Commvault Systems’ (CVLT) “Neutral” Rating Reaffirmed at Guggenheim

Guggenheim reiterated their neutral rating on shares of Commvault Systems (NASDAQ:CVLT) in a report published on Wednesday morning,Benzinga reports.

A number of other equities research analysts also recently issued reports on CVLT. StockNews.com downgraded shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Oppenheimer began coverage on shares of Commvault Systems in a report 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 shares of Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday. Royal Bank of Canada lifted their price objective on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Finally, KeyCorp upped their target price on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.44.

Commvault Systems Price Performance

Shares of CVLT stock opened at $159.26 on Wednesday. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of 41.80 and a beta of 0.65. The company’s fifty day simple moving average is $162.55 and its two-hundred day simple moving average is $154.21. Commvault Systems has a 1 year low of $88.34 and a 1 year high of $178.72.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. The company had revenue of $233.28 million for the quarter, compared to analyst estimates of $220.76 million. During the same period in the previous year, the company posted $0.30 EPS. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. Equities research analysts anticipate that Commvault Systems will post 1.68 EPS for the current year.

Insider Transactions at Commvault Systems

In other news, CEO Sanjay Mirchandani sold 10,775 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $165.30, for a total value of $1,781,107.50. Following the completion of the sale, the chief executive officer now directly owns 459,969 shares in the company, valued at approximately $76,032,875.70. The trade was a 2.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gary Merrill sold 1,523 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $164.89, for a total transaction of $251,127.47. Following the transaction, the insider now directly owns 93,007 shares in the company, valued at approximately $15,335,924.23. This represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 13,530 shares of company stock worth $2,244,755. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Commvault Systems

Several hedge funds have recently added to or reduced their stakes in CVLT. Capital Performance Advisors LLP bought a new stake in shares of Commvault Systems in the 3rd quarter valued at about $33,000. TFC Financial Management Inc. increased its stake in Commvault Systems by 294.1% in the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock worth $61,000 after purchasing an additional 300 shares during the period. Point72 DIFC Ltd bought a new stake in Commvault Systems in the third quarter valued at approximately $71,000. Signaturefd LLC boosted its stake in shares of Commvault Systems by 43.9% during the third quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock valued at $91,000 after purchasing an additional 180 shares during the period. Finally, TD Private Client Wealth LLC bought a new position in shares of Commvault Systems in the third quarter worth approximately $105,000. 93.50% of the stock is 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.