Commvault Systems (NASDAQ:CVLT) Now Covered by Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of Commvault Systems (NASDAQ:CVLT) in a report published on Friday, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $159.00 price objective on the software maker’s stock.

Several other equities analysts have also recently weighed in on the stock. KeyCorp started coverage on shares of Commvault Systems in a research report on Thursday. They issued an “overweight” rating and a $192.00 price target on the stock. Guggenheim lowered Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Oppenheimer assumed coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 target price on the stock. StockNews.com downgraded shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, Royal Bank of Canada lifted their price target on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Commvault Systems has an average rating of “Moderate Buy” and a consensus target price of $154.56.

Commvault Systems Stock Performance

Shares of Commvault Systems stock opened at $161.28 on Friday. Commvault Systems has a 52 week low of $77.56 and a 52 week high of $178.72. The stock has a 50 day moving average price of $164.92 and a two-hundred day moving average price of $151.71. The stock has a market capitalization of $7.05 billion, a PE ratio of 40.83 and a beta of 0.65.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 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 business had revenue of $233.28 million during the quarter, compared to analyst estimates of $220.76 million. During the same quarter in the previous year, the business posted $0.30 EPS. Commvault Systems’s quarterly revenue was up 16.1% on a year-over-year basis. Research analysts forecast that Commvault Systems will post 1.66 EPS for the current year.

Insider Buying and Selling at Commvault Systems

In other news, CEO Sanjay Mirchandani sold 10,775 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $165.30, for a total transaction 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 approximately $76,032,875.70. This represents a 2.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction dated Friday, November 29th. The stock was 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 directly owns 5,899 shares of the company’s stock, valued at approximately $1,017,577.50. This trade represents a 17.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,530 shares of company stock valued at $2,244,755. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

Institutional investors have recently modified their holdings of the business. Summit Partners Public Asset Management LLC bought a new stake in Commvault Systems during the 3rd quarter valued at $67,722,000. AQR Capital Management LLC grew its position in shares of Commvault Systems by 33.5% in the second quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock valued at $78,882,000 after purchasing an additional 162,722 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Commvault Systems by 25.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock valued at $90,278,000 after purchasing an additional 120,779 shares during the period. Congress Asset Management Co. lifted its holdings in Commvault Systems by 29.4% during the 3rd quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker’s stock worth $75,719,000 after purchasing an additional 111,715 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in Commvault Systems in the 3rd quarter worth about $15,264,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

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.