StockNews.com Downgrades Commvault Systems (NASDAQ:CVLT) 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 Wednesday morning.

Several other equities research analysts have also recently issued reports on CVLT. Guggenheim cut Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Royal Bank of Canada boosted 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. Finally, Oppenheimer assumed coverage on Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price objective for the company. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $151.25.

Commvault Systems Stock Up 3.1 %

Shares of NASDAQ:CVLT opened at $157.80 on Wednesday. The firm has a fifty day simple moving average of $165.63 and a two-hundred day simple moving average of $149.98. The stock has a market capitalization of $6.90 billion, a P/E ratio of 39.95 and a beta of 0.65. Commvault Systems has a 52 week low of $74.47 and a 52 week high of $178.72.

Commvault Systems (NASDAQ:CVLT) last posted its earnings results 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 return on equity of 31.62% and a net margin of 19.75%. The company had revenue of $233.28 million during the quarter, compared to analyst estimates of $220.76 million. During the same quarter in the prior year, the business earned $0.30 earnings per share. Commvault Systems’s revenue was up 16.1% on a year-over-year basis. On average, 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 dated 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 represents a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary Merrill sold 1,523 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $164.89, for a total value of $251,127.47. Following the transaction, the insider now directly owns 93,007 shares in the company, valued at $15,335,924.23. The trade was a 1.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,530 shares of company stock worth $2,244,755. 1.00% of the stock is owned by insiders.

Institutional Trading of Commvault Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CWA Asset Management Group LLC boosted its stake in shares of Commvault Systems by 20.4% in the 4th quarter. CWA Asset Management Group LLC now owns 7,994 shares of the software maker’s stock valued at $1,206,000 after purchasing an additional 1,355 shares in the last quarter. GAMMA Investing LLC raised its holdings in Commvault Systems by 13.7% during the 4th quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker’s stock worth $152,000 after buying an additional 121 shares during the period. Tidal Investments LLC acquired a new stake in Commvault Systems in the 3rd quarter valued at $279,000. Sanctuary Advisors LLC acquired a new stake in shares of Commvault Systems during the 3rd quarter worth about $392,000. Finally, Virtu Financial LLC acquired a new stake in Commvault Systems during the third quarter worth approximately $774,000. 93.50% of the stock is currently 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.