Commvault Systems (NASDAQ:CVLT) Upgraded at KeyCorp

KeyCorp upgraded shares of Commvault Systems (NASDAQ:CVLT) to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a 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 company a “sector perform” rating in a report on Wednesday, October 30th. Finally, Oppenheimer initiated 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 for the company. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Commvault Systems has an average rating of “Moderate Buy” and a consensus price target of $154.56.

Commvault Systems Price Performance

Shares of Commvault Systems stock opened at $161.28 on Wednesday. The firm has a market cap of $7.05 billion, a PE ratio of 40.83 and a beta of 0.65. Commvault Systems has a 1 year low of $77.56 and a 1 year high of $178.72. The stock has a fifty day moving average price of $164.92 and a 200-day moving average price of $151.71.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 earnings per share. As a group, equities analysts anticipate 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 transaction of $251,127.47. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $172.50, for a total value of $212,520.00. Following the completion of the transaction, the director now owns 5,899 shares in the company, valued at $1,017,577.50. This represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,530 shares of company stock valued at $2,244,755 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Capital Performance Advisors LLP purchased a new stake in Commvault Systems in the third quarter valued at approximately $33,000. Point72 DIFC Ltd purchased a new stake in shares of Commvault Systems during the 3rd quarter valued at $71,000. Signaturefd LLC lifted its holdings in shares of Commvault Systems by 43.9% during the 3rd quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock worth $91,000 after acquiring an additional 180 shares during the last quarter. TD Private Client Wealth LLC purchased a new position in Commvault Systems in the third quarter worth $105,000. Finally, Centaurus Financial Inc. bought a new position in Commvault Systems in the third quarter valued at $126,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.