CommVault Systems (NASDAQ:CVLT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of CommVault Systems (NASDAQ:CVLT) from a hold rating to a buy rating in a research report report published on Sunday morning,Wall Street Zen reports.

Several other equities research analysts have also recently commented on the company. Jefferies Financial Group restated a “hold” rating and set a $130.00 price target on shares of CommVault Systems in a research note on Wednesday, July 29th. Guggenheim reissued a “buy” rating on shares of CommVault Systems in a research note on Tuesday, July 28th. Scotiabank upped their price objective on shares of CommVault Systems from $130.00 to $160.00 and gave the stock a “sector perform” rating in a research report on Monday, October 5th. Cantor Fitzgerald restated a “neutral” rating and issued a $132.00 target price on shares of CommVault Systems in a research note on Monday, July 27th. Finally, KeyCorp raised their target price on shares of CommVault Systems from $125.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $158.25.

CommVault Systems Stock Performance

Shares of CommVault Systems stock opened at $155.85 on Friday. The stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of 61.12 and a beta of 0.79. The firm’s fifty day simple moving average is $143.84 and its 200-day simple moving average is $127.53. The company has a debt-to-equity ratio of 16.94, a current ratio of 2.04 and a quick ratio of 2.04. CommVault Systems has a 12 month low of $71.75 and a 12 month high of $177.81.

CommVault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.26. The business had revenue of $314.13 million during the quarter, compared to the consensus estimate of $310.43 million. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.01 earnings per share. As a group, equities analysts forecast that CommVault Systems will post 2.84 earnings per share for the current year.

Insider Activity at CommVault Systems

In other news, Director A. Shane Sanders sold 476 shares of CommVault Systems stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $134.19, for a total transaction of $63,874.44. Following the completion of the sale, the director directly owned 8,696 shares in the company, valued at approximately $1,166,916.24. This trade represents a 5.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vivie Lee sold 595 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $134.19, for a total value of $79,843.05. Following the completion of the transaction, the director directly owned 15,140 shares of the company’s stock, valued at $2,031,636.60. The trade was a 3.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 29,348 shares of company stock worth $4,202,441. 0.86% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CommVault Systems

Several institutional investors and hedge funds have recently made changes to their positions in CVLT. GAMMA Investing LLC increased its stake in shares of CommVault Systems by 4.3% in the third quarter. GAMMA Investing LLC now owns 1,626 shares of the software maker’s stock worth $244,000 after acquiring an additional 67 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of CommVault Systems by 15.8% during the second quarter. Versant Capital Management Inc now owns 595 shares of the software maker’s stock worth $84,000 after acquiring an additional 81 shares in the last quarter. Transamerica Financial Advisors LLC acquired a new stake in CommVault Systems during the second quarter valued at $25,000. HighTower Advisors LLC boosted its position in CommVault Systems by 6.8% during the second quarter. HighTower Advisors LLC now owns 2,828 shares of the software maker’s stock valued at $401,000 after purchasing an additional 181 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in CommVault Systems during the second quarter valued at $27,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

CommVault Systems Company Profile

Commvault Systems, Inc develops data protection and cyber resilience software and services for businesses, government organizations and other institutions. Its platform is designed to help customers back up, recover, manage and secure data across on-premises infrastructure, private and public clouds, software-as-a-service applications and other distributed IT environments.

The company’s offerings include backup and recovery, disaster recovery, data security, ransomware protection, cyber-recovery capabilities and data management tools.