Commvault Systems (NASDAQ:CVLT) Upgraded to Overweight at KeyCorp

KeyCorp upgraded shares of Commvault Systems (NASDAQ:CVLTFree Report) from a sector weight rating to an overweight rating in a research note issued to investors on Wednesday morning, MarketBeat.com reports. KeyCorp currently has $109.00 target price on the software maker’s stock.

Separately, StockNews.com initiated coverage on Commvault Systems in a research report on Thursday, October 5th. They issued a strong-buy rating on the stock. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $85.60.

View Our Latest Analysis on CVLT

Commvault Systems Trading Up 4.1 %

NASDAQ:CVLT opened at $91.68 on Wednesday. The stock’s 50-day moving average is $77.76 and its 200-day moving average is $72.32. Commvault Systems has a 1-year low of $53.70 and a 1-year high of $92.81. The stock has a market cap of $4.01 billion, a P/E ratio of -218.28 and a beta of 0.63.

Commvault Systems (NASDAQ:CVLTGet Free Report) last posted its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The firm had revenue of $216.81 million for the quarter, compared to analyst estimates of $208.01 million. Commvault Systems had a negative net margin of 2.28% and a positive return on equity of 23.96%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 EPS. As a group, equities analysts forecast that Commvault Systems will post 1.31 EPS for the current year.

Insider Buying and Selling

In other Commvault Systems news, CRO Blasio Riccardo Di sold 1,321 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $69.34, for a total transaction of $91,598.14. Following the completion of the sale, the executive now directly owns 85,515 shares in the company, valued at approximately $5,929,610.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Allison Pickens sold 990 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $70.72, for a total transaction of $70,012.80. Following the transaction, the director now owns 8,196 shares in the company, valued at approximately $579,621.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Blasio Riccardo Di sold 1,321 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $69.34, for a total transaction of $91,598.14. Following the completion of the sale, the executive now owns 85,515 shares of the company’s stock, valued at $5,929,610.10. The disclosure for this sale can be found here. Insiders sold 20,141 shares of company stock valued at $1,401,371 over the last quarter. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Commvault Systems

Institutional investors have recently made changes to their positions in the stock. Quarry LP acquired a new stake in shares of Commvault Systems in the 1st quarter valued at about $26,000. Signaturefd LLC increased its holdings in shares of Commvault Systems by 728.3% during the second quarter. Signaturefd LLC now owns 381 shares of the software maker’s stock valued at $28,000 after acquiring an additional 335 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Commvault Systems by 64.0% during the second quarter. Captrust Financial Advisors now owns 510 shares of the software maker’s stock worth $32,000 after purchasing an additional 199 shares during the period. Altshuler Shaham Ltd acquired a new position in shares of Commvault Systems during the fourth quarter worth approximately $33,000. Finally, Quantbot Technologies LP bought a new position in shares of Commvault Systems in the 2nd quarter worth $64,000. Institutional investors and hedge funds own 91.56% of the company’s stock.

Commvault Systems Company Profile

(Get Free Report)

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.

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