Commvault Systems, Inc. (NASDAQ:CVLT) Given Average Rating of “Moderate Buy” by Brokerages

Commvault Systems, Inc. (NASDAQ:CVLT) has earned an average rating of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $151.25.

A number of research analysts recently issued reports on CVLT shares. StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Royal Bank of Canada lifted their target price on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. DA Davidson boosted their target price on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 6th. Oppenheimer initiated 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. Finally, Guggenheim cut shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th.

Commvault Systems Stock Down 0.0 %

Shares of CVLT stock opened at $171.59 on Monday. The firm has a 50 day moving average of $158.48 and a two-hundred day moving average of $140.51. The stock has a market capitalization of $7.50 billion, a PE ratio of 43.44 and a beta of 0.59. Commvault Systems has a 52 week low of $72.76 and a 52 week high of $178.72.

Commvault Systems (NASDAQ:CVLT) last issued its 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. The firm had revenue of $233.28 million for the quarter, compared to analysts’ expectations of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The firm’s revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.30 earnings per share. Analysts expect that Commvault Systems will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling at Commvault Systems

In related news, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction on Monday, November 18th. The stock was sold at an average price of $164.89, for a total value of $251,127.47. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Mirchandani sold 10,775 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $165.30, for a total value of $1,781,107.50. Following the sale, the chief executive officer now owns 459,969 shares of the company’s stock, valued at $76,032,875.70. This represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Institutional Trading of Commvault Systems

A number of institutional investors have recently modified their holdings of CVLT. Renaissance Technologies LLC increased its holdings in Commvault Systems by 7.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock valued at $220,466,000 after purchasing an additional 126,800 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Commvault Systems by 0.3% in the second quarter. Acadian Asset Management LLC now owns 1,601,057 shares of the software maker’s stock worth $194,606,000 after buying an additional 4,422 shares during the period. State Street Corp grew its stake in shares of Commvault Systems by 1.6% in the third quarter. State Street Corp now owns 1,594,045 shares of the software maker’s stock valued at $245,244,000 after buying an additional 25,082 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Commvault Systems by 33.5% during the 2nd quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock valued at $78,882,000 after buying an additional 162,722 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in 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 worth $90,278,000 after acquiring an additional 120,779 shares in the last quarter. Hedge funds and other institutional investors 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.