Commvault Systems (NASDAQ:CVLT) Raised to Strong-Buy at StockNews.com

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

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

Commvault Systems Stock Down 0.2 %

Shares of CVLT stock opened at $150.91 on Tuesday. Commvault Systems has a 12 month low of $73.33 and a 12 month high of $178.72. The company has a market cap of $6.60 billion, a PE ratio of 38.21 and a beta of 0.61. The business’s 50 day moving average is $164.62 and its two-hundred day moving average is $148.71.

Commvault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 19.75% and a return on equity of 31.62%. Commvault Systems’s revenue was up 16.1% compared to the same quarter last year. During the same period last year, the business posted $0.30 EPS. As a group, equities analysts expect that Commvault Systems will post 1.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Sanjay Mirchandani sold 10,775 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $165.30, for a total value of $1,781,107.50. Following the completion of the transaction, the chief executive officer now directly owns 459,969 shares of the company’s stock, valued at approximately $76,032,875.70. This represents a 2.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gary Merrill sold 1,523 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $164.89, for a total value of $251,127.47. Following the completion of the sale, the insider now directly owns 93,007 shares in the company, valued at approximately $15,335,924.23. This represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,530 shares of company stock worth $2,244,755 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Commvault Systems

Institutional investors have recently added to or reduced their stakes in the company. Summit Partners Public Asset Management LLC acquired a new stake in shares of Commvault Systems during the third quarter worth approximately $67,722,000. AQR Capital Management LLC grew its position in Commvault Systems by 33.5% during the 2nd quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock worth $78,882,000 after acquiring an additional 162,722 shares during the last quarter. Renaissance Technologies LLC increased its holdings in 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 purchasing an additional 126,800 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Commvault Systems by 25.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock valued at $90,278,000 after purchasing an additional 120,779 shares during the last quarter. Finally, Congress Asset Management Co. boosted its stake in Commvault Systems by 29.4% in the third quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker’s stock worth $75,719,000 after purchasing an additional 111,715 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

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.