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

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

Several other research firms have also recently commented on CVLT. Oppenheimer began coverage on Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target for the company. Guggenheim lowered Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Finally, Royal Bank of Canada upped their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Commvault Systems currently has an average rating of “Moderate Buy” and an average target price of $154.00.

Commvault Systems Price Performance

Shares of NASDAQ:CVLT opened at $161.71 on Thursday. Commvault Systems has a 1 year low of $77.31 and a 1 year high of $178.72. The business’s 50 day moving average price is $165.13 and its 200-day moving average price is $151.43. The firm has a market capitalization of $7.07 billion, a price-to-earnings ratio of 40.94 and a beta of 0.65.

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, topping the consensus estimate of $0.76 by $0.07. The company had revenue of $233.28 million for the quarter, compared to analysts’ expectations of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 EPS. On average, sell-side analysts expect that Commvault Systems will post 1.66 earnings per share for the current year.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $172.50, for a total transaction of $212,520.00. Following the transaction, the director now directly owns 5,899 shares in the company, valued at $1,017,577.50. This represents a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mirchandani sold 10,775 shares of Commvault Systems stock in a transaction on Monday, November 18th. The shares were 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 $76,032,875.70. The trade was a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,530 shares of company stock valued at $2,244,755 over the last 90 days. 1.00% of the stock is owned by insiders.

Institutional Trading of Commvault Systems

Institutional investors and hedge funds have recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new position in shares of Commvault Systems in the third quarter valued at approximately $33,000. Point72 DIFC Ltd purchased a new position in Commvault Systems in the 3rd quarter valued at approximately $71,000. Signaturefd LLC boosted its position in Commvault Systems by 43.9% in the 3rd quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock valued at $91,000 after buying an additional 180 shares during the period. TD Private Client Wealth LLC acquired a new position in shares of Commvault Systems in the third quarter worth $105,000. Finally, Centaurus Financial Inc. purchased a new stake in shares of Commvault Systems during the third quarter worth $126,000. 93.50% of the stock is currently 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.