Commvault Systems (NASDAQ:CVLT) Trading Down 4.6% – Time to Sell?

Commvault Systems, Inc. (NASDAQ:CVLT)’s stock price 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 were traded during trading, a decline of 79% from the average daily volume of 437,640 shares. The stock had previously closed at $160.05.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. KeyCorp raised their price objective on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday. Royal Bank of Canada boosted their price objective on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Cantor Fitzgerald increased their target price on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research note on Wednesday. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a research note on Wednesday. Finally, Oppenheimer started coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $156.44.

Commvault Systems Stock Down 8.5 %

The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of 37.10 and a beta of 0.65. The stock’s 50-day simple moving average is $163.60 and its two-hundred day simple moving average is $153.98.

Commvault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $233.28 million during 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 company’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 earnings per share. On average, sell-side analysts forecast that Commvault Systems, Inc. will post 1.65 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Sanjay Mirchandani sold 10,775 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 459,969 shares in the company, valued at approximately $76,032,875.70. The trade was a 2.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Merrill sold 1,523 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 93,007 shares in the company, valued at approximately $15,335,924.23. The trade was a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,530 shares of company stock valued at $2,244,755 in the last three months. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Commvault Systems

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new stake in Commvault Systems during the 3rd quarter valued at approximately $33,000. Point72 DIFC Ltd purchased a new stake in Commvault Systems in the 3rd quarter valued at approximately $71,000. Signaturefd LLC increased its position in Commvault Systems by 43.9% during the 3rd quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock worth $91,000 after purchasing an additional 180 shares during the period. TD Private Client Wealth LLC purchased a new position in shares of Commvault Systems during the 3rd quarter worth approximately $105,000. Finally, Blue Trust Inc. lifted its holdings in shares of Commvault Systems by 38,400.0% in the 4th quarter. Blue Trust Inc. now owns 770 shares of the software maker’s stock valued at $118,000 after buying an additional 768 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.