Commvault Systems (NASDAQ:CVLT) Rating Increased to Outperform at William Blair

Commvault Systems (NASDAQ:CVLT) was upgraded by equities research analysts at William Blair from a “market perform” rating to an “outperform” rating in a report issued on Thursday,Briefing.com Automated Import reports.

A number of other equities research analysts also recently commented on the company. Oppenheimer assumed coverage on Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 target price for the company. Royal Bank of Canada raised their target price on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a report on Wednesday. StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Finally, KeyCorp raised their target price on Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $156.44.

Commvault Systems Price Performance

Shares of NASDAQ CVLT opened at $146.82 on Thursday. The stock has a fifty day moving average price of $163.11 and a 200 day moving average price of $153.93. Commvault Systems has a 1-year low of $83.60 and a 1-year high of $178.72. The company has a market cap of $6.42 billion, a PE ratio of 37.17 and a beta of 0.65.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The firm had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. During the same period last year, the company earned $0.30 earnings per share. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. Analysts anticipate that Commvault Systems will post 1.65 earnings per share for the current fiscal year.

Insider Transactions at Commvault Systems

In related news, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction dated Friday, November 29th. The stock was 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 owns 5,899 shares in the company, valued at approximately $1,017,577.50. This trade represents a 17.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $164.89, for a total value of $251,127.47. Following the sale, the insider now owns 93,007 shares of the company’s stock, valued at approximately $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 valued at $2,244,755 in the last 90 days. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Commvault Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in Commvault Systems by 1.6% in the 3rd quarter. State Street Corp now owns 1,594,045 shares of the software maker’s stock valued at $245,244,000 after buying an additional 25,082 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Commvault Systems by 604.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker’s stock valued at $98,479,000 after buying an additional 555,656 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Commvault Systems by 25.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock valued at $90,278,000 after buying an additional 120,779 shares during the period. Congress Asset Management Co. grew its holdings in Commvault Systems by 29.4% in the 3rd quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker’s stock valued at $75,719,000 after buying an additional 111,715 shares during the period. Finally, FMR LLC grew its holdings in Commvault Systems by 26.1% in the 3rd quarter. FMR LLC now owns 466,315 shares of the software maker’s stock valued at $71,743,000 after buying an additional 96,525 shares during the period. 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.