Commvault Systems (NASDAQ:CVLT) Coverage Initiated at Oppenheimer

Oppenheimer assumed coverage on shares of Commvault Systems (NASDAQ:CVLT) in a research report released on Wednesday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $200.00 price target on the software maker’s stock.

Several other equities research analysts have also commented on CVLT. StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. KeyCorp lifted their price objective on Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. DA Davidson lifted 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. Finally, Royal Bank of Canada lifted their price objective on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Commvault Systems has a consensus rating of “Moderate Buy” and an average price target of $151.25.

Commvault Systems Price Performance

Shares of NASDAQ:CVLT opened at $168.53 on Wednesday. The business’s 50 day simple moving average is $153.68 and its 200-day simple moving average is $135.62. The firm has a market capitalization of $7.37 billion, a price-to-earnings ratio of 42.67 and a beta of 0.59. Commvault Systems has a 12 month low of $68.02 and a 12 month high of $178.29.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, topping the consensus estimate of $0.76 by $0.07. The business had revenue of $233.28 million for the quarter, compared to analyst estimates of $220.76 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.30 EPS. On average, equities analysts anticipate that Commvault Systems will post 1.66 earnings per share for the current year.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total value of $2,621,414.88. Following the completion of the transaction, the insider now directly owns 94,530 shares in the company, valued at approximately $14,251,342.80. The trade was a 15.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.89, for a total value of $189,592.48. Following the completion of the transaction, the director now owns 7,131 shares of the company’s stock, valued at $1,097,389.59. This trade represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Commvault Systems by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 5,531,703 shares of the software maker’s stock valued at $561,081,000 after buying an additional 43,333 shares during the period. Renaissance Technologies LLC grew its stake in shares of Commvault Systems by 7.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock valued at $220,466,000 after buying an additional 126,800 shares during the period. Acadian Asset Management LLC grew its stake in shares of Commvault Systems by 0.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,601,057 shares of the software maker’s stock valued at $194,606,000 after buying an additional 4,422 shares during the period. State Street Corp grew its stake in shares of Commvault Systems by 1.6% during the 3rd quarter. State Street Corp now owns 1,594,045 shares of the software maker’s stock valued at $245,244,000 after buying an additional 25,082 shares during the period. Finally, Champlain Investment Partners LLC grew its stake in shares of Commvault Systems by 58.5% during the 1st quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker’s stock valued at $83,704,000 after buying an additional 304,459 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

About Commvault Systems

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.