Commvault Systems (NASDAQ:CVLT) Coverage Initiated at Oppenheimer

Oppenheimer started coverage on shares of Commvault Systems (NASDAQ:CVLT - Free Report) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $200.00 price target on the software maker's stock.

Several other research analysts also recently commented on the stock. DA Davidson raised their price target on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. Guggenheim downgraded shares of Commvault Systems from a "buy" rating to a "neutral" rating in a research report on Tuesday, October 15th. Royal Bank of Canada increased their price target 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. KeyCorp boosted their price target on Commvault Systems from $140.00 to $170.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Finally, StockNews.com lowered Commvault Systems from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $151.25.

Commvault Systems Stock Performance

Shares of Commvault Systems stock traded up $6.06 during trading hours on Wednesday, hitting $175.74. The company's stock had a trading volume of 273,618 shares, compared to its average volume of 356,299. Commvault Systems has a 12-month low of $68.02 and a 12-month high of $177.39. The business has a 50 day moving average price of $151.68 and a two-hundred day moving average price of $134.09. The company has a market cap of $7.69 billion, a PE ratio of 44.33 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 31.62% and a net margin of 19.75%. During the same period in the prior year, the company posted $0.30 EPS. The firm's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, research analysts anticipate that Commvault Systems will post 1.65 earnings per share for the current year.

Insider Activity at Commvault Systems

In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the completion of the transaction, the insider now owns 94,530 shares of the company's stock, valued at $14,251,342.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Allison Pickens sold 1,232 shares of the company's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.89, for a total transaction of $189,592.48. Following the completion of the sale, the director now owns 7,131 shares of the company's stock, valued at approximately $1,097,389.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary Merrill sold 17,388 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the completion of the sale, the insider now owns 94,530 shares of the company's stock, valued at approximately $14,251,342.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Commvault Systems

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its stake in Commvault Systems by 504.6% during the second quarter. SG Americas Securities LLC now owns 13,016 shares of the software maker's stock worth $1,582,000 after buying an additional 10,863 shares during the last quarter. Ontario Teachers Pension Plan Board increased its position in shares of Commvault Systems by 23.4% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 25,770 shares of the software maker's stock valued at $2,614,000 after purchasing an additional 4,888 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Commvault Systems during the first quarter worth approximately $595,000. Intech Investment Management LLC purchased a new stake in shares of Commvault Systems in the 2nd quarter valued at about $2,221,000. Finally, BOKF NA raised its stake in Commvault Systems by 55.3% during the 1st quarter. BOKF NA now owns 3,119 shares of the software maker's stock valued at $313,000 after acquiring an additional 1,110 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other 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.