Commvault Systems (NASDAQ:CVLT) Coverage Initiated by Analysts at KeyCorp

KeyCorp assumed coverage on shares of Commvault Systems (NASDAQ:CVLT) in a research note released on Thursday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $192.00 price objective on the software maker’s stock.

A number of other research analysts have also issued reports on the company. Royal Bank of Canada boosted their price objective on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Guggenheim downgraded shares of Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, Oppenheimer assumed coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $154.00.

Commvault Systems Price Performance

Commvault Systems stock opened at $161.71 on Thursday. The company has a market cap of $7.07 billion, a PE ratio of 40.94 and a beta of 0.65. Commvault Systems has a 12 month low of $77.31 and a 12 month high of $178.72. The company has a fifty day moving average price of $165.13 and a two-hundred day moving average price of $151.43.

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, beating analysts’ consensus estimates of $0.76 by $0.07. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The business had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. During the same quarter in the prior year, the firm earned $0.30 EPS. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. Equities research analysts anticipate that Commvault Systems will post 1.66 earnings per share for the current year.

Insider Activity

In related news, Director Allison Pickens sold 1,232 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 5,899 shares of the company’s stock, valued at $1,017,577.50. This represents a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary Merrill sold 1,523 shares of the company’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 transaction, the insider now directly owns 93,007 shares in the company, valued at $15,335,924.23. This represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,530 shares of company stock worth $2,244,755 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Commvault Systems

A number of hedge funds have recently modified their holdings of the stock. Diversify Wealth Management LLC increased its stake in Commvault Systems by 19.3% in the 4th quarter. Diversify Wealth Management LLC now owns 4,033 shares of the software maker’s stock worth $621,000 after purchasing an additional 653 shares in the last quarter. Ellsworth Advisors LLC boosted its holdings in shares of Commvault Systems by 4.8% in the fourth quarter. Ellsworth Advisors LLC now owns 4,454 shares of the software maker’s stock worth $672,000 after buying an additional 202 shares during the period. Oak Ridge Investments LLC purchased a new position in shares of Commvault Systems in the fourth quarter worth approximately $2,561,000. CWA Asset Management Group LLC raised its holdings in shares of Commvault Systems by 20.4% during the fourth quarter. CWA Asset Management Group LLC now owns 7,994 shares of the software maker’s stock valued at $1,206,000 after acquiring an additional 1,355 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Commvault Systems by 13.7% in the 4th quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker’s stock valued at $152,000 after acquiring an additional 121 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Commvault Systems Company Profile

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.