Commvault Systems (NASDAQ:CVLT) Rating Increased to Outperform at William Blair

William Blair upgraded shares of Commvault Systems (NASDAQ:CVLT - Free Report) from a market perform rating to an outperform rating in a report published on Thursday, MarketBeat reports.

Several other brokerages have also weighed in on CVLT. Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a report on Wednesday. StockNews.com downgraded Commvault Systems from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 16th. Oppenheimer began coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They issued an "outperform" rating and a $200.00 price objective for the company. KeyCorp raised their price target on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Cantor Fitzgerald boosted their price objective on Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $156.44.

Commvault Systems Price Performance

Shares of CVLT stock traded up $10.13 during trading hours on Thursday, hitting $156.95. The stock had a trading volume of 441,461 shares, compared to its average volume of 484,183. The firm has a market capitalization of $6.86 billion, a PE ratio of 39.93 and a beta of 0.65. Commvault Systems has a twelve month low of $88.34 and a twelve month high of $178.72. The stock's 50 day moving average is $163.11 and its 200 day moving average is $153.93.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last issued its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping 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 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 in the prior year, the business posted $0.30 EPS. As a group, equities analysts predict that Commvault Systems will post 1.65 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $164.89, for a total value of $251,127.47. Following the transaction, the insider now directly owns 93,007 shares in the company, valued at approximately $15,335,924.23. The trade was a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction that occurred on 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 transaction, the director now directly owns 5,899 shares in the company, valued at approximately $1,017,577.50. This represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,530 shares of company stock valued at $2,244,755. Corporate insiders own 1.00% of the company's stock.

Institutional Trading of Commvault Systems

Institutional investors and hedge funds have recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of Commvault Systems during the 2nd quarter valued at $267,000. Creative Planning boosted its position in shares of Commvault Systems by 67.6% during the second quarter. Creative Planning now owns 7,321 shares of the software maker's stock worth $890,000 after buying an additional 2,954 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Commvault Systems by 49.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 58,020 shares of the software maker's stock worth $7,053,000 after acquiring an additional 19,300 shares in the last quarter. GAMMA Investing LLC increased its stake in Commvault Systems by 67.3% in the 3rd quarter. GAMMA Investing LLC now owns 885 shares of the software maker's stock valued at $136,000 after buying an additional 356 shares during the last quarter. Finally, Kesler Norman & Wride LLC bought a new stake in Commvault Systems during the third quarter worth about $613,000. 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.