StockNews.com Downgrades Commvault Systems (NASDAQ:CVLT) to Hold

StockNews.com downgraded shares of Commvault Systems (NASDAQ:CVLT) from a buy rating to a hold rating in a research note released on Monday.

A number of other equities analysts have also weighed in on CVLT. Cantor Fitzgerald increased their price target on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. KeyCorp lifted their price objective on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Oppenheimer assumed coverage on Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 target price for the company. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $156.44.

Commvault Systems Stock Down 1.0 %

CVLT opened at $186.02 on Monday. The firm has a market cap of $8.18 billion, a PE ratio of 48.82 and a beta of 0.65. The business has a fifty day simple moving average of $163.73 and a 200-day simple moving average of $158.71. Commvault Systems has a fifty-two week low of $90.32 and a fifty-two week high of $190.11.

Insider Buying and Selling at Commvault Systems

In related news, Director Allison Pickens sold 1,232 shares of the stock in a transaction 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 sale, the director now directly owns 5,899 shares in the company, valued at approximately $1,017,577.50. This trade represents a 17.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CVLT. Quarry LP lifted its holdings in shares of Commvault Systems by 888.2% during the 4th quarter. Quarry LP now owns 168 shares of the software maker’s stock valued at $25,000 after buying an additional 151 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Commvault Systems in the third quarter valued at approximately $33,000. Point72 Asia Singapore Pte. Ltd. grew its position in Commvault Systems by 409.0% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 341 shares of the software maker’s stock worth $51,000 after acquiring an additional 274 shares in the last quarter. TFC Financial Management Inc. increased its stake in shares of Commvault Systems by 294.1% during 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. Finally, Point72 DIFC Ltd bought a new position in shares of Commvault Systems during the 3rd quarter valued at $71,000. Hedge funds and other 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.