Commvault Systems (NASDAQ:CVLT) Upgraded at StockNews.com

StockNews.com upgraded shares of Commvault Systems (NASDAQ:CVLT) from a buy rating to a strong-buy rating in a research note released on Tuesday morning.

A number of other research firms also recently commented on CVLT. DA Davidson increased their price objective on shares of Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 6th. Oppenheimer assumed coverage on Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target for the company. Royal Bank of Canada boosted their price objective on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Finally, Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $151.25.

Commvault Systems Trading Up 0.8 %

NASDAQ:CVLT opened at $152.11 on Tuesday. The stock has a 50 day moving average of $165.00 and a two-hundred day moving average of $148.73. Commvault Systems has a 12 month low of $73.33 and a 12 month high of $178.72. The firm has a market cap of $6.65 billion, a P/E ratio of 38.51 and a beta of 0.61.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, beating the consensus estimate of $0.76 by $0.07. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The firm had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. During the same period in the prior year, the company earned $0.30 EPS. The firm’s revenue was up 16.1% compared to the same quarter last year. On average, research analysts forecast that Commvault Systems will post 1.66 earnings per share for the current year.

Insider Activity at Commvault Systems

In other news, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $172.50, for a total transaction of $212,520.00. Following the completion of the transaction, the director now directly owns 5,899 shares in the company, valued at $1,017,577.50. This trade represents a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gary Merrill sold 1,523 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $164.89, for a total value of $251,127.47. Following the completion of the sale, the insider now owns 93,007 shares in the company, valued at $15,335,924.23. This represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,530 shares of company stock worth $2,244,755. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Commvault Systems

A number of hedge funds have recently added to or reduced their stakes in CVLT. National Bank of Canada FI acquired a new stake in shares of Commvault Systems in the second quarter valued at $30,000. Capital Performance Advisors LLP acquired a new position in shares of Commvault Systems during the third quarter worth about $33,000. Signaturefd LLC increased its stake in shares of Commvault Systems by 70.8% during the second quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after buying an additional 170 shares during the period. Strategic Financial Concepts LLC acquired a new stake in Commvault Systems in the second quarter valued at approximately $56,000. Finally, Point72 DIFC Ltd acquired a new position in Commvault Systems during the 3rd quarter worth approximately $71,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

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.