Commvault Systems (NASDAQ:CVLT) Upgraded 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 morning, Marketbeat.com reports.

CVLT has been the topic of several other reports. Guggenheim reiterated a “neutral” rating on shares of Commvault Systems in a research note on Wednesday. Oppenheimer began coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price target on the stock. KeyCorp boosted their target price on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Finally, Royal Bank of Canada lifted their price objective on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $156.44.

Commvault Systems Trading Up 7.5 %

Shares of CVLT stock opened at $157.90 on Thursday. The company has a market capitalization of $6.90 billion, a P/E ratio of 41.44 and a beta of 0.65. The business’s 50 day moving average is $163.11 and its two-hundred day moving average is $153.93. Commvault Systems has a 12-month low of $88.34 and a 12-month high of $178.72.

Commvault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. The company had revenue of $233.28 million during the quarter, compared to analysts’ expectations of $220.76 million. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 EPS. On average, research analysts predict that Commvault Systems will post 1.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Commvault Systems

In other news, insider Gary Merrill sold 1,523 shares of the business’s 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 transaction, the insider now directly owns 93,007 shares of the company’s stock, valued at $15,335,924.23. The trade was a 1.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $172.50, for a total value of $212,520.00. Following the completion of the sale, the director now owns 5,899 shares of the company’s stock, valued at approximately $1,017,577.50. This represents a 17.28 % decrease in their ownership of the stock. 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 quarter. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Commvault Systems

A number of hedge funds have recently bought and sold shares of CVLT. Nisa Investment Advisors LLC lifted its stake in shares of Commvault Systems by 3.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker’s stock valued at $296,000 after buying an additional 66 shares in the last quarter. GAMMA Investing LLC grew its holdings in Commvault Systems by 13.7% in the 4th quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker’s stock worth $152,000 after acquiring an additional 121 shares during the last quarter. OLD National Bancorp IN raised its stake in Commvault Systems by 7.1% in the fourth quarter. OLD National Bancorp IN now owns 2,187 shares of the software maker’s stock worth $330,000 after buying an additional 145 shares in the last quarter. Lindenwold Advisors INC boosted its stake in Commvault Systems by 2.4% during the third quarter. Lindenwold Advisors INC now owns 7,028 shares of the software maker’s stock worth $1,081,000 after acquiring an additional 164 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in Commvault Systems by 43.9% in the 3rd quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock worth $91,000 after purchasing an additional 180 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

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.