Commvault Systems (NASDAQ:CVLT) Upgraded at StockNews.com

StockNews.com upgraded shares of Commvault Systems (NASDAQ:CVLT) from a buy rating to a strong-buy rating in a research note released on Thursday.

CVLT has been the topic of a number of other research reports. 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 note on Friday, September 6th. Piper Sandler boosted their price target on shares of Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Royal Bank of Canada increased their price objective on shares of Commvault Systems from $121.00 to $152.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. KeyCorp boosted their target price on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Guggenheim downgraded shares of Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $140.00.

Commvault Systems Stock Performance

CVLT stock opened at $134.22 on Thursday. The company’s fifty day moving average price is $149.35 and its 200-day moving average price is $128.72. Commvault Systems has a one year low of $63.72 and a one year high of $165.73. The company has a market capitalization of $5.87 billion, a PE ratio of 35.70 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, beating the consensus estimate of $0.73 by $0.12. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The business had revenue of $224.67 million during the quarter, compared to the consensus estimate of $215.54 million. During the same quarter in the prior year, the firm earned $0.29 EPS. The business’s revenue was up 13.4% on a year-over-year basis. On average, research analysts predict that Commvault Systems will post 1.66 EPS for the current fiscal 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 completion of the sale, the director now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Gary Merrill sold 17,388 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the transaction, the insider now directly owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 7,131 shares of the company’s stock, valued at $1,097,389.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Commvault Systems

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Xponance Inc. increased its stake in shares of Commvault Systems by 1.3% during the second quarter. Xponance Inc. now owns 6,371 shares of the software maker’s stock valued at $775,000 after buying an additional 79 shares during the period. EFG Asset Management North America Corp. increased its position in Commvault Systems by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 21,699 shares of the software maker’s stock valued at $2,637,000 after purchasing an additional 103 shares during the period. Natixis Advisors LLC raised its holdings in shares of Commvault Systems by 1.0% in the 2nd quarter. Natixis Advisors LLC now owns 13,693 shares of the software maker’s stock valued at $1,665,000 after purchasing an additional 138 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Commvault Systems by 5.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock worth $328,000 after purchasing an additional 139 shares during the period. Finally, Parallel Advisors LLC boosted its stake in shares of Commvault Systems by 5.9% during the second quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker’s stock valued at $334,000 after purchasing an additional 153 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.