Commvault Systems (NASDAQ:CVLT) Raised to Outperform at William Blair

William Blair upgraded shares of Commvault Systems (NASDAQ:CVLT) from a market perform rating to an outperform rating in a research note published on Thursday morning, MarketBeat reports.

Several other research firms also recently issued reports on CVLT. StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Royal Bank of Canada lifted their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald increased their target price on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research report on Wednesday. Oppenheimer started coverage on Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target for the company. Finally, Guggenheim restated a “neutral” rating on shares of Commvault Systems in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $156.44.

Commvault Systems Stock Performance

Shares of CVLT opened at $159.26 on Thursday. Commvault Systems has a 52 week low of $88.34 and a 52 week high of $178.72. The firm has a market cap of $6.96 billion, a P/E ratio of 41.80 and a beta of 0.65. The firm’s 50-day simple moving average is $162.55 and its 200 day simple moving average is $154.41.

Insider Activity

In related news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $172.50, for a total value of $212,520.00. Following the sale, 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 legal filing with the SEC, which is available at this hyperlink. Also, insider Gary Merrill sold 1,523 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 93,007 shares in the company, valued at $15,335,924.23. This trade represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,530 shares of company stock worth $2,244,755. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Commvault Systems

A number of hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its position in shares of Commvault Systems by 604.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker’s stock worth $98,479,000 after acquiring an additional 555,656 shares in the last quarter. Summit Partners Public Asset Management LLC acquired a new position in Commvault Systems during the 3rd quarter worth approximately $67,722,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Commvault Systems by 25.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock valued at $90,278,000 after buying an additional 120,779 shares in the last quarter. Congress Asset Management Co. lifted its position in Commvault Systems by 29.4% in the 3rd quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker’s stock valued at $75,719,000 after acquiring an additional 111,715 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in Commvault Systems in the 3rd quarter valued at $15,264,000. 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.