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 issued to investors on Thursday.

Other analysts also recently issued research reports about the company. Piper Sandler raised their price target on Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. KeyCorp raised their price target on Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Royal Bank of Canada raised their price target on Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. Finally, DA Davidson lifted their target price on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $140.00.

Commvault Systems Stock Up 1.0 %

NASDAQ:CVLT traded up $1.34 during trading hours on Thursday, reaching $134.48. 21,831 shares of the stock were exchanged, compared to its average volume of 343,501. The firm has a 50 day simple moving average of $149.67 and a 200-day simple moving average of $128.26. Commvault Systems has a 52 week low of $63.72 and a 52 week high of $165.73. The stock has a market capitalization of $5.89 billion, a P/E ratio of 35.41 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.12. The business had revenue of $224.67 million for the quarter, compared to the consensus estimate of $215.54 million. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The business’s revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the business posted $0.29 EPS. As a group, analysts expect that Commvault Systems will post 1.66 earnings per share for the current year.

Insider Activity

In other news, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction on 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 transaction, the insider now directly owns 94,530 shares in the company, valued at approximately $14,251,342.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction on 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 transaction, the insider now directly owns 94,530 shares in the company, valued at approximately $14,251,342.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction 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 transaction, the director now owns 7,131 shares in the company, valued at approximately $1,097,389.59. This trade 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 owned by insiders.

Hedge Funds Weigh In On Commvault Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Commvault Systems by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 5,531,703 shares of the software maker’s stock valued at $561,081,000 after purchasing an additional 43,333 shares during the period. Renaissance Technologies LLC boosted its position in Commvault Systems by 7.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock worth $220,466,000 after acquiring an additional 126,800 shares during the period. Acadian Asset Management LLC boosted its position in Commvault Systems by 0.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,601,057 shares of the software maker’s stock worth $194,606,000 after acquiring an additional 4,422 shares during the period. Champlain Investment Partners LLC boosted its position in Commvault Systems by 58.5% during the 1st quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker’s stock worth $83,704,000 after acquiring an additional 304,459 shares during the period. Finally, AQR Capital Management LLC boosted its position in Commvault Systems by 33.5% during the 2nd quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock worth $78,882,000 after acquiring an additional 162,722 shares during the period. Institutional investors and hedge funds 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.