CommVault Systems (NASDAQ:CVLT) Upgraded to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded CommVault Systems to “Buy” from “Hold.” Overall analyst sentiment is “Moderate Buy,” with an average price target of $152.62.
• CommVault reported quarterly EPS of $1.42, beating estimates by $0.26, while revenue reached $314.13 million and increased 11.4% year over year.
• Shares opened at $130.07, with a 12-month range of $71.75 to $198.18. Institutional investors own 93.5% of the company, while insiders sold approximately $4.24 million of stock during the last quarter.

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.

Other research analysts have also recently issued reports about the stock. Mizuho boosted their target price on shares of CommVault Systems from $140.00 to $175.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 15th. Piper Sandler lowered shares of CommVault Systems from an "overweight" rating to a "neutral" rating and set a $133.00 price target for the company. in a report on Tuesday, July 28th. DA Davidson set a $175.00 price target on shares of CommVault Systems in a research note on Wednesday, July 29th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $132.00 price objective on shares of CommVault Systems in a report on Monday, July 27th. Finally, Oppenheimer upped their price objective on shares of CommVault Systems from $150.00 to $175.00 and gave the company an "outperform" rating in a research report on Friday, July 17th. One investment 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $152.62.

CommVault Systems Stock Performance

Shares of CommVault Systems stock opened at $130.07 on Friday. 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 has a 12 month low of $71.75 and a 12 month high of $198.18. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 82.85 and a beta of 0.82. The firm's fifty day simple moving average is $138.21 and its 200-day simple moving average is $114.39.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last announced 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. The business had revenue of $314.13 million for the quarter, compared to the consensus estimate of $310.43 million. CommVault Systems had a return on equity of 88.75% and a net margin of 5.62%.The company's revenue was up 11.4% on a year-over-year basis. During the same period last year, the business posted $1.01 EPS. As a group, equities analysts forecast that CommVault Systems will post 2.84 earnings per share for the current year.

Insider Buying and Selling at CommVault Systems

In other CommVault Systems news, CAO Danielle Abrahamsen sold 486 shares of the firm's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $142.80, for a total value of $69,400.80. Following the transaction, the chief accounting officer owned 12,160 shares of the company's stock, valued at $1,736,448. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 CommVault Systems 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 completion of the transaction, the director owned 8,696 shares of the company's stock, valued at approximately $1,166,916.24. The trade was a 5.19% 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. Over the last quarter, insiders have sold 29,602 shares of company stock worth $4,240,541. 0.86% of the stock is owned by company insiders.

Institutional Trading of CommVault Systems

Several hedge funds have recently made changes to their positions in CVLT. California State Teachers Retirement System grew its stake in CommVault Systems by 13,810.8% during the 2nd quarter. California State Teachers Retirement System now owns 7,182,168 shares of the software maker's stock worth $1,017,929,000 after buying an additional 7,130,538 shares during the last quarter. BlackRock Inc. bought a new stake in CommVault Systems in the second quarter valued at $855,420,000. First Trust Advisors LP boosted its holdings in shares of CommVault Systems by 25.5% during the fourth quarter. First Trust Advisors LP now owns 1,537,034 shares of the software maker's stock valued at $192,683,000 after acquiring an additional 312,178 shares during the period. Pictet Asset Management Holding SA grew its position in shares of 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 during the last quarter. Finally, Westfield Capital Management Co. LP grew its position in shares of 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 during the last quarter. Institutional investors own 93.50% of the company's stock.

CommVault Systems Company Profile

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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