Commvault Systems (NASDAQ:CVLT) Coverage Initiated by Analysts at Oppenheimer

Oppenheimer began coverage on shares of Commvault Systems (NASDAQ:CVLT) in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $200.00 target price on the software maker’s stock.

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

Commvault Systems Trading Up 4.1 %

Shares of Commvault Systems stock opened at $176.57 on Wednesday. The company has a market cap of $7.72 billion, a P/E ratio of 44.70 and a beta of 0.59. The business has a 50-day moving average price of $152.65 and a two-hundred day moving average price of $134.89. Commvault Systems has a 1-year low of $68.02 and a 1-year 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 net margin of 19.75% and a return on equity of 31.62%. The firm had revenue of $233.28 million for the quarter, compared to analysts’ expectations of $220.76 million. During the same quarter last year, the firm earned $0.30 EPS. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. Equities research analysts forecast that Commvault Systems will post 1.65 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CVLT. SG Americas Securities LLC boosted its holdings in Commvault Systems by 504.6% in the 2nd quarter. SG Americas Securities LLC now owns 13,016 shares of the software maker’s stock worth $1,582,000 after acquiring an additional 10,863 shares during the period. Ontario Teachers Pension Plan Board increased its holdings in shares of Commvault Systems by 23.4% during the first quarter. Ontario Teachers Pension Plan Board now owns 25,770 shares of the software maker’s stock valued at $2,614,000 after purchasing an additional 4,888 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Commvault Systems during the first quarter valued at $595,000. Intech Investment Management LLC bought a new position in Commvault Systems during the second quarter valued at about $2,221,000. Finally, BOKF NA boosted its stake in Commvault Systems by 55.3% during the first quarter. BOKF NA now owns 3,119 shares of the software maker’s stock valued at $313,000 after buying an additional 1,110 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.