CommVault Systems (NASDAQ:CVLT) Coverage Initiated at Wolfe Research

Key Points

• Wolfe Research initiated coverage on CommVault with a "peer perform" rating, while the consensus among analysts is a Moderate Buy with an average price target of $135.00.
• The company recently reported an earnings beat—EPS $1.28 vs $1.09 expected and revenue $311.7M (up 13.3% year-over-year)—but the stock trades at a high PE of 62.19 and opened around $98.88 on the day of the report.
• There has been notable insider selling (including the CEO) with 31,355 shares sold over 90 days; insiders own 1.0% of the stock while institutional investors hold about 93.5%.

Analysts at Wolfe Research began coverage on shares of CommVault Systems (NASDAQ:CVLT - Get Free Report) in a research report issued on Friday. The firm set a "peer perform" rating on the software maker's stock.

A number of other equities research analysts also recently commented on CVLT. Royal Bank Of Canada raised their target price on CommVault Systems from $100.00 to $110.00 and gave the company a "sector perform" rating in a report on Wednesday. William Blair reiterated a "market perform" rating on shares of CommVault Systems in a research note on Monday, March 23rd. Piper Sandler decreased their price objective on shares of CommVault Systems from $186.00 to $155.00 and set an "overweight" rating on the stock in a report on Monday, January 5th. KeyCorp upped their target price on shares of CommVault Systems from $108.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Zacks Research raised shares of CommVault Systems from a "hold" rating to a "strong-buy" rating in a report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $135.00.

CommVault Systems Price Performance

CommVault Systems stock opened at $98.88 on Friday. The company has a debt-to-equity ratio of 117.54, a current ratio of 1.95 and a quick ratio of 2.34. The business has a 50 day simple moving average of $85.57 and a 200-day simple moving average of $110.54. CommVault Systems has a 12 month low of $71.75 and a 12 month high of $200.68. The stock has a market capitalization of $4.35 billion, a PE ratio of 62.19 and a beta of 0.63.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The software maker reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.19. The company had revenue of $311.69 million for the quarter, compared to analysts' expectations of $306.71 million. CommVault Systems had a net margin of 5.97% and a return on equity of 51.64%. CommVault Systems's revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 EPS. Equities analysts predict that CommVault Systems will post 2.72 earnings per share for the current year.

Insider Buying and Selling

In other CommVault Systems news, insider Gary Merrill sold 1,892 shares of the company's stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $91.28, for a total transaction of $172,701.76. Following the completion of the sale, the insider directly owned 62,833 shares in the company, valued at $5,735,396.24. This represents a 2.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sanjay Mirchandani sold 10,052 shares of the firm's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $80.09, for a total value of $805,064.68. Following the completion of the transaction, the chief executive officer owned 332,529 shares in the company, valued at approximately $26,632,247.61. This trade represents a 2.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 31,355 shares of company stock valued at $2,613,165. 1.00% of the stock is owned by insiders.

Institutional Trading of CommVault Systems

Institutional investors and hedge funds have recently bought and sold shares of the business. Tudor Investment Corp ET AL purchased a new stake in CommVault Systems during the third quarter worth approximately $1,887,800,000. First Trust Advisors LP lifted its holdings in shares of CommVault Systems by 1,335.8% during the 3rd quarter. First Trust Advisors LP now owns 1,224,856 shares of the software maker's stock valued at $231,228,000 after acquiring an additional 1,139,547 shares in the last quarter. M&T Bank Corp boosted its position in CommVault Systems by 22,133.9% during the 4th quarter. M&T Bank Corp now owns 610,098 shares of the software maker's stock worth $76,482,000 after purchasing an additional 607,354 shares during the period. Westfield Capital Management Co. LP increased its holdings in CommVault Systems by 135.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 786,175 shares of the software maker's stock valued at $148,414,000 after purchasing an additional 452,422 shares in the last quarter. Finally, TD Asset Management Inc raised its position in CommVault Systems by 14,047.5% in the fourth quarter. TD Asset Management Inc now owns 381,982 shares of the software maker's stock valued at $47,885,000 after purchasing an additional 379,282 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

CommVault Systems Company Profile

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.