Commvault Systems (NASDAQ:CVLT) Stock Rating Upgraded by StockNews.com

Commvault Systems (NASDAQ:CVLT) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday.

A number of other equities research analysts also recently commented on CVLT. DA Davidson increased their price objective on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Royal Bank of Canada upped their target price on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Guggenheim cut Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Finally, Oppenheimer initiated coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective for the company. Four investment 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $151.25.

Commvault Systems Trading Down 0.2 %

Shares of Commvault Systems stock opened at $150.91 on Tuesday. Commvault Systems has a 52 week low of $73.33 and a 52 week high of $178.72. The stock has a market cap of $6.60 billion, a PE ratio of 38.21 and a beta of 0.61. The company’s 50-day moving average price is $164.62 and its two-hundred day moving average price is $148.71.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping 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 company had revenue of $233.28 million for the quarter, compared to analysts’ expectations of $220.76 million. During the same quarter in the previous year, the company posted $0.30 EPS. The business’s revenue was up 16.1% compared to the same quarter last year. On average, equities analysts predict that Commvault Systems will post 1.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Sanjay Mirchandani sold 10,775 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $165.30, for a total value of $1,781,107.50. Following the transaction, the chief executive officer now directly owns 459,969 shares of the company’s stock, valued at approximately $76,032,875.70. This represents a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Allison Pickens sold 1,232 shares of the stock in a transaction 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 sale, the director now owns 5,899 shares of the company’s stock, valued at approximately $1,017,577.50. This represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,530 shares of company stock worth $2,244,755. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of Commvault Systems during the 3rd quarter valued at about $33,000. National Bank of Canada FI bought a new stake in Commvault Systems in the second quarter worth approximately $30,000. Signaturefd LLC increased its stake in shares of Commvault Systems by 70.8% during 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. Point72 DIFC Ltd acquired a new position in shares of Commvault Systems during the 3rd quarter worth $71,000. Finally, TD Private Client Wealth LLC bought a new position in shares of Commvault Systems during the 3rd quarter valued at $105,000. Hedge funds and other institutional investors 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.