CommVault Systems (NASDAQ:CVLT) Sets New 52-Week Low - Here's What Happened

Key Points

• CommVault stock hit a new 52-week low, trading as low as $71.75 (last $73.389) on Thursday with about 529,190 shares changing hands, down from a prior close of $79.07.
• Analysts have trimmed targets recently (e.g., RBC to $100, Piper Sandler to $155, Oppenheimer to $150), but the consensus target remains roughly $141.38 with an average rating of "Moderate Buy."
• The company beat quarterly estimates—$1.17 EPS vs. $0.98 and revenue of $313.8M (up 19.5% YoY)—while carrying a $3.5B market cap and a P/E of about 41.1.

CommVault Systems, Inc. (NASDAQ:CVLT - Get Free Report)'s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $71.75 and last traded at $73.3890, with a volume of 529190 shares trading hands. The stock had previously closed at $79.07.

Analysts Set New Price Targets

A number of equities analysts have commented on CVLT shares. William Blair reissued a "market perform" rating on shares of CommVault Systems in a research note on Monday, March 23rd. Piper Sandler cut their price target 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. Royal Bank Of Canada cut their price target on shares of CommVault Systems from $167.00 to $100.00 and set a "sector perform" rating for the company in a research note on Wednesday, January 28th. DA Davidson cut their price target on shares of CommVault Systems from $135.00 to $125.00 and set a "buy" rating for the company in a research note on Tuesday, March 17th. Finally, Oppenheimer cut their price target on shares of CommVault Systems from $180.00 to $150.00 and set an "outperform" rating for the company in a research note on Wednesday, January 28th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $141.38.

CommVault Systems Stock Up 0.6%

The stock's fifty day moving average is $83.61 and its 200 day moving average is $120.13. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 4.06. The company has a market capitalization of $3.50 billion, a P/E ratio of 41.08 and a beta of 0.63.

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 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 business had revenue of $313.83 million during the quarter, compared to analyst estimates of $299.07 million. During the same period in the prior year, the business earned $0.94 EPS. The company's revenue for the quarter was up 19.5% on a year-over-year basis. Research analysts predict that CommVault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Insider Buying and Selling at CommVault Systems

In other CommVault Systems news, insider Gary Merrill sold 2,593 shares of the company's stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $90.28, for a total value of $234,096.04. Following the completion of the transaction, the insider directly owned 64,725 shares in the company, valued at approximately $5,843,373. This represents a 3.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Mirchandani sold 10,338 shares of the company's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $78.96, for a total transaction of $816,288.48. Following the completion of the sale, the chief executive officer directly owned 342,581 shares in the company, valued at $27,050,195.76. This represents a 2.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 31,355 shares of company stock valued at $2,613,165 over the last 90 days. Company insiders own 1.00% of the company's stock.

Institutional Trading of CommVault Systems

A number of hedge funds and other institutional investors have recently modified their holdings of CVLT. State of Wyoming purchased a new stake in shares of CommVault Systems in the 2nd quarter worth about $35,000. FNY Investment Advisers LLC purchased a new stake in CommVault Systems during the 4th quarter valued at about $36,000. Banque Cantonale Vaudoise purchased a new stake in CommVault Systems during the 3rd quarter valued at about $39,000. Assetmark Inc. grew its position in CommVault Systems by 33.6% during the 4th quarter. Assetmark Inc. now owns 326 shares of the software maker's stock valued at $41,000 after purchasing an additional 82 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its position in CommVault Systems by 43.8% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 243 shares of the software maker's stock valued at $46,000 after purchasing an additional 74 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other 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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