Commvault Systems (NASDAQ:CVLT) Upgraded to Strong-Buy 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 published on Tuesday morning.

Other analysts have also recently issued reports about the company. Guggenheim cut Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Oppenheimer started coverage on Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price objective for the company. DA Davidson raised their target price on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Finally, Royal Bank of Canada upped their price target on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $151.25.

Commvault Systems Stock Up 0.8 %

Shares of CVLT opened at $152.11 on Tuesday. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of 38.51 and a beta of 0.61. Commvault Systems has a 52-week low of $73.33 and a 52-week high of $178.72. The stock has a 50 day moving average price of $165.00 and a 200 day moving average price of $148.73.

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

Insider Activity at Commvault Systems

In other news, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $172.50, for a total value of $212,520.00. Following the completion of the sale, the director now directly owns 5,899 shares of the company’s stock, valued at $1,017,577.50. This trade represents a 17.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction that occurred 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 approximately $15,335,924.23. This trade represents a 1.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,530 shares of company stock worth $2,244,755 in the last three months. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Commvault Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of CVLT. Panagora Asset Management Inc. purchased a new position in shares of Commvault Systems in the 2nd quarter valued at about $207,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Commvault Systems during the 2nd quarter valued at approximately $1,330,000. Signaturefd LLC lifted its position in shares of Commvault Systems by 70.8% during the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock valued at $50,000 after acquiring an additional 170 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of Commvault Systems by 5.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock worth $328,000 after acquiring an additional 139 shares in the last quarter. Finally, Van ECK Associates Corp acquired a new stake in shares of Commvault Systems in the 2nd quarter worth approximately $2,589,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

About Commvault Systems

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.