Commvault Systems (NASDAQ:CVLT) Raised to “Strong-Buy” at StockNews.com

Commvault Systems (NASDAQ:CVLT) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday.

A number of other equities research analysts have also issued reports on the company. Royal Bank of Canada increased their target price on Commvault Systems from $121.00 to $152.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 31st. DA Davidson upped their price target on Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Piper Sandler lifted their price objective on shares of Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. KeyCorp upped their target price on shares of Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Commvault Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

Commvault Systems Stock Up 0.7 %

Shares of NASDAQ CVLT traded up $0.88 during midday trading on Thursday, hitting $133.14. The stock had a trading volume of 321,411 shares, compared to its average volume of 345,063. The company has a fifty day moving average price of $149.67 and a 200 day moving average price of $128.26. The company has a market capitalization of $5.83 billion, a price-to-earnings ratio of 35.41 and a beta of 0.60. Commvault Systems has a 1-year low of $63.70 and a 1-year high of $165.73.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.12. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The firm had revenue of $224.67 million for the quarter, compared to analysts’ expectations of $215.54 million. During the same period in the previous year, the company posted $0.29 earnings per share. Commvault Systems’s revenue was up 13.4% compared to the same quarter last year. On average, research analysts forecast that Commvault Systems will post 1.66 EPS for the current year.

Insider Buying and Selling at Commvault Systems

In other news, insider Gary Merrill sold 17,388 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total value of $2,621,414.88. Following the completion of the sale, the insider now owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.89, for a total transaction of $189,592.48. Following the sale, the director now directly owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the completion of the transaction, the insider now directly owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Commvault Systems

Institutional investors and hedge funds have recently modified their holdings of the business. National Bank of Canada FI acquired a new stake in Commvault Systems during the second quarter worth about $30,000. Hexagon Capital Partners LLC raised its position in shares of Commvault Systems by 124.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock worth $43,000 after purchasing an additional 196 shares during the period. Signaturefd LLC lifted its holdings in shares of Commvault Systems by 70.8% in the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after purchasing an additional 170 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in Commvault Systems during the 2nd quarter valued at approximately $56,000. Finally, GAMMA Investing LLC grew its stake in Commvault Systems by 140.5% during the 2nd quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock worth $64,000 after buying an additional 309 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

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.