CommVault Systems (NASDAQ:CVLT) Now Covered by Analysts at Scotiabank

Key Points

• Scotiabank initiated coverage with a "sector perform" rating and a $105 price target, implying about a 9.49% upside from the prior close.
• CommVault beat quarterly expectations with $1.17 EPS vs. $0.98 consensus and revenue of $313.8M, up 19.5% year‑over‑year.
• Analysts' consensus is a Moderate Buy (2 Strong Buy, 10 Buy, 5 Hold) with an average price target of $134.86, substantially higher than Scotiabank's target.

Investment analysts at Scotiabank assumed coverage on shares of CommVault Systems (NASDAQ:CVLT - Get Free Report) in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm set a "sector perform" rating and a $105.00 price target on the software maker's stock. Scotiabank's price target suggests a potential upside of 9.49% from the stock's previous close.

A number of other equities research analysts have also commented on the stock. Weiss Ratings restated a "hold (c)" rating on shares of CommVault Systems in a report on Wednesday, January 21st. Mizuho dropped their price objective on shares of CommVault Systems from $180.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, January 28th. Oppenheimer dropped their price objective on shares of CommVault Systems from $180.00 to $150.00 and set an "outperform" rating on the stock in a report on Wednesday, January 28th. Wells Fargo & Company dropped their price objective on shares of CommVault Systems from $190.00 to $155.00 and set an "overweight" rating on the stock in a report on Wednesday, January 28th. Finally, Wall Street Zen lowered shares of CommVault Systems from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, CommVault Systems currently has an average rating of "Moderate Buy" and an average price target of $134.86.

CommVault Systems Trading Up 1.8%

Shares of NASDAQ CVLT opened at $95.90 on Tuesday. The company's fifty day moving average is $84.57 and its 200-day moving average is $114.15. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 49.43 and a beta of 0.63. CommVault Systems has a twelve month low of $71.75 and a twelve month high of $200.68. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 4.06.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last issued its quarterly earnings data on Tuesday, January 27th. The software maker reported $1.17 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.19. CommVault Systems had a net margin of 7.58% and a return on equity of 37.38%. The business had revenue of $313.83 million for the quarter, compared to analyst estimates of $299.07 million. During the same period last year, the business posted $0.94 earnings per share. The firm's quarterly revenue was up 19.5% on a year-over-year basis. Equities research analysts predict that CommVault Systems will post 2.13 EPS for the current year.

Insider Buying and Selling at CommVault Systems

In other CommVault Systems news, CEO Sanjay Mirchandani sold 10,052 shares of CommVault Systems stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $80.09, for a total value of $805,064.68. Following the sale, the chief executive officer directly owned 332,529 shares in the company, valued at approximately $26,632,247.61. The trade was a 2.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Merrill sold 1,892 shares of CommVault Systems stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $91.28, for a total transaction of $172,701.76. Following the completion of the sale, the insider owned 62,833 shares in the company, valued at $5,735,396.24. The trade was a 2.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 31,355 shares of company stock worth $2,613,165 over the last quarter. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On CommVault Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL acquired a new stake in CommVault Systems in the 3rd quarter valued at $1,887,800,000. Vanguard Group Inc. grew its position in shares of CommVault Systems by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 5,675,590 shares of the software maker's stock valued at $711,492,000 after acquiring an additional 240,093 shares during the period. First Trust Advisors LP grew its position in shares of CommVault Systems by 25.5% in the 4th 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. Westfield Capital Management Co. LP grew its position in shares of CommVault Systems by 34.5% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,057,077 shares of the software maker's stock valued at $132,515,000 after acquiring an additional 270,902 shares during the period. Finally, Pictet Asset Management Holding SA grew its position in shares of CommVault Systems by 17.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 909,982 shares of the software maker's stock valued at $114,124,000 after acquiring an additional 138,091 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

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.

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