Commvault Systems (NASDAQ:CVLT) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Commvault Systems (NASDAQ:CVLT) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday.

A number of other research firms have also weighed in on CVLT. Royal Bank of Canada upped their target price on shares of Commvault Systems from $97.00 to $112.00 and gave the stock a sector perform rating in a report on Wednesday, May 1st. Lake Street Capital raised their target price on Commvault Systems from $86.00 to $98.00 and gave the company a hold rating in a report on Wednesday, May 1st. DA Davidson upped their price target on Commvault Systems from $125.00 to $135.00 and gave the stock a buy rating in a report on Friday, June 14th. Guggenheim restated a buy rating and set a $122.00 price objective on shares of Commvault Systems in a research note on Tuesday, June 25th. Finally, Wells Fargo & Company upped their target price on shares of Commvault Systems from $125.00 to $140.00 and gave the stock an overweight rating in a research note on Thursday, May 16th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Commvault Systems presently has a consensus rating of Moderate Buy and an average price target of $124.50.

Commvault Systems Stock Performance

Shares of Commvault Systems stock opened at $122.98 on Thursday. The stock has a market capitalization of $5.38 billion, a PE ratio of 32.71 and a beta of 0.61. Commvault Systems has a 52 week low of $63.70 and a 52 week high of $126.93. The stock has a 50 day moving average price of $114.92 and a two-hundred day moving average price of $99.82.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, April 30th. The software maker reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.10. Commvault Systems had a net margin of 20.13% and a return on equity of 31.27%. The business had revenue of $223.29 million during the quarter, compared to the consensus estimate of $213.00 million. Research analysts forecast that Commvault Systems will post 1.7 EPS for the current year.

Insiders Place Their Bets

In other news, Director Vivie Lee sold 2,500 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $112.19, for a total transaction of $280,475.00. Following the completion of the sale, the director now directly owns 13,589 shares of the company’s stock, valued at approximately $1,524,549.91. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Commvault Systems news, CEO Sanjay Mirchandani sold 15,975 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $110.20, for a total value of $1,760,445.00. Following the completion of the sale, the chief executive officer now directly owns 539,465 shares of the company’s stock, valued at $59,449,043. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vivie Lee sold 2,500 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $112.19, for a total value of $280,475.00. Following the completion of the sale, the director now owns 13,589 shares in the company, valued at $1,524,549.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,816 shares of company stock valued at $6,613,874. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Commvault Systems

Several large investors have recently added to or reduced their stakes in CVLT. GAMMA Investing LLC boosted its position in Commvault Systems by 140.5% during the second quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock worth $64,000 after purchasing an additional 309 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Commvault Systems by 700.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 800 shares of the software maker’s stock worth $81,000 after buying an additional 700 shares during the period. Headlands Technologies LLC bought a new stake in Commvault Systems during the 4th quarter valued at $67,000. EntryPoint Capital LLC lifted its position in shares of Commvault Systems by 123.9% during the first quarter. EntryPoint Capital LLC now owns 1,263 shares of the software maker’s stock worth $128,000 after acquiring an additional 699 shares in the last quarter. Finally, Ulland Investment Advisors LLC bought a new position in shares of Commvault Systems in the first quarter worth $180,000. 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.