StockNews.com Downgrades Commvault Systems (NASDAQ:CVLT) to Buy

Commvault Systems (NASDAQ:CVLT) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday.

A number of other research analysts have also recently issued reports on the stock. KeyCorp lifted their price target on shares of Commvault Systems from $122.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday. Lake Street Capital lifted their target price on shares of Commvault Systems from $86.00 to $98.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Wells Fargo & Company lifted their target price on shares of Commvault Systems from $125.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Royal Bank of Canada lifted their target price on shares of Commvault Systems from $97.00 to $112.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 1st. Finally, Guggenheim reaffirmed a “buy” rating and issued a $122.00 target price on shares of Commvault Systems in a report on Tuesday, June 25th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $124.50.

Commvault Systems Price Performance

Shares of NASDAQ CVLT opened at $125.15 on Wednesday. Commvault Systems has a 1 year low of $63.70 and a 1 year high of $126.93. The stock has a market cap of $5.48 billion, a P/E ratio of 33.28 and a beta of 0.61. The firm has a 50-day moving average of $112.89 and a 200 day moving average of $98.36.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, April 30th. The software maker reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.10. Commvault Systems had a net margin of 20.13% and a return on equity of 31.27%. The company had revenue of $223.29 million during the quarter, compared to analysts’ expectations of $213.00 million. Research analysts expect that Commvault Systems will post 1.7 earnings per share for the current fiscal year.

Insider Transactions at Commvault Systems

In other news, Director Charles E. Moran sold 11,000 shares of Commvault Systems stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $110.83, for a total value of $1,219,130.00. Following the completion of the sale, the director now directly owns 10,967 shares in the company, valued at $1,215,472.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Gary Merrill sold 661 shares of Commvault Systems stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $110.58, for a total value of $73,093.38. Following the completion of the sale, the chief financial officer now directly owns 114,373 shares in the company, valued at $12,647,366.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles E. Moran sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $110.83, for a total transaction of $1,219,130.00. Following the sale, the director now owns 10,967 shares of the company’s stock, valued at $1,215,472.61. The disclosure for this sale can be found here. Insiders sold 59,816 shares of company stock worth $6,613,874 over the last three months. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Commvault Systems

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Commvault Systems by 0.8% during the first quarter. Vanguard Group Inc. now owns 5,531,703 shares of the software maker’s stock valued at $561,081,000 after buying an additional 43,333 shares during the period. Acadian Asset Management LLC grew its position in Commvault Systems by 16.3% during the first quarter. Acadian Asset Management LLC now owns 1,596,635 shares of the software maker’s stock valued at $161,914,000 after buying an additional 223,347 shares during the period. Champlain Investment Partners LLC grew its position in Commvault Systems by 58.5% during the first quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker’s stock valued at $83,704,000 after buying an additional 304,459 shares during the period. Charles Schwab Investment Management Inc. grew its position in Commvault Systems by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 472,291 shares of the software maker’s stock valued at $37,712,000 after buying an additional 12,624 shares during the period. Finally, AQR Capital Management LLC grew its position in Commvault Systems by 14.9% during the third quarter. AQR Capital Management LLC now owns 345,628 shares of the software maker’s stock valued at $23,368,000 after buying an additional 44,816 shares during the period. 93.50% of the stock is currently owned by 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.