CommVault Systems (NASDAQ:CVLT) Raised to “Strong-Buy” at Baird R W

CommVault Systems (NASDAQ:CVLT) was upgraded by equities research analysts at Baird R W to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the company. Royal Bank Of Canada upped their price objective on CommVault Systems from $185.00 to $217.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 30th. Wall Street Zen downgraded shares of CommVault Systems from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of CommVault Systems in a research note on Wednesday, October 8th. Wells Fargo & Company boosted their price objective on shares of CommVault Systems from $190.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $220.00 target price on shares of CommVault Systems in a report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, CommVault Systems has a consensus rating of “Moderate Buy” and a consensus price target of $212.00.

CommVault Systems Stock Performance

Shares of CVLT opened at $174.15 on Monday. The stock has a market capitalization of $7.74 billion, a P/E ratio of 96.75 and a beta of 0.72. CommVault Systems has a 1 year low of $128.07 and a 1 year high of $200.68. The company’s fifty day moving average is $180.63 and its two-hundred day moving average is $176.53.

CommVault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, July 29th. The software maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.04. The business had revenue of $281.98 million for the quarter, compared to the consensus estimate of $267.83 million. CommVault Systems had a net margin of 7.70% and a return on equity of 30.83%. The company’s revenue was up 26% on a year-over-year basis. Sell-side analysts predict that CommVault Systems will post 1.65 EPS for the current year.

Insider Buying and Selling at CommVault Systems

In related news, CFO Jennifer Leigh Dirico sold 14,909 shares of CommVault Systems stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $182.22, for a total transaction of $2,716,717.98. Following the completion of the transaction, the chief financial officer directly owned 45,143 shares in the company, valued at $8,225,957.46. The trade was a 24.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gary Merrill sold 15,244 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $178.01, for a total value of $2,713,584.44. Following the completion of the sale, the insider directly owned 71,837 shares in the company, valued at approximately $12,787,704.37. The trade was a 17.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,942 shares of company stock worth $10,019,157 over the last ninety days. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CommVault Systems

A number of institutional investors have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of CommVault Systems during the third quarter valued at $278,000. Vision Capital Management Inc. lifted its holdings in CommVault Systems by 437.5% in the 3rd quarter. Vision Capital Management Inc. now owns 17,194 shares of the software maker’s stock valued at $3,246,000 after purchasing an additional 13,995 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of CommVault Systems by 27.4% during the 3rd quarter. SG Americas Securities LLC now owns 6,649 shares of the software maker’s stock worth $1,255,000 after purchasing an additional 1,429 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of CommVault Systems by 24.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 69,325 shares of the software maker’s stock worth $13,087,000 after buying an additional 13,517 shares in the last quarter. Finally, True Wealth Design LLC raised its position in shares of CommVault Systems by 244.6% in the third quarter. True Wealth Design LLC now owns 286 shares of the software maker’s stock valued at $54,000 after buying an additional 203 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

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.