Commvault Systems (NASDAQ:CVLT) Now Covered by Analysts at Oppenheimer

Oppenheimer started coverage on shares of Commvault Systems (NASDAQ:CVLT) in a research note released on Wednesday, MarketBeat Ratings reports. The firm issued an outperform rating and a $200.00 price target on the software maker’s stock.

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

Commvault Systems Trading Down 1.5 %

CVLT opened at $168.53 on Wednesday. The stock has a 50-day moving average of $153.10 and a 200 day moving average of $135.14. Commvault Systems has a 12 month low of $68.02 and a 12 month high of $178.29. The firm has a market cap of $7.37 billion, a P/E ratio of 42.60 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data 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 business had revenue of $233.28 million during the quarter, compared to analyst estimates 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 for the quarter was up 16.1% on a year-over-year basis. During the same period last year, the company earned $0.30 EPS. On average, research analysts forecast that Commvault Systems will post 1.66 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total value of $2,621,414.88. Following the transaction, the insider now directly owns 94,530 shares in the company, valued at approximately $14,251,342.80. This trade represents a 15.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the sale, the director now owns 7,131 shares of the company’s stock, valued at $1,097,389.59. This trade represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

A number of institutional investors have recently modified their holdings of the company. National Bank of Canada FI bought a new position in shares of Commvault Systems during the 2nd quarter worth approximately $30,000. Capital Performance Advisors LLP acquired a new stake in Commvault Systems in the third quarter valued at approximately $33,000. Hexagon Capital Partners LLC grew its holdings in Commvault Systems by 124.8% in the second quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock worth $43,000 after purchasing an additional 196 shares during the last quarter. Signaturefd LLC increased its position in shares of Commvault Systems by 70.8% during the second quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after purchasing an additional 170 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Commvault Systems during the 2nd quarter valued at $56,000. 93.50% of the stock is currently owned by 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.