $270,000 after buying an additional 145 shares during the period. MML Investors Services LLC raised its stake in shares of CommVault Systems by 6.7% in the 4th quarter. MML Investors Services LLC now owns 2,361 shares of the software maker's stock valued at $296,000 after buying an additional 149 shares in the last quarter. Madison Asset Management LLC raised its stake in shares of CommVault Systems by 0.6% in the 4th quarter. Madison Asset Management LLC now owns 23,947 shares of the software maker's stock valued at $3,002,000 after buying an additional 153 shares in the last quarter. Finally, Benjamin Edwards Inc. lifted its holdings in shares of CommVault Systems by 9.6% during the 4th quarter. Benjamin Edwards Inc. now owns 1,852 shares of the software maker's stock worth $232,000 after acquiring an additional 162 shares during the period. 93.50% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source