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.

Other equities analysts have also issued reports about the stock. Oppenheimer started coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective on the stock. Guggenheim downgraded 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 Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $151.25.

Commvault Systems Trading Down 2.4 %

Shares of CVLT stock opened at $153.98 on Wednesday. Commvault Systems has a twelve month low of $76.04 and a twelve month high of $178.72. The stock has a fifty day simple moving average of $165.54 and a two-hundred day simple moving average of $150.33. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of 38.98 and a beta of 0.65.

Commvault Systems (NASDAQ:CVLT) last released 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. The company had revenue of $233.28 million during the quarter, compared to analyst estimates of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 earnings per share. Research analysts predict that Commvault Systems will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling at Commvault Systems

In related news, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $164.89, for a total transaction of $251,127.47. Following the completion of the sale, the insider now 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 5,899 shares in the company, 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. In the last quarter, insiders have sold 13,530 shares of company stock worth $2,244,755. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Xponance Inc. grew its position in Commvault Systems by 1.3% during the 2nd quarter. Xponance Inc. now owns 6,371 shares of the software maker’s stock worth $775,000 after purchasing an additional 79 shares during the period. GAMMA Investing LLC grew its holdings in Commvault Systems by 13.7% during the fourth quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker’s stock worth $152,000 after acquiring an additional 121 shares during the period. Natixis Advisors LLC raised its position 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 acquiring an additional 138 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in Commvault Systems by 5.4% in the second quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock valued at $328,000 after acquiring an additional 139 shares during the period. Finally, Parallel Advisors LLC boosted its position in Commvault Systems by 5.9% in the 2nd 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 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.