William Blair Upgrades Commvault Systems (NASDAQ:CVLT) to Outperform

Commvault Systems (NASDAQ:CVLT) was upgraded by analysts at William Blair from a “market perform” rating to an “outperform” rating in a research note issued on Thursday, MarketBeat Ratings reports.

Other analysts also recently issued research reports about the stock. Cantor Fitzgerald raised their price target on shares of Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday. StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a research note on Wednesday. Oppenheimer started coverage on Commvault Systems in a research note on Wednesday, November 13th. They set an “outperform” rating and a $200.00 target price on the stock. Finally, KeyCorp lifted their price target on shares of Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $156.44.

Commvault Systems Stock Up 0.9 %

Commvault Systems stock opened at $159.26 on Thursday. The stock’s 50 day moving average is $162.55 and its 200 day moving average is $154.21. Commvault Systems has a twelve month low of $88.34 and a twelve month high of $178.72. The company has a market capitalization of $6.96 billion, a P/E ratio of 41.80 and a beta of 0.65.

Commvault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. The firm had revenue of $233.28 million for the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. The business’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share. As a group, equities analysts expect that Commvault Systems will post 1.68 EPS for the current year.

Insider Buying and Selling

In related news, insider Gary Merrill sold 1,523 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was 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 owns 93,007 shares in the company, valued at approximately $15,335,924.23. The trade was a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Allison Pickens sold 1,232 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $172.50, for a total value of $212,520.00. Following the transaction, the director now directly owns 5,899 shares in the company, valued at $1,017,577.50. The trade was a 17.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,530 shares of company stock worth $2,244,755 over the last three months. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Susquehanna Fundamental Investments LLC bought a new stake in Commvault Systems during the 2nd quarter valued at $267,000. Creative Planning grew its holdings in shares of Commvault Systems by 67.6% during the second quarter. Creative Planning now owns 7,321 shares of the software maker’s stock valued at $890,000 after buying an additional 2,954 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Commvault Systems by 49.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 58,020 shares of the software maker’s stock valued at $7,053,000 after acquiring an additional 19,300 shares during the period. GAMMA Investing LLC raised its stake in Commvault Systems by 67.3% in the 3rd quarter. GAMMA Investing LLC now owns 885 shares of the software maker’s stock worth $136,000 after acquiring an additional 356 shares during the last quarter. Finally, Kesler Norman & Wride LLC acquired a new stake in Commvault Systems during the 3rd quarter worth about $613,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.