Commvault Systems (NASDAQ:CVLT) Rating Lowered to Buy at StockNews.com

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

Other analysts have also issued research reports about the stock. Piper Sandler boosted their price target on shares of Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. DA Davidson boosted their target price on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Guggenheim cut shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. KeyCorp lifted their price target on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada increased their price objective on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $144.29.

Commvault Systems Price Performance

Shares of CVLT opened at $156.19 on Friday. Commvault Systems has a one year low of $64.32 and a one year high of $171.26. The company has a market cap of $6.83 billion, a PE ratio of 39.54 and a beta of 0.60. The stock has a 50-day moving average of $149.72 and a 200-day moving average of $129.96.

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

Insider Activity

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

Institutional Trading of Commvault Systems

A number of large investors have recently bought and sold shares of the company. Xponance Inc. lifted its position in shares of Commvault Systems by 1.3% during the 2nd quarter. Xponance Inc. now owns 6,371 shares of the software maker’s stock valued at $775,000 after buying an additional 79 shares during the last quarter. EFG Asset Management North America Corp. lifted its holdings in Commvault Systems by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 21,699 shares of the software maker’s stock valued at $2,637,000 after purchasing an additional 103 shares during the last quarter. Natixis Advisors LLC lifted its holdings in Commvault Systems by 1.0% during the second quarter. Natixis Advisors LLC now owns 13,693 shares of the software maker’s stock valued at $1,665,000 after purchasing an additional 138 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Commvault Systems by 5.4% during the second quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock worth $328,000 after purchasing an additional 139 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of Commvault Systems by 5.9% in the second quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker’s stock worth $334,000 after purchasing an additional 153 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

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.