CommVault Systems (NASDAQ:CVLT) Stock Bumped Down to Hold by Wall Street Zen

Key Points

• Wall Street Zen downgraded CommVault Systems from “Buy” to “Hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $154.50.
• CommVault reported quarterly EPS of $1.42, exceeding estimates of $1.16, while revenue rose 11.4% year over year to $314.13 million.
• CVLT opened at $157.25, near its $178.36 one-year high; institutional investors own 93.5% of the stock, while insiders have sold approximately $4.2 million worth of shares over the past three months.

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

Several other research firms have also commented on CVLT. Weiss Ratings reaffirmed a "hold (c)" rating on shares of CommVault Systems in a research report on Friday, September 11th. Truist Financial raised their price objective on shares of CommVault Systems from $155.00 to $182.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. FBN Securities assumed coverage on shares of CommVault Systems in a research report on Thursday, September 10th. They set an "outperform" rating and a $155.00 target price for the company. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $132.00 target price on shares of CommVault Systems in a report on Monday, July 27th. Finally, Guggenheim reiterated a "buy" rating on shares of CommVault Systems in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, CommVault Systems currently has an average rating of "Moderate Buy" and an average price target of $154.50.

CommVault Systems Stock Performance

CVLT stock opened at $157.25 on Friday. The company has a market cap of $6.52 billion, a P/E ratio of 100.16 and a beta of 0.79. CommVault Systems has a 1 year low of $71.75 and a 1 year high of $178.36. The company has a debt-to-equity ratio of 16.94, a current ratio of 2.04 and a quick ratio of 2.04. The stock's fifty day moving average price is $140.89 and its 200-day moving average price is $123.43.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last posted 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 company had revenue of $314.13 million during the quarter, compared to analysts' expectations of $310.43 million. During the same quarter in the prior year, the business 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 forecast that CommVault Systems will post 2.84 earnings per share for the current year.

Insider Transactions at CommVault Systems

In other news, CAO Danielle Abrahamsen sold 486 shares of CommVault Systems stock in a transaction dated Wednesday, August 19th. The stock was 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. The trade was a 3.84% decrease in their position. The transaction was disclosed in a filing 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, Director A. Shane Sanders sold 476 shares of the business's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $134.19, for a total value of $63,874.44. Following the transaction, the director owned 8,696 shares of the company's stock, valued at approximately $1,166,916.24. This trade represents a 5.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 29,348 shares of company stock valued at $4,202,441. Company insiders own 0.86% of the company's stock.

Hedge Funds Weigh In On CommVault Systems

A number of hedge funds have recently modified their holdings of CVLT. Transamerica Financial Advisors LLC bought a new position in shares of CommVault Systems during the second quarter worth $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in CommVault Systems in the 2nd quarter valued at $27,000. Silvant Capital Management LLC bought a new stake in CommVault Systems in the 2nd quarter valued at $30,000. Northwestern Mutual Wealth Management Co. purchased a new stake in CommVault Systems in the 2nd quarter worth $53,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in CommVault Systems in the 2nd quarter worth $55,000. 93.50% of the stock is currently 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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