CommVault Systems (NASDAQ:CVLT) Stock Bumped Up to "Buy" by Wall Street Zen

Key Points

• Wall Street Zen upgraded CommVault Systems to “Buy” from “Hold.” Overall, analysts maintain a “Moderate Buy” consensus with an average price target of $158.25.
• CommVault shares opened at $149.11 after reportedly falling 6.2%; the stock has traded between $71.75 and $177.81 over the past year.
• The company recently exceeded quarterly expectations, reporting $1.42 in EPS versus the $1.16 consensus and $314.13 million in revenue, up 11.4% year over year.

CommVault Systems (NASDAQ:CVLT - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

CVLT has been the topic of several other research reports. Cantor Fitzgerald restated a "neutral" rating and set a $132.00 target price on shares of CommVault Systems in a research report on Monday, July 27th. Jefferies Financial Group reaffirmed a "hold" rating and set a $130.00 target price on shares of CommVault Systems in a research note on Wednesday, July 29th. Piper Sandler downgraded CommVault Systems from an "overweight" rating to a "neutral" rating and set a $133.00 target price for the company. in a report on Tuesday, July 28th. Royal Bank Of Canada boosted their price target on CommVault Systems from $150.00 to $160.00 and gave the company a "sector perform" rating in a research note on Monday, October 12th. Finally, FBN Securities began coverage on CommVault Systems in a research note on Thursday, September 10th. They issued an "outperform" rating and a $155.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $158.25.

CommVault Systems Trading Down 6.2%

Shares of NASDAQ:CVLT opened at $149.11 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 16.94. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 94.97 and a beta of 0.79. The company's fifty day simple moving average is $143.24 and its 200 day simple moving average is $126.09. CommVault Systems has a 12 month low of $71.75 and a 12 month high of $177.81.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share for the quarter, topping 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 firm had revenue of $314.13 million during the quarter, compared to the consensus estimate of $310.43 million. During the same period last year, the business posted $1.01 EPS. The business's revenue was up 11.4% compared to the same quarter last year. As a group, research analysts forecast that CommVault Systems will post 2.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Danielle Abrahamsen sold 486 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total transaction of $69,400.80. Following the completion of the sale, the chief accounting officer owned 12,160 shares in the company, valued at $1,736,448. The trade was a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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, Director Vivie Lee sold 595 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 value of $79,843.05. Following the transaction, the director directly owned 15,140 shares in the company, valued at $2,031,636.60. The trade was a 3.78% 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. In the last quarter, insiders have sold 29,348 shares of company stock valued at $4,202,441. 0.86% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CommVault Systems

A number of large investors have recently modified their holdings of the company. Transamerica Financial Advisors LLC bought a new stake in CommVault Systems during the 2nd quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of CommVault Systems in the second quarter valued at $27,000. Silvant Capital Management LLC bought a new position in shares of CommVault Systems in the second quarter valued at $30,000. Essential Partners LLC lifted its stake in shares of CommVault Systems by 9,920.0% in the first quarter. Essential Partners LLC now owns 501 shares of the software maker's stock valued at $39,000 after buying an additional 496 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of CommVault Systems during the second quarter valued at about $53,000. 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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