Oppenheimer Begins Coverage on Commvault Systems (NASDAQ:CVLT)

Stock analysts at Oppenheimer initiated coverage on shares of Commvault Systems (NASDAQ:CVLT) in a report issued on Wednesday, MarketBeat reports. The brokerage set an “outperform” rating and a $200.00 price target on the software maker’s stock. Oppenheimer’s price target indicates a potential upside of 16.94% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Royal Bank of Canada upped their price objective on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. KeyCorp boosted their target price on Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. DA Davidson upped their target price on shares of Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $151.25.

Commvault Systems Trading Down 3.1 %

Commvault Systems stock opened at $171.03 on Wednesday. The business’s fifty day simple moving average is $152.65 and its two-hundred day simple moving average is $134.89. The company has a market capitalization of $7.48 billion, a price-to-earnings ratio of 43.50 and a beta of 0.59. Commvault Systems has a 12 month low of $68.02 and a 12 month high of $178.29.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $233.28 million during 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%. Commvault Systems’s revenue was up 16.1% compared to the same quarter last year. During the same period last year, the business earned $0.30 EPS. On average, equities research analysts predict that Commvault Systems will post 1.65 EPS for the current year.

Insider Buying and Selling

In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total value of $2,621,414.88. Following the completion of the sale, the insider now owns 94,530 shares in the company, valued at $14,251,342.80. This represents a 15.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.89, for a total value of $189,592.48. Following the transaction, the director now directly owns 7,131 shares in the company, valued at approximately $1,097,389.59. The trade was a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Commvault Systems

A number of hedge funds have recently modified their holdings of the company. Swiss National Bank lifted its stake in shares of Commvault Systems by 5.1% during the 1st quarter. Swiss National Bank now owns 86,400 shares of the software maker’s stock valued at $8,764,000 after buying an additional 4,200 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Commvault Systems by 0.4% in the first quarter. Sei Investments Co. now owns 89,427 shares of the software maker’s stock worth $9,071,000 after acquiring an additional 323 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Commvault Systems by 11.5% in the first quarter. Russell Investments Group Ltd. now owns 128,268 shares of the software maker’s stock worth $12,996,000 after acquiring an additional 13,207 shares during the period. ProShare Advisors LLC grew its position in shares of Commvault Systems by 9.3% during the first quarter. ProShare Advisors LLC now owns 13,327 shares of the software maker’s stock worth $1,352,000 after purchasing an additional 1,133 shares in the last quarter. Finally, Entropy Technologies LP bought a new stake in Commvault Systems during the 1st quarter valued at approximately $535,000. 93.50% of the stock is currently owned by institutional investors.

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.