Commvault Systems (NASDAQ:CVLT) Lowered to “Buy” Rating by StockNews.com

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

Several other equities research analysts have also recently issued reports on CVLT. Royal Bank of Canada lifted their price objective on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Oppenheimer began coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price target for the company. Finally, Guggenheim lowered Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $151.25.

Commvault Systems Price Performance

Shares of CVLT stock opened at $153.05 on Wednesday. Commvault Systems has a 1-year low of $73.85 and a 1-year high of $178.72. The company has a market cap of $6.69 billion, a price-to-earnings ratio of 38.75 and a beta of 0.65. The stock has a 50 day simple moving average of $165.96 and a 200-day simple moving average of $149.75.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The company had revenue of $233.28 million during the quarter, compared to analysts’ expectations of $220.76 million. During the same period in the prior year, the business posted $0.30 earnings per share. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. Analysts anticipate that Commvault Systems will post 1.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Commvault Systems news, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction dated 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 of the company’s stock, valued at $15,335,924.23. The trade was a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Allison Pickens sold 1,232 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction of $212,520.00. Following the completion of the sale, the director now directly owns 5,899 shares of the company’s stock, valued at approximately $1,017,577.50. This trade represents a 17.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,530 shares of company stock valued at $2,244,755. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Commvault Systems

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