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

Commvault Systems (NASDAQ:CVLTGet Free Report) was upgraded by equities research analysts at William Blair from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports.

A number of other equities research analysts have also issued reports on the stock. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a report on Wednesday. Cantor Fitzgerald upped their target price on shares of Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research report on Wednesday. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Oppenheimer started coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 target price on the stock. Finally, KeyCorp upped their target price on shares of Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $156.44.

Read Our Latest Stock Analysis on CVLT

Commvault Systems Trading Down 8.3 %

Shares of CVLT opened at $146.82 on Thursday. Commvault Systems has a 12-month low of $83.60 and a 12-month high of $178.72. The firm has a 50-day moving average price of $163.11 and a 200 day moving average price of $153.93. The firm has a market capitalization of $6.42 billion, a P/E ratio of 37.17 and a beta of 0.65.

Commvault Systems (NASDAQ:CVLTGet Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The firm had revenue of $233.28 million during the quarter, compared to analyst estimates of $220.76 million. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Commvault Systems’s quarterly revenue was up 16.1% on a year-over-year basis. Equities research analysts predict that Commvault Systems will post 1.65 earnings per share for the current fiscal year.

Insider Transactions at Commvault Systems

In related news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction of $212,520.00. Following the sale, the director now directly owns 5,899 shares in the company, valued at approximately $1,017,577.50. This represents a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary Merrill sold 1,523 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was 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 $15,335,924.23. The trade was a 1.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,530 shares of company stock valued at $2,244,755. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Commvault Systems

A number of large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in Commvault Systems by 604.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker’s stock valued at $98,479,000 after purchasing an additional 555,656 shares during the last quarter. Summit Partners Public Asset Management LLC purchased a new position in Commvault Systems in the third quarter valued at approximately $67,722,000. Charles Schwab Investment Management Inc. grew its position in shares of Commvault Systems by 25.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after acquiring an additional 120,779 shares during the last quarter. Congress Asset Management Co. grew its position in shares of Commvault Systems by 29.4% during the third quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker’s stock worth $75,719,000 after acquiring an additional 111,715 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Commvault Systems during the third quarter worth approximately $15,264,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

About Commvault Systems

(Get Free Report)

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.

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Analyst Recommendations for Commvault Systems (NASDAQ:CVLT)

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