Commvault Systems (NASDAQ:CVLT) Now Covered by Oppenheimer

Oppenheimer began coverage on shares of Commvault Systems (NASDAQ:CVLT) in a research report released on Wednesday, MarketBeat reports. The brokerage issued an outperform rating and a $200.00 price objective on the software maker’s stock.

Several other equities research analysts have also recently commented on the company. DA Davidson lifted their target price on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Royal Bank of Canada boosted their price target on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. KeyCorp upped their target price on Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Finally, Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $151.25.

Commvault Systems Stock Up 4.1 %

CVLT opened at $176.57 on Wednesday. The firm has a market capitalization of $7.72 billion, a P/E ratio of 44.70 and a beta of 0.59. The stock’s 50 day moving average price is $152.65 and its two-hundred day moving average price is $134.89. Commvault Systems has a 12-month low of $68.02 and a 12-month high of $177.58.

Commvault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, topping the consensus estimate of $0.76 by $0.07. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The business had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. During the same quarter last year, the company earned $0.30 EPS. Commvault Systems’s revenue was up 16.1% on a year-over-year basis. As a group, analysts anticipate that Commvault Systems will post 1.65 earnings per share for the current year.

Insider Activity

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

Hedge Funds Weigh In On Commvault Systems

Several hedge funds have recently modified their holdings of the company. National Bank of Canada FI purchased a new position in Commvault Systems in the 2nd quarter valued at approximately $30,000. Capital Performance Advisors LLP purchased a new position in shares of Commvault Systems during the 3rd quarter valued at $33,000. Hexagon Capital Partners LLC lifted its holdings in shares of Commvault Systems by 124.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock worth $43,000 after acquiring an additional 196 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Commvault Systems by 70.8% during the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after acquiring an additional 170 shares during the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Commvault Systems during the 2nd quarter worth $56,000. Institutional investors own 93.50% of the company’s stock.

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.