Commvault Systems (NASDAQ:CVLT) Rating Increased to Strong-Buy at StockNews.com

Commvault Systems (NASDAQ:CVLT) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday.

Other equities analysts have also issued research reports about the company. Oppenheimer initiated coverage on Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target on the stock. Royal Bank of Canada lifted 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. DA Davidson upped their price objective 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. Finally, Guggenheim lowered Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $151.25.

Commvault Systems Stock Down 0.2 %

Shares of CVLT traded down $0.28 during midday trading on Tuesday, reaching $150.91. The company had a trading volume of 289,262 shares, compared to its average volume of 352,708. The firm has a 50 day simple moving average of $164.25 and a 200-day simple moving average of $148.69. The stock has a market cap of $6.60 billion, a PE ratio of 38.21 and a beta of 0.61. Commvault Systems has a 1-year low of $73.33 and a 1-year high of $178.72.

Commvault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $233.28 million for 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%. Commvault Systems’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 earnings per share. As a group, sell-side analysts anticipate that Commvault Systems will post 1.66 earnings per share for the current fiscal year.

Insider Transactions at Commvault Systems

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

Hedge Funds Weigh In On Commvault Systems

Several large investors have recently bought and sold shares of CVLT. Charles Schwab Investment Management Inc. grew its position in shares of Commvault Systems by 25.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after acquiring an additional 120,779 shares during the last quarter. Intech Investment Management LLC purchased a new position in Commvault Systems during the 2nd quarter worth $2,221,000. Summit Partners Public Asset Management LLC acquired a new position in Commvault Systems in the third quarter valued at $67,722,000. Vontobel Holding Ltd. purchased a new stake in shares of Commvault Systems in the third quarter valued at about $1,126,000. Finally, Point72 Hong Kong Ltd grew its holdings in shares of Commvault Systems by 37.9% during the third quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker’s stock worth $3,603,000 after buying an additional 6,433 shares during the last quarter. Institutional investors and hedge funds 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.