Commvault Systems (NASDAQ:CVLT) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of Commvault Systems (NASDAQ:CVLT) in a research report released on Friday, Marketbeat Ratings reports. The firm issued a neutral rating and a $159.00 price objective on the software maker’s stock.

Several other research firms have also recently weighed in on CVLT. KeyCorp assumed coverage on shares of Commvault Systems in a research report on Thursday. They issued an “overweight” rating and a $192.00 price objective on the stock. Oppenheimer assumed coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price objective on the stock. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Royal Bank of Canada upped their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Finally, Guggenheim cut shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $154.56.

Commvault Systems Stock Performance

Shares of Commvault Systems stock opened at $161.28 on Friday. Commvault Systems has a 52-week low of $77.56 and a 52-week high of $178.72. The stock’s 50-day simple moving average is $164.92 and its 200 day simple moving average is $152.08. The stock has a market capitalization of $7.05 billion, a P/E ratio of 40.83 and a beta of 0.65.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share 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 for the quarter, compared to analysts’ expectations of $220.76 million. During the same period in the prior year, the business posted $0.30 earnings per share. The company’s revenue was up 16.1% on a year-over-year basis. Equities research analysts forecast that Commvault Systems will post 1.66 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, 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 transaction of $212,520.00. Following 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 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 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 sale, the insider now directly owns 93,007 shares in the company, valued at $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. Over the last 90 days, insiders sold 13,530 shares of company stock worth $2,244,755. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CVLT. Charles Schwab Investment Management Inc. lifted its position in shares of Commvault Systems by 25.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock valued at $90,278,000 after buying an additional 120,779 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Commvault Systems during the 2nd quarter valued at about $2,221,000. Summit Partners Public Asset Management LLC purchased a new position in shares of Commvault Systems during the 3rd quarter valued at about $67,722,000. Vontobel Holding Ltd. purchased a new position in shares of Commvault Systems during the 3rd quarter valued at about $1,126,000. Finally, Point72 Hong Kong Ltd lifted its position in shares of Commvault Systems by 37.9% during the 3rd quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker’s stock valued at $3,603,000 after buying an additional 6,433 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

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.