CommVault Systems (NASDAQ:CVLT) Rating Increased to Hold at Scotiabank

Key Points

• Scotiabank upgraded CommVault Systems (CVLT) to a "hold" rating; the stock's consensus remains a Moderate Buy with a $134.86 average target despite several recent price-target cuts by other firms.
• CommVault beat quarterly expectations with $1.17 EPS and $313.8M revenue (up 19.5% YoY); the stock trades near $93.63 with a 52-week range of $71.75–$200.68, a PE of 48.3 and a $4.12B market cap.
• Insiders sold 31,355 shares (~$2.61M) in the last quarter, including CEO Sanjay Mirchandani, while institutional investors hold about 93.5% of the company.

CommVault Systems (NASDAQ:CVLT - Get Free Report) was upgraded by investment analysts at Scotiabank to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Several other research firms have also recently weighed in on CVLT. Zacks Research upgraded shares of CommVault Systems from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 30th. Oppenheimer dropped their price objective on shares of CommVault Systems from $180.00 to $150.00 and set an "outperform" rating for the company in a research report on Wednesday, January 28th. Stephens dropped their price objective on shares of CommVault Systems from $162.00 to $135.00 and set an "overweight" rating for the company in a research report on Wednesday, January 28th. William Blair restated a "market perform" rating on shares of CommVault Systems in a research report on Monday, March 23rd. Finally, Robert W. Baird dropped their price objective on shares of CommVault Systems from $185.00 to $160.00 and set an "outperform" rating for the company in a research report on Monday, April 13th. 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 MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $134.86.

CommVault Systems Stock Performance

CVLT stock opened at $93.63 on Monday. The company has a debt-to-equity ratio of 4.06, a current ratio of 2.34 and a quick ratio of 2.34. The company has a 50 day moving average price of $84.69 and a 200 day moving average price of $113.54. CommVault Systems has a fifty-two week low of $71.75 and a fifty-two week high of $200.68. The stock has a market capitalization of $4.12 billion, a PE ratio of 48.26 and a beta of 0.63.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last posted its quarterly earnings data on Tuesday, January 27th. The software maker reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.19. CommVault Systems had a net margin of 7.58% and a return on equity of 37.38%. The firm had revenue of $313.83 million during the quarter, compared to analysts' expectations of $299.07 million. During the same quarter in the previous year, the company posted $0.94 EPS. CommVault Systems's revenue was up 19.5% on a year-over-year basis. Analysts forecast 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 the company's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $80.09, for a total transaction of $805,064.68. Following the completion of the sale, the chief executive officer 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 legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gary Merrill sold 1,892 shares of the business's 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 transaction, the insider directly owned 62,833 shares of the company's stock, valued at $5,735,396.24. This trade represents a 2.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 31,355 shares of company stock valued at $2,613,165 in the last quarter. Corporate insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On CommVault Systems

Several institutional investors and hedge funds have recently made changes to their positions in the company. Federated Hermes Inc. boosted its stake in CommVault Systems by 9.7% in the 3rd quarter. Federated Hermes Inc. now owns 322,053 shares of the software maker's stock worth $60,797,000 after purchasing an additional 28,596 shares during the period. JPMorgan Chase & Co. boosted its stake in CommVault Systems by 131.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 382,778 shares of the software maker's stock worth $72,261,000 after purchasing an additional 217,557 shares during the period. Emerald Advisers LLC boosted its stake in CommVault Systems by 47.4% in the 3rd quarter. Emerald Advisers LLC now owns 156,894 shares of the software maker's stock worth $29,618,000 after purchasing an additional 50,470 shares during the period. Victory Capital Management Inc. boosted its stake in CommVault Systems by 19.4% in the 3rd quarter. Victory Capital Management Inc. now owns 118,284 shares of the software maker's stock worth $22,330,000 after purchasing an additional 19,218 shares during the period. Finally, Strengthening Families & Communities LLC boosted its stake in CommVault Systems by 2,215.4% in the 3rd quarter. Strengthening Families & Communities LLC now owns 18,037 shares of the software maker's stock worth $3,350,000 after purchasing an additional 17,258 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

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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