CommVault Systems (NASDAQ:CVLT) Stock Rating Upgraded by Guggenheim

CommVault Systems (NASDAQ:CVLT) was upgraded by investment analysts at Guggenheim from a “neutral” rating to a “buy” rating in a report released on Wednesday, MarketBeat reports. The firm presently has a $210.00 price target on the software maker’s stock. Guggenheim’s target price suggests a potential upside of 22.91% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. DA Davidson upped their price target on shares of CommVault Systems from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Piper Sandler upped their price target on shares of CommVault Systems from $168.00 to $170.00 and gave the stock a “neutral” rating in a research note on Monday. KeyCorp dropped their price target on shares of CommVault Systems from $195.00 to $185.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Royal Bank Of Canada upped their price target on shares of CommVault Systems from $175.00 to $185.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 30th. Finally, Oppenheimer upped their price target on shares of CommVault Systems from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, CommVault Systems has an average rating of “Moderate Buy” and an average target price of $189.13.

CommVault Systems Stock Performance

Shares of CVLT opened at $170.85 on Wednesday. The firm has a market cap of $7.61 billion, a price-to-earnings ratio of 101.10 and a beta of 0.73. CommVault Systems has a fifty-two week low of $119.67 and a fifty-two week high of $192.01. The firm has a 50 day moving average price of $177.51 and a 200-day moving average price of $167.50.

CommVault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, topping the consensus estimate of $0.93 by $0.10. The company had revenue of $275.04 million for the quarter, compared to the consensus estimate of $262.52 million. CommVault Systems had a net margin of 7.64% and a return on equity of 32.31%. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 earnings per share. As a group, equities research analysts predict that CommVault Systems will post 1.65 earnings per share for the current year.

Insider Buying and Selling at CommVault Systems

In other CommVault Systems news, Director Nicola Adamo sold 1,500 shares of the business’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $169.74, for a total transaction of $254,610.00. Following the transaction, the director owned 16,178 shares of the company’s stock, valued at approximately $2,746,053.72. The trade was a 8.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gary Merrill sold 1,748 shares of the business’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $174.91, for a total value of $305,742.68. Following the transaction, the insider directly owned 89,923 shares in the company, valued at $15,728,431.93. This trade represents a 1.91% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,957 shares of company stock valued at $859,428. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On CommVault Systems

Several large investors have recently modified their holdings of CVLT. Nuveen LLC acquired a new stake in CommVault Systems in the 1st quarter valued at about $116,223,000. Invesco Ltd. raised its position in CommVault Systems by 57.7% in the 4th quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker’s stock valued at $250,527,000 after purchasing an additional 607,643 shares in the last quarter. Norges Bank acquired a new stake in CommVault Systems in the 4th quarter valued at about $79,619,000. Wedge Capital Management L L P NC raised its position in CommVault Systems by 1,936.0% in the 1st quarter. Wedge Capital Management L L P NC now owns 360,355 shares of the software maker’s stock valued at $56,850,000 after purchasing an additional 342,656 shares in the last quarter. Finally, Champlain Investment Partners LLC acquired a new stake in CommVault Systems in the 1st quarter valued at about $47,361,000. Institutional investors and hedge funds 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.