Commvault Systems (NASDAQ:CVLT) Earns Overweight Rating from Analysts at KeyCorp

KeyCorp assumed coverage on shares of Commvault Systems (NASDAQ:CVLT) in a research note issued on Thursday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating and a $192.00 price target on the software maker’s stock. KeyCorp’s target price indicates a potential upside of 18.94% from the company’s previous close.

A number of other research analysts have also weighed in on CVLT. StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday. Guggenheim cut shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Oppenheimer assumed coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 target price on the stock. Finally, Royal Bank of Canada boosted their target price on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $154.00.

Commvault Systems Trading Up 0.6 %

Shares of CVLT stock opened at $161.42 on Thursday. The firm’s 50 day moving average is $165.33 and its 200 day moving average is $151.36. The stock has a market capitalization of $7.06 billion, a P/E ratio of 40.87 and a beta of 0.65. Commvault Systems has a 12 month low of $77.31 and a 12 month high of $178.72.

Commvault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. The firm 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 business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.30 earnings per share. On average, equities analysts predict that Commvault Systems will post 1.66 EPS for the current year.

Insider Buying and Selling

In other Commvault Systems news, insider Gary Merrill sold 1,523 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $164.89, for a total transaction of $251,127.47. Following the transaction, the insider now directly owns 93,007 shares in the company, valued at $15,335,924.23. This trade represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjay Mirchandani sold 10,775 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 459,969 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders sold 13,530 shares of company stock worth $2,244,755. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CVLT. Xponance Inc. boosted its holdings in Commvault Systems by 1.3% during the 2nd quarter. Xponance Inc. now owns 6,371 shares of the software maker’s stock valued at $775,000 after acquiring an additional 79 shares during the period. GAMMA Investing LLC boosted its stake in shares of Commvault Systems by 13.7% during the fourth quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker’s stock valued at $152,000 after purchasing an additional 121 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of Commvault Systems by 5.4% during the second quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock valued at $328,000 after purchasing an additional 139 shares during the period. Parallel Advisors LLC grew its holdings in Commvault Systems by 5.9% in the 2nd quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker’s stock worth $334,000 after acquiring an additional 153 shares during the last quarter. Finally, Lindenwold Advisors INC raised its stake in shares of Commvault Systems by 2.4% during the third quarter. Lindenwold Advisors INC now owns 7,028 shares of the software maker’s stock valued at $1,081,000 after acquiring an additional 164 shares during the last quarter. 93.50% of the stock is owned by 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.