Commvault Systems (NASDAQ:CVLT) Rating Increased 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 report published on Tuesday morning.

CVLT has been the topic of several other research reports. DA Davidson lifted their target price on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Guggenheim downgraded shares of Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Oppenheimer began coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 target price on the stock. Finally, Royal Bank of Canada boosted 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 research 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 company. According to data from MarketBeat, Commvault Systems presently has an average rating of “Moderate Buy” and a consensus target price of $151.25.

Commvault Systems Stock Down 0.2 %

Shares of NASDAQ CVLT opened at $150.91 on Tuesday. The firm’s 50-day moving average price is $164.25 and its two-hundred day moving average price is $148.69. Commvault Systems has a 52-week low of $73.33 and a 52-week high of $178.72. The stock has a market capitalization of $6.60 billion, a P/E ratio of 38.21 and a beta of 0.61.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $233.28 million for the quarter, compared to analyst estimates of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the business earned $0.30 earnings per share. As a group, equities research analysts expect that Commvault Systems will post 1.66 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction of $212,520.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mirchandani sold 10,775 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the sale, the chief executive officer now directly owns 459,969 shares of the company’s stock, valued at approximately $76,032,875.70. This trade represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,530 shares of company stock worth $2,244,755 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Commvault Systems

A number of institutional investors have recently added to or reduced their stakes in CVLT. Panagora Asset Management Inc. acquired a new position in Commvault Systems during the 2nd quarter worth approximately $207,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Commvault Systems in the 2nd quarter valued at approximately $1,330,000. Signaturefd LLC increased its position in Commvault Systems by 70.8% in 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 increased its position in Commvault Systems by 5.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock valued at $328,000 after acquiring an additional 139 shares during the period. Finally, Van ECK Associates Corp acquired a new position in Commvault Systems in the 2nd quarter valued at approximately $2,589,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

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.