Commvault Systems (NASDAQ:CVLT) Stock Rating Upgraded by 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.

Other analysts have also recently issued reports about the stock. Piper Sandler raised their target price on shares of Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Royal Bank of Canada raised their target price on shares of Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. Guggenheim cut shares of Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. KeyCorp raised their target price on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, DA Davidson upped their price target on shares of Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

Commvault Systems Trading Up 0.8 %

NASDAQ CVLT opened at $134.22 on Thursday. Commvault Systems has a 52 week low of $63.72 and a 52 week high of $165.73. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 35.70 and a beta of 0.60. The company has a 50-day moving average price of $149.35 and a two-hundred day moving average price of $128.72.

Commvault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, topping the consensus estimate of $0.73 by $0.12. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The firm had revenue of $224.67 million during the quarter, compared to analysts’ expectations of $215.54 million. During the same quarter in the prior year, the firm earned $0.29 EPS. Commvault Systems’s quarterly revenue was up 13.4% on a year-over-year basis. As a group, equities research analysts expect that Commvault Systems will post 1.66 earnings per share for the current fiscal year.

Insider Activity at Commvault Systems

In related news, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total value of $2,621,414.88. Following the completion of the sale, the insider now owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total value of $2,621,414.88. Following the completion of the sale, the insider now owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.89, for a total transaction of $189,592.48. Following the completion of the sale, the director now directly owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Xponance Inc. increased its holdings in shares of Commvault Systems by 1.3% during the 2nd quarter. Xponance Inc. now owns 6,371 shares of the software maker’s stock worth $775,000 after purchasing an additional 79 shares during the period. EFG Asset Management North America Corp. increased its holdings in shares of Commvault Systems by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 21,699 shares of the software maker’s stock worth $2,637,000 after purchasing an additional 103 shares during the period. Natixis Advisors LLC increased its holdings in shares of Commvault Systems by 1.0% during the 2nd quarter. Natixis Advisors LLC now owns 13,693 shares of the software maker’s stock worth $1,665,000 after purchasing an additional 138 shares during the period. Commonwealth Equity Services LLC increased its stake in Commvault Systems by 5.4% in the second quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock valued at $328,000 after acquiring an additional 139 shares during the period. Finally, Parallel Advisors LLC increased its stake in Commvault Systems by 5.9% in the second quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker’s stock valued at $334,000 after acquiring an additional 153 shares during the period. 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.