Commvault Systems (NASDAQ:CVLT – Get Free Report) was upgraded by analysts at KeyCorp to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.
Other equities research analysts have also issued research reports about the company. Royal Bank of Canada boosted their price target on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Oppenheimer started coverage on Commvault Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target for the company. Finally, Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research report 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $154.00.
Read Our Latest Report on CVLT
Commvault Systems Stock Performance
Commvault Systems (NASDAQ:CVLT – Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The business’s revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 EPS. On average, analysts predict that Commvault Systems will post 1.66 EPS for the current year.
Insider Activity at Commvault Systems
In other news, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $172.50, for a total transaction of $212,520.00. Following the sale, the director now owns 5,899 shares in the company, valued at $1,017,577.50. This trade represents a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 of the company’s stock, valued at $76,032,875.70. The trade was a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,530 shares of company stock valued at $2,244,755 over the last quarter. Insiders own 1.00% of the company’s stock.
Institutional Trading of Commvault Systems
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC boosted its position in shares of Commvault Systems by 5.4% in the second quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock worth $328,000 after acquiring an additional 139 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Commvault Systems by 3.1% in the 2nd quarter. American Century Companies Inc. now owns 25,499 shares of the software maker’s stock valued at $3,100,000 after purchasing an additional 772 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Commvault Systems by 30.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 57,198 shares of the software maker’s stock valued at $6,954,000 after buying an additional 13,472 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Commvault Systems by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 523,474 shares of the software maker’s stock valued at $63,637,000 after buying an additional 2,633 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of Commvault Systems by 11.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,984 shares of the software maker’s stock worth $484,000 after buying an additional 420 shares during the last quarter. Hedge funds and other 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.
Featured Articles
- Five stocks we like better than Commvault Systems
- Most Volatile Stocks, What Investors Need to Know
- Cerence AI: One-Hit Wonder or Long-Term Winner After NVIDIA Pact?
- ESG Stocks, What Investors Should Know
- UnitedHealth Group Pulls Back Into Another Healthy Opportunity
- Investing In Preferred Stock vs. Common Stock
- Micron Technology: Riding the AI Wave to Long-Term Growth
Receive News & Ratings for Commvault Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commvault Systems and related companies with MarketBeat.com's FREE daily email newsletter.