CommVault Systems, Inc. (NASDAQ:CVLT) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on CommVault Systems, with 10 buy ratings, 10 holds and one strong-buy rating. The average 12-month price target is $152.63.
• CommVault exceeded quarterly expectations, reporting $1.42 in EPS versus the $1.16 estimate and revenue of $314.13 million, up 11.4% year over year.
• Institutional investors own 93.5% of the company, while insiders sold 29,602 shares worth approximately $4.24 million over the past quarter, primarily through pre-arranged trading plans.

Shares of CommVault Systems, Inc. (NASDAQ:CVLT - Get Free Report) have received a consensus rating of "Moderate Buy" from the twenty-one ratings firms that are covering the stock, MarketBeat reports. Ten equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $152.6250.

A number of brokerages recently issued reports on CVLT. Weiss Ratings upgraded CommVault Systems from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, June 16th. Oppenheimer raised their price target on CommVault Systems from $150.00 to $175.00 and gave the company an "outperform" rating in a report on Friday, July 17th. Guggenheim reaffirmed a "buy" rating on shares of CommVault Systems in a report on Tuesday, July 28th. DA Davidson set a $175.00 price target on CommVault Systems in a research report on Wednesday, July 29th. Finally, Stephens boosted their price objective on CommVault Systems from $135.00 to $155.00 and gave the stock an "overweight" rating in a report on Tuesday, June 16th.

Insider Buying and Selling at CommVault Systems

In other CommVault Systems news, CEO Sanjay Mirchandani sold 6,857 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $142.80, for a total value of $979,179.60. Following the completion of the transaction, the chief executive officer owned 257,676 shares of the company's stock, valued at $36,796,132.80. The trade was a 2.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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, Director Vivie Lee sold 595 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $134.19, for a total transaction of $79,843.05. Following the completion of the transaction, the director directly owned 15,140 shares in the company, valued at $2,031,636.60. The trade was a 3.78% 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. Insiders sold a total of 29,602 shares of company stock valued at $4,240,541 over the last quarter. Company insiders own 0.86% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CVLT. California State Teachers Retirement System increased its position in shares of CommVault Systems by 13,810.8% during the 2nd quarter. California State Teachers Retirement System now owns 7,182,168 shares of the software maker's stock valued at $1,017,929,000 after purchasing an additional 7,130,538 shares during the last quarter. BlackRock Inc. bought a new stake in CommVault Systems in the 2nd quarter worth approximately $855,420,000. The Manufacturers Life Insurance Company bought a new stake in CommVault Systems in the 2nd quarter worth approximately $65,765,000. American Capital Management Inc. purchased a new stake in CommVault Systems in the second quarter worth approximately $62,493,000. Finally, TD Asset Management Inc boosted its stake in CommVault Systems by 14,047.5% in the fourth quarter. TD Asset Management Inc now owns 381,982 shares of the software maker's stock worth $47,885,000 after buying an additional 379,282 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

CommVault Systems Stock Performance

Shares of CVLT opened at $130.07 on Friday. The stock's 50-day simple moving average is $138.21 and its 200 day simple moving average is $114.39. CommVault Systems has a 52-week low of $71.75 and a 52-week high of $198.18. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 82.85 and a beta of 0.82. The company has a debt-to-equity ratio of 16.94, a quick ratio of 2.04 and a current ratio of 2.04.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last posted its earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.16 by $0.26. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The business had revenue of $314.13 million for the quarter, compared to analyst estimates of $310.43 million. During the same quarter in the prior year, the firm posted $1.01 EPS. CommVault Systems's revenue was up 11.4% on a year-over-year basis. Research analysts forecast that CommVault Systems will post 2.84 EPS for the current fiscal year.

About CommVault Systems

Commvault Systems, Inc develops data protection and cyber resilience software for organizations seeking to secure, manage and recover data across on-premises, cloud and hybrid environments. Its technology is designed to help businesses protect workloads, reduce the risk of data loss and maintain operations following system failures, cyberattacks or other disruptions.

The company's offerings include backup and recovery, disaster recovery, data security, cyber recovery and cloud data management solutions.

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