CommVault Systems, Inc. (NASDAQ:CVLT - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $103.63 and traded as high as $135.69. CommVault Systems shares last traded at $133.94, with a volume of 836,936 shares traded.
Key Stories Impacting CommVault Systems
Here are the key news stories impacting CommVault Systems this week:
Wall Street Analysts Forecast Growth
A number of research firms recently commented on CVLT. Weiss Ratings raised CommVault Systems from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, June 16th. Royal Bank Of Canada increased their price objective on shares of CommVault Systems from $100.00 to $110.00 and gave the company a "sector perform" rating in a report on Wednesday, April 29th. Scotiabank lifted their price objective on shares of CommVault Systems from $105.00 to $110.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 29th. Robert W. Baird lowered their target price on shares of CommVault Systems from $185.00 to $160.00 and set an "outperform" rating on the stock in a report on Monday, April 13th. Finally, Wall Street Zen lowered shares of CommVault Systems from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $136.33.
View Our Latest Stock Analysis on CVLT
CommVault Systems Stock Up 2.4%
The company has a debt-to-equity ratio of 117.54, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market capitalization of $5.53 billion, a PE ratio of 84.24 and a beta of 0.82. The business has a 50-day moving average of $110.50 and a 200 day moving average of $103.63.
CommVault Systems (NASDAQ:CVLT - Get Free Report) last released its quarterly 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 return on equity of 51.64% and a net margin of 5.97%.The business had revenue of $311.69 million during the quarter, compared to analysts' expectations of $306.71 million. During the same quarter last year, the business posted $1.03 EPS. The firm's revenue for the quarter was up 13.3% compared to the same quarter last year. Equities research analysts predict that CommVault Systems, Inc. will post 2.86 earnings per share for the current year.
Insider Activity
In related news, CFO Gary Merrill sold 4,560 shares of the firm's stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $105.10, for a total value of $479,256.00. Following the completion of the transaction, the chief financial officer directly owned 72,507 shares of the company's stock, valued at approximately $7,620,485.70. This trade represents a 5.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Sanjay Mirchandani sold 19,396 shares of the business's stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $105.49, for a total transaction of $2,046,084.04. Following the completion of the sale, the chief executive officer owned 315,377 shares in the company, valued at $33,269,119.73. This represents a 5.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 55,025 shares of company stock worth $5,748,457. 1.00% of the stock is currently owned by insiders.
Institutional Trading of CommVault Systems
A number of large investors have recently made changes to their positions in the business. Tudor Investment Corp ET AL bought a new position in shares of CommVault Systems in the 3rd quarter valued at about $1,887,800,000. Vanguard Group Inc. increased its stake in CommVault Systems by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 5,675,590 shares of the software maker's stock worth $711,492,000 after acquiring an additional 240,093 shares during the last quarter. First Trust Advisors LP increased its stake in CommVault Systems by 25.5% during the fourth quarter. First Trust Advisors LP now owns 1,537,034 shares of the software maker's stock worth $192,683,000 after acquiring an additional 312,178 shares during the last quarter. Pictet Asset Management Holding SA raised its position in CommVault Systems by 36.2% during the first quarter. Pictet Asset Management Holding SA now owns 1,239,225 shares of the software maker's stock valued at $96,447,000 after purchasing an additional 329,243 shares during the period. Finally, Westfield Capital Management Co. LP raised its position in CommVault Systems by 34.5% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,057,077 shares of the software maker's stock valued at $132,515,000 after purchasing an additional 270,902 shares during the period. 93.50% of the stock is currently owned by institutional investors.
CommVault Systems Company Profile
(
Get Free Report)
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.
Featured Stories
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