Commvault Systems’ (CVLT) Neutral Rating Reiterated at Guggenheim

Guggenheim restated their neutral rating on shares of Commvault Systems (NASDAQ:CVLT) in a research report sent to investors on Wednesday,Benzinga reports.

Several other research firms also recently weighed in on CVLT. Oppenheimer began coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target for the company. Cantor Fitzgerald upped their price target on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research note on Wednesday. KeyCorp raised their price objective on Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday. Royal Bank of Canada upped their target price 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. Finally, StockNews.com downgraded shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $156.44.

Commvault Systems Price Performance

Shares of Commvault Systems stock opened at $159.26 on Wednesday. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of 41.80 and a beta of 0.65. The stock’s 50-day moving average is $162.55 and its 200 day moving average is $154.21. Commvault Systems has a one year low of $88.34 and a one year high of $178.72.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, topping the consensus estimate of $0.76 by $0.07. The company had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 EPS. On average, sell-side analysts expect that Commvault Systems will post 1.68 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sanjay Mirchandani sold 10,775 shares of Commvault Systems stock in a transaction on Monday, November 18th. The stock was sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the sale, the chief executive officer now directly owns 459,969 shares in the company, valued at approximately $76,032,875.70. This trade represents a 2.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,530 shares of company stock worth $2,244,755. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Commvault Systems

A number of hedge funds have recently made changes to their positions in the business. State Street Corp increased its holdings in Commvault Systems by 1.6% during the third quarter. State Street Corp now owns 1,594,045 shares of the software maker’s stock worth $245,244,000 after buying an additional 25,082 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Commvault Systems by 604.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker’s stock worth $98,479,000 after purchasing an additional 555,656 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Commvault Systems by 25.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after purchasing an additional 120,779 shares during the last quarter. Congress Asset Management Co. raised its holdings in shares of Commvault Systems by 5.7% in the 4th quarter. Congress Asset Management Co. now owns 520,378 shares of the software maker’s stock worth $78,530,000 after purchasing an additional 28,216 shares during the period. Finally, FMR LLC lifted its stake in Commvault Systems by 26.1% in the third quarter. FMR LLC now owns 466,315 shares of the software maker’s stock valued at $71,743,000 after purchasing an additional 96,525 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.