CommVault Systems (NASDAQ:CVLT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday, Zacks.com reports. The brokerage presently has a $71.00 price objective on the software maker’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.69% from the company’s current price.

According to Zacks, “CommVault provides Unified Data Management solutions for high-performance data protection, universal availability and simplified management of data on complex storage networks. The CommVault QiNetix platform, based on CommVault’s Common Technology Engine, integrates Galaxy backup and recovery, snapshot management and recovery, remote replication, active data migration and archiving, e-mail compliance, enterprise service level management and reporting and storage resource management software solutions. The QiNetix unified approach is designed to allow customers to add integrate QiNetix components, at a fraction of the time, effort and money required by separate point products. “

Other equities analysts have also issued research reports about the company. BidaskClub lowered CommVault Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. ValuEngine lowered CommVault Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Piper Jaffray Companies lowered CommVault Systems from an “overweight” rating to a “neutral” rating and set a $66.00 target price for the company. in a research note on Monday, February 11th. Finally, Lake Street Capital raised their target price on CommVault Systems to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, January 30th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $75.13.

CVLT stock traded up $0.44 during midday trading on Monday, reaching $63.57. The stock had a trading volume of 1,228,337 shares, compared to its average volume of 496,799. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of -107.75, a price-to-earnings-growth ratio of 3.08 and a beta of 1.23. CommVault Systems has a 52-week low of $51.53 and a 52-week high of $72.65.

CommVault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, January 29th. The software maker reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.12. The company had revenue of $184.28 million during the quarter, compared to analyst estimates of $180.66 million. CommVault Systems had a return on equity of 5.78% and a net margin of 0.57%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $0.30 EPS. Equities analysts predict that CommVault Systems will post 0.79 earnings per share for the current year.

In other CommVault Systems news, insider Gary Merrill sold 1,385 shares of CommVault Systems stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $67.87, for a total transaction of $93,999.95. Following the completion of the transaction, the insider now owns 16,152 shares in the company, valued at approximately $1,096,236.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Al Bunte sold 64,167 shares of CommVault Systems stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $67.82, for a total value of $4,351,805.94. Following the transaction, the chief operating officer now owns 486,177 shares of the company’s stock, valued at approximately $32,972,524.14. The disclosure for this sale can be found here. Insiders have sold a total of 73,052 shares of company stock valued at $4,955,806 in the last quarter. Company insiders own 13.40% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors raised its stake in shares of CommVault Systems by 161.5% during the 4th quarter. Captrust Financial Advisors now owns 1,080 shares of the software maker’s stock valued at $64,000 after buying an additional 667 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of CommVault Systems by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 3,784,014 shares of the software maker’s stock valued at $264,880,000 after buying an additional 57,893 shares during the last quarter. MetLife Investment Advisors LLC raised its stake in shares of CommVault Systems by 15.3% during the 3rd quarter. MetLife Investment Advisors LLC now owns 51,370 shares of the software maker’s stock valued at $3,596,000 after buying an additional 6,830 shares during the last quarter. Strs Ohio increased its stake in shares of CommVault Systems by 1.5% in the 4th quarter. Strs Ohio now owns 19,700 shares of the software maker’s stock valued at $1,164,000 after purchasing an additional 300 shares in the last quarter. Finally, Comerica Bank increased its stake in shares of CommVault Systems by 1.8% in the 4th quarter. Comerica Bank now owns 25,756 shares of the software maker’s stock valued at $1,633,000 after purchasing an additional 457 shares in the last quarter. Institutional investors and hedge funds own 90.90% of the company’s stock.

CommVault Systems Company Profile

Commvault Systems, Inc provides data protection and information management software applications and related services in the United States, Canada, Latin America, Europe, the Middle East, Africa, Australia, New Zealand, Southeast Asia, and China. The company offers data protection, backup, and recovery software solutions for the backup of databases, files, applications, endpoints, and virtual machines according to data type and recovery profile; and help to optimize storage with deduplication, recover data, and leverage reports.

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