William Blair Upgrades Commvault Systems (NASDAQ:CVLT) to “Outperform”

Commvault Systems (NASDAQ:CVLT) was upgraded by research analysts at William Blair from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, MarketBeat reports.

A number of other equities research analysts have also weighed in on CVLT. Oppenheimer assumed coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective on the stock. Cantor Fitzgerald lifted their target price on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research note on Wednesday. KeyCorp boosted their price target on Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday. Royal Bank of Canada upped their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Finally, StockNews.com downgraded shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $156.44.

Commvault Systems Stock Up 0.9 %

Shares of Commvault Systems stock opened at $159.26 on Thursday. The firm’s 50-day moving average price is $162.55 and its two-hundred day moving average price is $154.21. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of 41.80 and a beta of 0.65. Commvault Systems has a 12-month low of $88.34 and a 12-month high of $178.72.

Commvault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 28.69% and a net margin of 18.14%. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 earnings per share. On average, sell-side analysts expect that Commvault Systems will post 1.68 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Sanjay Mirchandani sold 10,775 shares of the firm’s stock in a transaction that occurred 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 completion of 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 trade represents a 2.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gary Merrill sold 1,523 shares of Commvault Systems 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 completion of the transaction, the insider now owns 93,007 shares of the company’s stock, valued at approximately $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 quarter, insiders have sold 13,530 shares of company stock valued at $2,244,755. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Commvault Systems

Several hedge funds and other institutional investors have recently modified their holdings of CVLT. Nisa Investment Advisors LLC grew its stake in Commvault Systems by 3.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker’s stock worth $296,000 after buying an additional 66 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Commvault Systems by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker’s stock valued at $213,000 after buying an additional 75 shares during the last quarter. GAMMA Investing LLC increased its stake in Commvault Systems by 13.7% in the 4th quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker’s stock worth $152,000 after purchasing an additional 121 shares during the period. New York State Common Retirement Fund increased its stake in shares of Commvault Systems by 1.0% in the fourth quarter. New York State Common Retirement Fund now owns 13,713 shares of the software maker’s stock worth $2,069,000 after buying an additional 141 shares during the period. Finally, OLD National Bancorp IN increased its position in shares of Commvault Systems by 7.1% in the fourth quarter. OLD National Bancorp IN now owns 2,187 shares of the software maker’s stock valued at $330,000 after acquiring an additional 145 shares during the period. 93.50% of the stock is currently owned by 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.