Commvault Systems (NASDAQ:CVLT) Upgraded by KeyCorp to Strong-Buy Rating

KeyCorp upgraded shares of Commvault Systems (NASDAQ:CVLT) to a strong-buy rating in a research note issued to investors on Wednesday,Zacks.com reports.

CVLT has been the topic of several other reports. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Royal Bank of Canada increased their price target 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. Oppenheimer assumed coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective for the company. Finally, Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $154.00.

Commvault Systems Trading Up 0.2 %

Shares of NASDAQ CVLT opened at $161.71 on Wednesday. The stock has a market capitalization of $7.07 billion, a PE ratio of 40.94 and a beta of 0.65. The stock has a fifty day simple moving average of $165.13 and a 200-day simple moving average of $151.43. Commvault Systems has a twelve month low of $77.31 and a twelve month high of $178.72.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $220.76 million. During the same quarter last year, the firm posted $0.30 earnings per share. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, equities analysts predict that Commvault Systems will post 1.66 earnings per share for the current year.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, CEO Sanjay Mirchandani sold 10,775 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 459,969 shares in the company, valued at $76,032,875.70. This represents a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 in the company, valued at $15,335,924.23. This trade represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,530 shares of company stock worth $2,244,755 over the last three months. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of Commvault Systems in the third quarter valued at approximately $33,000. Point72 DIFC Ltd acquired a new stake in Commvault Systems during the 3rd quarter worth $71,000. Signaturefd LLC grew its position in Commvault Systems by 43.9% during the 3rd quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock worth $91,000 after purchasing an additional 180 shares during the last quarter. TD Private Client Wealth LLC acquired a new position in Commvault Systems in the third quarter valued at $105,000. Finally, Centaurus Financial Inc. purchased a new stake in shares of Commvault Systems in the third quarter valued at about $126,000. 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.