Commvault Systems (NASDAQ:CVLT) Raised to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Commvault Systems (NASDAQ:CVLT) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday.

Several other analysts also recently issued reports on the company. KeyCorp boosted their price target on Commvault Systems from $122.00 to $140.00 and gave the company an overweight rating in a research note on Tuesday, July 2nd. Wells Fargo & Company boosted their price target on Commvault Systems from $125.00 to $140.00 and gave the company an overweight rating in a research note on Thursday, May 16th. DA Davidson boosted their price target on Commvault Systems from $125.00 to $135.00 and gave the company a buy rating in a research note on Friday, June 14th. Guggenheim restated a buy rating and issued a $122.00 price target on shares of Commvault Systems in a research note on Tuesday, June 25th. Finally, Royal Bank of Canada upped their target price on Commvault Systems from $97.00 to $112.00 and gave the company a sector perform rating in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $124.50.

Commvault Systems Trading Up 0.0 %

Shares of NASDAQ CVLT opened at $122.99 on Thursday. Commvault Systems has a 12 month low of $63.70 and a 12 month high of $126.93. The stock has a 50 day moving average of $115.23 and a 200-day moving average of $100.40. The company has a market capitalization of $5.38 billion, a P/E ratio of 32.71 and a beta of 0.61.

Commvault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, April 30th. The software maker reported $0.42 EPS for the quarter, topping the consensus estimate of $0.32 by $0.10. Commvault Systems had a return on equity of 31.27% and a net margin of 20.13%. The company had revenue of $223.29 million during the quarter, compared to the consensus estimate of $213.00 million. Analysts predict that Commvault Systems will post 1.7 EPS for the current fiscal year.

Insider Transactions at Commvault Systems

In related news, Director Charles E. Moran sold 11,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $110.83, for a total transaction of $1,219,130.00. Following the completion of the sale, the director now directly owns 10,967 shares in the company, valued at approximately $1,215,472.61. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Charles E. Moran sold 11,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $110.83, for a total transaction of $1,219,130.00. Following the completion of the sale, the director now directly owns 10,967 shares in the company, valued at approximately $1,215,472.61. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Gary Merrill sold 661 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $110.58, for a total value of $73,093.38. Following the completion of the transaction, the chief financial officer now owns 114,373 shares of the company’s stock, valued at $12,647,366.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,816 shares of company stock valued at $6,613,874. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Commvault Systems

Several large investors have recently bought and sold shares of CVLT. Tudor Investment Corp Et Al bought a new position in Commvault Systems in the third quarter valued at about $2,611,000. Teachers Retirement System of The State of Kentucky raised its position in Commvault Systems by 90.7% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 15,278 shares of the software maker’s stock valued at $1,033,000 after purchasing an additional 7,265 shares during the last quarter. Vanguard Group Inc. raised its position in Commvault Systems by 2.7% in the third quarter. Vanguard Group Inc. now owns 5,426,814 shares of the software maker’s stock valued at $366,907,000 after purchasing an additional 144,625 shares during the last quarter. FCF Advisors LLC raised its position in shares of Commvault Systems by 81.6% during the fourth quarter. FCF Advisors LLC now owns 24,574 shares of the software maker’s stock worth $1,962,000 after acquiring an additional 11,043 shares during the last quarter. Finally, Diversified Trust Co raised its position in shares of Commvault Systems by 114.0% during the fourth quarter. Diversified Trust Co now owns 6,401 shares of the software maker’s stock worth $511,000 after acquiring an additional 3,410 shares during the last quarter. 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.