CommVault Systems (NASDAQ:CVLT) Releases Quarterly Earnings Results, Beats Expectations By $0.17 EPS

CommVault Systems (NASDAQ:CVLT - Get Free Report) posted its quarterly earnings data on Tuesday. The software maker reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.17, FiscalAI reports. The company had revenue of $311.69 million during the quarter, compared to analyst estimates of $306.75 million. CommVault Systems had a net margin of 7.58% and a return on equity of 37.38%.

CommVault Systems Price Performance

CVLT opened at $88.41 on Tuesday. CommVault Systems has a one year low of $71.75 and a one year high of $200.68. 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's 50 day simple moving average is $85.04 and its 200-day simple moving average is $111.20. The stock has a market capitalization of $3.89 billion, a P/E ratio of 45.57 and a beta of 0.63.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CVLT shares. 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 report on Monday, April 13th. Wall Street Zen lowered shares of CommVault Systems from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Zacks Research raised shares of CommVault Systems from a "hold" rating to a "strong-buy" rating in a report on Friday, January 30th. Stephens decreased their price target on shares of CommVault Systems from $162.00 to $135.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 28th. Finally, Piper Sandler decreased their price target on shares of CommVault Systems from $186.00 to $155.00 and set an "overweight" rating on the stock in a research note on Monday, January 5th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, CommVault Systems presently has an average rating of "Moderate Buy" and an average price target of $132.87.

Insider Activity at CommVault Systems

In other news, insider Gary Merrill sold 1,892 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 62,833 shares of the company's stock, valued at $5,735,396.24. This represents a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjay Mirchandani sold 10,052 shares of the firm's stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 31,355 shares of company stock worth $2,613,165 over the last three months. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On CommVault Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of CVLT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in CommVault Systems by 8.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,410 shares of the software maker's stock valued at $23,255,000 after acquiring an additional 11,700 shares during the last quarter. Sivia Capital Partners LLC bought a new position in CommVault Systems in the second quarter valued at approximately $327,000. Cetera Investment Advisers boosted its stake in CommVault Systems by 13.4% in the second quarter. Cetera Investment Advisers now owns 2,486 shares of the software maker's stock valued at $433,000 after acquiring an additional 294 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in CommVault Systems by 188.3% in the second quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock valued at $47,000 after acquiring an additional 177 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its stake in CommVault Systems by 43.8% in the second quarter. Guggenheim Capital LLC now owns 4,245 shares of the software maker's stock valued at $740,000 after acquiring an additional 1,293 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

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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