Commvault Systems (NASDAQ:CVLT) Given Neutral Rating at Guggenheim

Guggenheim restated their neutral rating on shares of Commvault Systems (NASDAQ:CVLT) in a research note released on Wednesday morning,Benzinga reports.

A number of other research analysts have also issued reports on CVLT. Oppenheimer initiated coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 target price on the stock. Royal Bank of Canada raised their price target on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald boosted their price objective on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research report on Wednesday. KeyCorp raised their target price on Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Commvault Systems presently has a consensus rating of “Moderate Buy” and an average target price of $156.44.

Commvault Systems Stock Down 8.3 %

CVLT stock opened at $146.82 on Wednesday. The firm has a 50 day moving average of $163.11 and a two-hundred day moving average of $153.93. Commvault Systems has a 12 month low of $83.60 and a 12 month high of $178.72. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 37.17 and a beta of 0.65.

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 the consensus estimate of $0.76 by $0.07. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The firm had revenue of $233.28 million during the quarter, compared to analyst estimates of $220.76 million. During the same period in the previous year, the company earned $0.30 EPS. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, research analysts expect that Commvault Systems will post 1.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sanjay Mirchandani sold 10,775 shares of the company’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 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Gary Merrill sold 1,523 shares of the firm’s 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 transaction, the insider now owns 93,007 shares of the company’s stock, valued at approximately $15,335,924.23. This represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,530 shares of company stock valued at $2,244,755 over the last ninety days. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Commvault Systems

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new stake in Commvault Systems in the third quarter valued at $33,000. TFC Financial Management Inc. grew its holdings in shares of Commvault Systems by 294.1% in the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock worth $61,000 after purchasing an additional 300 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of Commvault Systems in the 3rd quarter worth about $71,000. Signaturefd LLC increased its position in shares of 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 in the last quarter. Finally, TD Private Client Wealth LLC bought a new position in Commvault Systems during the 3rd quarter valued at about $105,000. Institutional investors own 93.50% of the company’s stock.

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.