CommVault Systems (NASDAQ:CVLT) Rating Increased to Strong-Buy at Baird R W

Baird R W upgraded shares of CommVault Systems (NASDAQ:CVLT) to a strong-buy rating in a report released on Monday,Zacks.com reports.

Other analysts have also recently issued research reports about the company. DA Davidson increased their target price on CommVault Systems from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Guggenheim reaffirmed a “buy” rating and set a $220.00 price objective on shares of CommVault Systems in a research report on Thursday, October 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of CommVault Systems in a report on Wednesday, October 8th. Wells Fargo & Company raised their price target on shares of CommVault Systems from $190.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Finally, Piper Sandler raised shares of CommVault Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $195.00 to $200.00 in a research report on Monday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, CommVault Systems has a consensus rating of “Moderate Buy” and a consensus target price of $212.00.

CommVault Systems Stock Performance

NASDAQ CVLT opened at $174.15 on Monday. CommVault Systems has a one year low of $128.07 and a one year high of $200.68. The company has a market capitalization of $7.74 billion, a price-to-earnings ratio of 96.75 and a beta of 0.72. The company’s 50-day simple moving average is $180.63 and its two-hundred day simple moving average is $176.53.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, July 29th. The software maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. The firm 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 firm’s quarterly revenue was up 26% on a year-over-year basis. Equities analysts expect that CommVault Systems will post 1.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CommVault Systems news, CEO Sanjay Mirchandani sold 11,320 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $177.83, for a total transaction of $2,013,035.60. Following the sale, the chief executive officer owned 458,361 shares of the company’s stock, valued at approximately $81,510,336.63. The trade was a 2.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $2,713,584.44. Following the transaction, the insider owned 71,837 shares in the company, valued at $12,787,704.37. The trade was a 17.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,942 shares of company stock worth $10,019,157 over the last ninety days. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On CommVault Systems

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in CommVault Systems by 33.4% during the 1st quarter. GAMMA Investing LLC now owns 1,342 shares of the software maker’s stock worth $212,000 after acquiring an additional 336 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of CommVault Systems during the first quarter worth about $243,000. Oppenheimer & Co. Inc. boosted its position in CommVault Systems by 10.9% in the first quarter. Oppenheimer & Co. Inc. now owns 2,697 shares of the software maker’s stock valued at $425,000 after buying an additional 264 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in CommVault Systems in the 1st quarter worth approximately $1,229,000. Finally, Bessemer Group Inc. raised its position in CommVault Systems by 3,548.9% during the 1st quarter. Bessemer Group Inc. now owns 4,926 shares of the software maker’s stock worth $778,000 after buying an additional 4,791 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

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.