Commvault Systems (NASDAQ:CVLT) Rating Increased 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 report released on Tuesday.

Other research analysts have also issued reports about the stock. Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Oppenheimer initiated coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They set an “outperform” rating and a $200.00 target price on the stock. DA Davidson increased their target price on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada increased their target price 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. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.25.

Commvault Systems Stock Down 0.2 %

CVLT opened at $150.91 on Tuesday. Commvault Systems has a twelve month low of $73.33 and a twelve month high of $178.72. The company has a fifty day moving average of $164.25 and a 200-day 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 (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The company had revenue of $233.28 million during the quarter, compared to analysts’ expectations of $220.76 million. During the same period in the prior year, the company posted $0.30 earnings per share. Commvault Systems’s revenue for the quarter was up 16.1% compared to the same quarter last year. Sell-side analysts anticipate that Commvault Systems will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling at Commvault Systems

In related news, insider Gary Merrill sold 1,523 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $164.89, for a total transaction of $251,127.47. Following the transaction, the insider now directly owns 93,007 shares of the company’s stock, valued at $15,335,924.23. This trade represents a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjay Mirchandani sold 10,775 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 459,969 shares in the company, valued at $76,032,875.70. The trade was a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,530 shares of company stock valued at $2,244,755. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

A number of large investors have recently added to or reduced their stakes in CVLT. Renaissance Technologies LLC increased its stake in shares of Commvault Systems by 7.5% in the second quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock worth $220,466,000 after purchasing an additional 126,800 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Commvault Systems by 0.3% in the second quarter. Acadian Asset Management LLC now owns 1,601,057 shares of the software maker’s stock worth $194,606,000 after purchasing an additional 4,422 shares in the last quarter. State Street Corp increased its stake in shares of Commvault Systems by 1.6% in the third quarter. State Street Corp now owns 1,594,045 shares of the software maker’s stock worth $245,244,000 after purchasing an additional 25,082 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Commvault Systems by 33.5% in the second quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock worth $78,882,000 after purchasing an additional 162,722 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased 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 worth $90,278,000 after purchasing an additional 120,779 shares in the last quarter. 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.