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

William Blair upgraded shares of Commvault Systems (NASDAQ:CVLT) from a market perform rating to an outperform rating in a report published on Thursday, MarketBeat.com reports.

A number of other research analysts have also recently commented on CVLT. Oppenheimer began coverage on Commvault Systems in a research note on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price target on the stock. Cantor Fitzgerald lifted their target price on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research report on Wednesday. KeyCorp upped their price target on shares of Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday. StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Finally, Royal Bank of Canada boosted their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Commvault Systems 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 $157.90 on Thursday. The company has a market cap of $6.90 billion, a P/E ratio of 41.44 and a beta of 0.65. Commvault Systems has a 1 year low of $88.34 and a 1 year high of $178.72. The firm has a 50-day simple moving average of $163.11 and a two-hundred day simple moving average of $153.93.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. The business had revenue of $233.28 million for the quarter, compared to analysts’ expectations of $220.76 million. During the same quarter last year, the company earned $0.30 EPS. The business’s revenue was up 16.1% on a year-over-year basis. As a group, equities research analysts expect that Commvault Systems will post 1.68 EPS for the current year.

Insider Transactions at Commvault Systems

In other Commvault Systems news, CEO Sanjay Mirchandani sold 10,775 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $165.30, for a total value of $1,781,107.50. Following the sale, the chief executive officer now directly owns 459,969 shares in the company, valued at $76,032,875.70. This represents a 2.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gary Merrill sold 1,523 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $164.89, for a total transaction of $251,127.47. Following the sale, the insider now owns 93,007 shares in the company, valued at approximately $15,335,924.23. This trade represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,530 shares of company stock worth $2,244,755. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Commvault Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of CVLT. Capital Performance Advisors LLP purchased a new position in Commvault Systems in the third quarter worth about $33,000. TFC Financial Management Inc. raised its holdings in shares of Commvault Systems by 294.1% during the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock worth $61,000 after acquiring an additional 300 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Commvault Systems in the 3rd quarter valued at about $71,000. Signaturefd LLC boosted its stake in Commvault Systems by 43.9% during the third quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock worth $91,000 after buying an additional 180 shares during the period. Finally, TD Private Client Wealth LLC bought a new position in shares of Commvault Systems during the third quarter valued at approximately $105,000. 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.