Commvault Systems (NASDAQ:CVLT) Now Covered by Oppenheimer

Equities research analysts at Oppenheimer began coverage on shares of Commvault Systems (NASDAQ:CVLT) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $200.00 price target on the software maker’s stock. Oppenheimer’s price objective points to a potential upside of 16.94% from the company’s previous close.

A number of other equities research analysts also recently issued reports on CVLT. KeyCorp upped their price target on shares of Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Royal Bank of Canada upped their target price on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. DA Davidson upped their price objective on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, Guggenheim cut Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Commvault Systems has a consensus rating of “Moderate Buy” and a consensus target price of $151.25.

Commvault Systems Stock Down 3.1 %

Shares of Commvault Systems stock opened at $171.03 on Wednesday. Commvault Systems has a twelve month low of $68.02 and a twelve month high of $178.29. The business has a 50-day moving average price of $152.65 and a 200-day moving average price of $134.89. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of 43.50 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $233.28 million for the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS. On average, equities analysts expect that Commvault Systems will post 1.65 EPS for the current fiscal year.

Insider Activity

In other news, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.89, for a total transaction of $189,592.48. Following the completion of the sale, the director now directly owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. The trade was a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary Merrill sold 17,388 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 94,530 shares in the company, valued at $14,251,342.80. This represents a 15.54 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

Several institutional investors and hedge funds have recently modified their holdings of CVLT. Summit Partners Public Asset Management LLC purchased a new position in Commvault Systems during the 3rd quarter worth $67,722,000. Champlain Investment Partners LLC increased its stake in shares of Commvault Systems by 58.5% during the first quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker’s stock valued at $83,704,000 after buying an additional 304,459 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Commvault Systems by 16.3% in the first quarter. Acadian Asset Management LLC now owns 1,596,635 shares of the software maker’s stock valued at $161,914,000 after acquiring an additional 223,347 shares in the last quarter. AQR Capital Management LLC lifted its stake in Commvault Systems by 33.5% in the second 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. Finally, Renaissance Technologies LLC lifted its stake in Commvault Systems by 7.5% in the second 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. Institutional investors own 93.50% of the company’s stock.

Commvault Systems Company Profile

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.