Commvault Systems (NASDAQ:CVLT) Raised to “Strong-Buy” at KeyCorp

Commvault Systems (NASDAQ:CVLT) was upgraded by analysts at KeyCorp to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Several other equities analysts also recently commented on the stock. Royal Bank of Canada upped their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday. 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 target for the company. Finally, Guggenheim cut Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $154.00.

Commvault Systems Trading Up 0.2 %

Shares of NASDAQ CVLT opened at $161.71 on Wednesday. The stock’s 50-day moving average is $165.13 and its 200 day moving average is $151.43. The stock has a market cap of $7.07 billion, a price-to-earnings ratio of 40.94 and a beta of 0.65. Commvault Systems has a 1-year low of $77.31 and a 1-year high of $178.72.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The firm had revenue of $233.28 million during 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%. The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 EPS. On average, analysts forecast that Commvault Systems will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction on Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction of $212,520.00. Following the transaction, the director now owns 5,899 shares in the company, valued at $1,017,577.50. This trade represents a 17.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sanjay Mirchandani sold 10,775 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 459,969 shares of the company’s stock, valued at $76,032,875.70. This trade represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,530 shares of company stock valued at $2,244,755 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Commvault Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of Commvault Systems in the third quarter worth approximately $33,000. Point72 DIFC Ltd purchased a new position in shares of Commvault Systems during the 3rd quarter valued at $71,000. Signaturefd LLC boosted its holdings in Commvault Systems by 43.9% in the 3rd quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock worth $91,000 after buying an additional 180 shares during the period. TD Private Client Wealth LLC bought a new stake in Commvault Systems during the third quarter valued at about $105,000. Finally, Centaurus Financial Inc. bought a new position in shares of Commvault Systems in the third quarter worth about $126,000. 93.50% of the stock is owned by hedge funds and other 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.