Commvault Systems (NASDAQ:CVLT) Upgraded to “Strong-Buy” at StockNews.com

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

Other analysts have also issued research reports about the company. Piper Sandler upped their target price on Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a report on Monday, July 15th. DA Davidson upped 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. KeyCorp upped their price objective on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada increased their target price on Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.00.

Commvault Systems Stock Up 1.0 %

CVLT stock traded up $1.34 on Thursday, reaching $134.48. 21,831 shares of the company’s stock were exchanged, compared to its average volume of 343,501. The stock has a fifty day moving average of $149.67 and a 200-day moving average of $128.26. Commvault Systems has a twelve month low of $63.72 and a twelve month high of $165.73. The firm has a market cap of $5.89 billion, a PE ratio of 35.41 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The firm had revenue of $224.67 million for the quarter, compared to analyst estimates of $215.54 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. Commvault Systems’s quarterly revenue was up 13.4% on a year-over-year basis. On average, equities research analysts predict that Commvault Systems will post 1.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,097,389.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the completion of the sale, the insider now directly owns 94,530 shares in the company, valued at $14,251,342.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the sale, the director now owns 7,131 shares of the company’s stock, valued at $1,097,389.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Commvault Systems

A number of large investors have recently modified their holdings of CVLT. Vanguard Group Inc. grew its stake in shares of Commvault Systems by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,488,370 shares of the software maker’s stock valued at $438,246,000 after buying an additional 61,556 shares in the last quarter. Diversified Trust Co grew its stake in shares of Commvault Systems by 33.2% in the first quarter. Diversified Trust Co now owns 8,523 shares of the software maker’s stock valued at $864,000 after buying an additional 2,122 shares in the last quarter. State of Michigan Retirement System grew its stake in shares of Commvault Systems by 1.9% in the first quarter. State of Michigan Retirement System now owns 10,712 shares of the software maker’s stock valued at $1,087,000 after buying an additional 200 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Commvault Systems by 7.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,379 shares of the software maker’s stock valued at $2,168,000 after buying an additional 1,540 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Commvault Systems by 44.9% in the first quarter. BNP Paribas Financial Markets now owns 78,281 shares of the software maker’s stock valued at $7,940,000 after buying an additional 24,243 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.