Commvault Systems (NASDAQ:CVLT) Upgraded to Strong-Buy at KeyCorp

KeyCorp upgraded shares of Commvault Systems (NASDAQ:CVLT - Free Report) to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

Several other equities research analysts have also issued reports on CVLT. Guggenheim lowered shares of Commvault Systems from a "buy" rating to a "neutral" rating in a report on Tuesday, October 15th. Oppenheimer started coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They set an "outperform" rating and a $200.00 target price on the stock. StockNews.com cut Commvault Systems from a "strong-buy" rating to a "buy" rating in a research note on Thursday. Finally, Royal Bank of Canada boosted their price objective 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. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Commvault Systems has a consensus rating of "Moderate Buy" and a consensus target price of $154.56.

Commvault Systems Trading Down 0.3 %

NASDAQ CVLT traded down $0.43 on Wednesday, hitting $161.28. 402,050 shares of the company's stock were exchanged, compared to its average volume of 336,795. The stock has a 50-day moving average of $164.92 and a 200-day moving average of $151.71. The stock has a market cap of $7.05 billion, a price-to-earnings ratio of 40.83 and a beta of 0.65. Commvault Systems has a 52 week low of $77.56 and a 52 week high of $178.72.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings data 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%. Commvault Systems's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.30 EPS. As a group, analysts predict that Commvault Systems will post 1.66 earnings per share for the current year.

Insider Buying and Selling at Commvault Systems

In other news, CEO Sanjay Mirchandani sold 10,775 shares of the company's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $165.30, for a total value of $1,781,107.50. Following the sale, the chief executive officer now directly owns 459,969 shares of the company's stock, valued at approximately $76,032,875.70. This represents a 2.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction on Friday, November 29th. The stock was sold at an average price of $172.50, for a total transaction of $212,520.00. Following the transaction, the director now directly owns 5,899 shares of the company's stock, valued at $1,017,577.50. This represents a 17.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,530 shares of company stock worth $2,244,755. Insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC grew its stake in Commvault Systems by 3.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker's stock worth $296,000 after purchasing an additional 66 shares during the period. Xponance Inc. grew its position in shares of Commvault Systems by 1.3% during the 2nd quarter. Xponance Inc. now owns 6,371 shares of the software maker's stock worth $775,000 after buying an additional 79 shares during the period. GAMMA Investing LLC increased its stake in shares of Commvault Systems by 13.7% in the 4th quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker's stock valued at $152,000 after acquiring an additional 121 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Commvault Systems by 5.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker's stock valued at $328,000 after acquiring an additional 139 shares in the last quarter. Finally, Lindenwold Advisors INC lifted its position in shares of Commvault Systems by 2.4% during the 3rd 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 period. 93.50% of the stock is owned by institutional investors and hedge funds.

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.