CommVault Systems (NASDAQ:CVLT) Research Coverage Started at Mizuho

Mizuho initiated coverage on shares of CommVault Systems (NASDAQ:CVLT) in a research note released on Monday, MarketBeat reports. The firm issued an outperform rating and a $190.00 price objective on the software maker’s stock.

Other equities research analysts have also recently issued research reports about the company. Truist Financial decreased their target price on CommVault Systems from $230.00 to $210.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Robert W. Baird began coverage on shares of CommVault Systems in a research note on Monday, October 27th. They issued an “outperform” rating and a $215.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of CommVault Systems from $220.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of CommVault Systems in a report on Wednesday, October 8th. Finally, Guggenheim reissued a “buy” rating and set a $220.00 target price on shares of CommVault Systems in a research report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, CommVault Systems has a consensus rating of “Moderate Buy” and a consensus target price of $194.64.

CommVault Systems Trading Up 0.9%

Shares of NASDAQ:CVLT opened at $123.24 on Monday. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 4.18. The stock has a market capitalization of $5.43 billion, a PE ratio of 69.24 and a beta of 0.60. CommVault Systems has a 1 year low of $114.46 and a 1 year high of $200.68. The firm has a fifty day moving average price of $143.82 and a 200 day moving average price of $167.68.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, October 28th. The software maker reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.04). The company had revenue of $276.19 million during the quarter, compared to analyst estimates of $273.31 million. CommVault Systems had a return on equity of 31.53% and a net margin of 7.32%.CommVault Systems’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.83 EPS. Analysts expect that CommVault Systems will post 1.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sanjay Mirchandani sold 13,109 shares of the stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $121.15, for a total value of $1,588,155.35. Following the transaction, the chief executive officer directly owned 359,260 shares in the company, valued at $43,524,349. This represents a 3.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jennifer Leigh Dirico sold 830 shares of CommVault Systems stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $123.58, for a total transaction of $102,571.40. Following the sale, the chief financial officer directly owned 44,313 shares of the company’s stock, valued at $5,476,200.54. This represents a 1.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,355 shares of company stock valued at $6,772,436 over the last ninety days. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On CommVault Systems

Several hedge funds have recently added to or reduced their stakes in CVLT. Tudor Investment Corp ET AL acquired a new position in shares of CommVault Systems during the 3rd quarter worth about $1,887,800,000. Swiss Life Asset Management Ltd acquired a new stake in shares of CommVault Systems in the 3rd quarter valued at approximately $389,000. JPMorgan Chase & Co. grew its holdings in CommVault Systems by 131.7% during the third quarter. JPMorgan Chase & Co. now owns 382,778 shares of the software maker’s stock valued at $72,261,000 after purchasing an additional 217,557 shares during the period. CIBC Private Wealth Group LLC increased its stake in CommVault Systems by 17,018.5% in the third quarter. CIBC Private Wealth Group LLC now owns 4,622 shares of the software maker’s stock valued at $873,000 after purchasing an additional 4,595 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new stake in CommVault Systems in the third quarter valued at approximately $900,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

CommVault Systems Company Profile

Commvault Systems, Inc provides data protection platform that helps customers to secure, defend, and recover their data in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; Commvault Complete Data Protection, a data protection solution; and Metallic Data Protection as-a-service, which delivers enterprise-grade data protection as a service on a cloud platform, with advanced built-in security controls.