Commvault Systems (NASDAQ:CVLT) Stock Price Down 4.6% – What’s Next?

Shares of Commvault Systems, Inc. (NASDAQ:CVLT) dropped 4.6% during trading on Wednesday . The stock traded as low as $153.01 and last traded at $152.71. Approximately 90,008 shares changed hands during trading, a decline of 79% from the average daily volume of 437,640 shares. The stock had previously closed at $160.05.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. 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 research note on Wednesday, October 30th. KeyCorp increased their price objective on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday. Oppenheimer started coverage on Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 target price on the stock. StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Finally, William Blair raised Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Commvault Systems has an average rating of “Moderate Buy” and a consensus price target of $156.44.

Commvault Systems Trading Up 7.5 %

The stock has a market cap of $6.90 billion, a P/E ratio of 41.44 and a beta of 0.65. The company’s fifty day simple moving average is $163.11 and its 200-day simple moving average is $153.93.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. The firm had revenue of $233.28 million for 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 business’s revenue was up 16.1% compared to the same quarter last year. As a group, analysts expect that Commvault Systems, Inc. will post 1.68 earnings per share for the current fiscal year.

Insider Transactions at Commvault Systems

In related news, CEO Sanjay Mirchandani sold 10,775 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was 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 owns 459,969 shares in the company, valued at approximately $76,032,875.70. This represents a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Gary Merrill sold 1,523 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $164.89, for a total value of $251,127.47. Following the completion of the sale, the insider now directly owns 93,007 shares of the company’s stock, valued at approximately $15,335,924.23. This trade represents a 1.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,530 shares of company stock worth $2,244,755. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new position in shares of Commvault Systems during the 3rd quarter valued at about $33,000. TFC Financial Management Inc. raised its holdings in shares of Commvault Systems by 294.1% during the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock worth $61,000 after acquiring an additional 300 shares during the period. Point72 DIFC Ltd acquired a new position in Commvault Systems in the 3rd quarter worth $71,000. Signaturefd LLC raised its stake in shares of 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 purchasing an additional 180 shares during the period. Finally, TD Private Client Wealth LLC acquired a new position in shares of Commvault Systems during the third quarter worth about $105,000. 93.50% of the stock is owned by institutional investors and hedge funds.

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.