Commvault Systems (NASDAQ:CVLT) Stock Rating Lowered by Guggenheim

Commvault Systems (NASDAQ:CVLT) was downgraded by stock analysts at Guggenheim from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday, MarketBeat Ratings reports.

A number of other equities analysts have also recently issued reports on the stock. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada raised their price target on Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. DA Davidson upped their price objective on Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Piper Sandler raised their target price on Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Finally, KeyCorp upped their price target on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $140.00.

Commvault Systems Trading Down 1.1 %

Shares of CVLT opened at $146.23 on Tuesday. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 38.89 and a beta of 0.60. Commvault Systems has a 52 week low of $63.70 and a 52 week high of $165.73. The stock has a 50 day moving average of $151.19 and a 200-day moving average of $126.89.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. The firm had revenue of $224.67 million during the quarter, compared to the consensus estimate of $215.54 million. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.29 earnings per share. On average, sell-side analysts predict that Commvault Systems will post 1.66 earnings per share for the current fiscal year.

Insider Activity at Commvault Systems

In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the sale, the insider now directly owns 94,530 shares in the company, valued at approximately $14,251,342.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the completion of the transaction, the insider now directly owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the completion of the sale, the director now directly owns 7,131 shares in the company, valued at $1,097,389.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Commvault Systems

Several large investors have recently made changes to their positions in CVLT. AlphaMark Advisors LLC acquired a new stake in Commvault Systems during the third quarter valued at approximately $328,000. Ellsworth Advisors LLC increased its holdings in shares of Commvault Systems by 4.4% in the third quarter. Ellsworth Advisors LLC now owns 4,252 shares of the software maker’s stock valued at $654,000 after buying an additional 181 shares in the last quarter. Vontobel Holding Ltd. acquired a new stake in shares of Commvault Systems during the 3rd quarter valued at $1,126,000. Kapitalo Investimentos Ltda lifted its position in shares of Commvault Systems by 20.8% during the 3rd quarter. Kapitalo Investimentos Ltda now owns 2,758 shares of the software maker’s stock valued at $424,000 after acquiring an additional 474 shares during the last quarter. Finally, Ulland Investment Advisors LLC boosted its stake in shares of Commvault Systems by 16.1% during the 3rd quarter. Ulland Investment Advisors LLC now owns 6,449 shares of the software maker’s stock worth $992,000 after acquiring an additional 893 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

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.