Commvault Systems (NASDAQ:CVLT) Downgraded to Buy Rating by StockNews.com

StockNews.com downgraded shares of Commvault Systems (NASDAQ:CVLT) from a strong-buy rating to a buy rating in a research note released on Wednesday.

Several other equities research analysts have also recently issued reports on CVLT. Royal Bank of Canada lifted 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. Oppenheimer began coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price target on the stock. Finally, Guggenheim lowered Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $151.25.

Commvault Systems Price Performance

Shares of NASDAQ:CVLT opened at $157.80 on Wednesday. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of 39.95 and a beta of 0.65. The business’s 50 day moving average price is $165.63 and its 200-day moving average price is $149.98. Commvault Systems has a 1 year low of $74.47 and a 1 year high of $178.72.

Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. The business had revenue of $233.28 million for the quarter, compared to analyst estimates of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 earnings per share. On average, sell-side analysts expect that Commvault Systems will post 1.66 earnings per share for the current year.

Insider Transactions at Commvault Systems

In related news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $172.50, for a total value of $212,520.00. Following the sale, the director now owns 5,899 shares in the company, valued at $1,017,577.50. This represents a 17.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sanjay Mirchandani sold 10,775 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was 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 of the company’s stock, valued at approximately $76,032,875.70. This trade represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,530 shares of company stock worth $2,244,755. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Commvault Systems

Institutional investors have recently added to or reduced their stakes in the stock. National Bank of Canada FI purchased a new stake in Commvault Systems in the 2nd quarter worth approximately $30,000. Capital Performance Advisors LLP purchased a new position in shares of Commvault Systems in the 3rd quarter valued at approximately $33,000. Strategic Financial Concepts LLC purchased a new stake in Commvault Systems in the second quarter worth about $56,000. Point72 DIFC Ltd purchased a new stake in shares of Commvault Systems in the 3rd quarter worth approximately $71,000. Finally, Signaturefd LLC boosted its holdings in Commvault Systems by 43.9% in the third quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock worth $91,000 after acquiring an additional 180 shares in the last quarter. Institutional investors 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.