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

Key Points

• Wall Street Zen upgraded CommVault Systems (CVLT) from "hold" to buy, while the stock's consensus rating remains a Moderate Buy with an average price target of $135.00.
• CommVault beat expectations for the quarter with EPS $1.28 vs. $1.09 expected and revenue of $311.7 million, up 13.3% year-over-year, and analysts forecast about 2.72 EPS for the fiscal year.
• Company insiders have been selling recently (CEO sold 10,338 shares; insiders sold 31,355 shares worth ~$2.6M over 90 days), while institutional investors own roughly 93.5% of the stock.

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

Several other equities analysts have also recently weighed in on CVLT. Cantor Fitzgerald decreased their target price on shares of CommVault Systems from $144.00 to $100.00 and set a "neutral" rating for the company in a research note on Wednesday, January 28th. Loop Capital started coverage on shares of CommVault Systems in a research note on Tuesday, March 24th. They issued a "buy" rating and a $125.00 target price for the company. Piper Sandler decreased their target price on shares of CommVault Systems from $186.00 to $155.00 and set an "overweight" rating for the company in a research note on Monday, January 5th. William Blair reissued a "market perform" rating on shares of CommVault Systems in a research note on Monday, March 23rd. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of CommVault Systems in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $135.00.

CommVault Systems Price Performance

NASDAQ:CVLT opened at $99.57 on Friday. CommVault Systems has a 1-year low of $71.75 and a 1-year high of $200.68. The company has a current ratio of 1.95, a quick ratio of 2.34 and a debt-to-equity ratio of 117.54. The firm has a fifty day simple moving average of $85.57 and a 200 day simple moving average of $110.54. The stock has a market capitalization of $4.38 billion, a PE ratio of 62.62 and a beta of 0.77.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last released its earnings results on Tuesday, April 28th. The software maker reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.19. CommVault Systems had a net margin of 5.97% and a return on equity of 51.64%. The business had revenue of $311.69 million during the quarter, compared to analysts' expectations of $306.71 million. During the same period last year, the business earned $1.03 earnings per share. The firm's revenue was up 13.3% on a year-over-year basis. On average, research analysts expect that CommVault Systems will post 2.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other CommVault Systems news, CEO Sanjay Mirchandani sold 10,338 shares of CommVault Systems stock in a transaction on Monday, March 16th. The shares were sold at an average price of $78.96, for a total transaction of $816,288.48. Following the completion of the transaction, the chief executive officer directly owned 342,581 shares of the company's stock, valued at $27,050,195.76. The trade was a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gary Merrill sold 2,593 shares of CommVault Systems stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $90.28, for a total transaction of $234,096.04. Following the transaction, the insider directly owned 64,725 shares of the company's stock, valued at approximately $5,843,373. This trade represents a 3.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 31,355 shares of company stock valued at $2,613,165. Company insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On CommVault Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming bought a new position in CommVault Systems during the second quarter worth $35,000. FNY Investment Advisers LLC bought a new stake in shares of CommVault Systems in the fourth quarter valued at about $36,000. Banque Cantonale Vaudoise bought a new stake in shares of CommVault Systems in the third quarter valued at about $39,000. Assetmark Inc. boosted its position in shares of CommVault Systems by 33.6% in the fourth quarter. Assetmark Inc. now owns 326 shares of the software maker's stock valued at $41,000 after acquiring an additional 82 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its position in shares of CommVault Systems by 43.8% in the third quarter. Cullen Frost Bankers Inc. now owns 243 shares of the software maker's stock valued at $46,000 after acquiring an additional 74 shares during the period. 93.50% of the stock is owned by institutional investors.

About CommVault Systems

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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