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

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

Several other brokerages also recently commented on CVLT. KeyCorp raised their price target on shares of Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. DA Davidson increased their price objective on Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Royal Bank of Canada lifted their price objective 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. Finally, Piper Sandler increased their target price on Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Commvault Systems currently has an average rating of “Moderate Buy” and an average price target of $140.00.

Commvault Systems Stock Performance

Shares of NASDAQ CVLT opened at $134.22 on Thursday. Commvault Systems has a fifty-two week low of $63.72 and a fifty-two week high of $165.73. The stock has a market cap of $5.87 billion, a PE ratio of 35.70 and a beta of 0.60. The stock has a fifty day moving average of $149.35 and a 200-day moving average of $128.50.

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

Insider Activity

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

Hedge Funds Weigh In On Commvault Systems

Several hedge funds have recently made changes to their positions in CVLT. Diversify Wealth Management LLC bought a new stake in Commvault Systems in the third quarter valued at $520,000. Pinnacle Associates Ltd. raised its holdings in Commvault Systems by 2.7% in the 3rd quarter. Pinnacle Associates Ltd. now owns 242,873 shares of the software maker’s stock worth $37,366,000 after purchasing an additional 6,461 shares in the last quarter. New York State Teachers Retirement System lifted its position in shares of Commvault Systems by 3.8% in the 3rd quarter. New York State Teachers Retirement System now owns 64,397 shares of the software maker’s stock worth $9,907,000 after purchasing an additional 2,334 shares during the period. Diversify Advisory Services LLC bought a new stake in shares of Commvault Systems during the 3rd quarter valued at about $238,000. Finally, Semanteon Capital Management LP bought a new stake in shares of Commvault Systems during the 3rd quarter valued at about $359,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

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.