Commvault Systems (NASDAQ:CVLT) Downgraded by StockNews.com

StockNews.com downgraded shares of Commvault Systems (NASDAQ:CVLT) from a strong-buy rating to a buy rating in a research note released on Wednesday morning.

A number of other research firms also recently issued reports on CVLT. Guggenheim reiterated a buy rating and issued a $122.00 price objective on shares of Commvault Systems in a report on Tuesday, June 25th. Wells Fargo & Company increased their price objective on Commvault Systems from $125.00 to $140.00 and gave the stock an overweight rating in a report on Thursday, May 16th. Royal Bank of Canada raised their price target on Commvault Systems from $121.00 to $152.00 and gave the company a sector perform rating in a report on Wednesday. Lake Street Capital raised their price target on Commvault Systems from $86.00 to $98.00 and gave the company a hold rating in a report on Wednesday, May 1st. Finally, DA Davidson raised their price target on Commvault Systems from $125.00 to $135.00 and gave the company a buy rating in a report on Friday, June 14th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $134.29.

Commvault Systems Trading Down 7.2 %

CVLT stock opened at $136.68 on Wednesday. The company’s 50 day moving average is $121.03 and its 200 day moving average is $105.53. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 36.35 and a beta of 0.61. Commvault Systems has a 1-year low of $63.70 and a 1-year high of $155.33.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.12. The firm had revenue of $224.67 million during the quarter, compared to analyst estimates of $215.54 million. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.29 earnings per share. As a group, sell-side analysts forecast that Commvault Systems will post 1.71 EPS for the current fiscal year.

Insider Activity at Commvault Systems

In other Commvault Systems news, Director Vivie Lee sold 2,500 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $112.19, for a total value of $280,475.00. Following the completion of the sale, the director now directly owns 13,589 shares in the company, valued at approximately $1,524,549.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Commvault Systems news, Director Charles E. Moran sold 11,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $110.83, for a total transaction of $1,219,130.00. Following the transaction, the director now owns 10,967 shares in the company, valued at $1,215,472.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vivie Lee sold 2,500 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $112.19, for a total value of $280,475.00. Following the transaction, the director now owns 13,589 shares in the company, valued at approximately $1,524,549.91. The disclosure for this sale can be found here. Insiders sold a total of 59,816 shares of company stock worth $6,613,874 in the last quarter. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Commvault Systems

A number of hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. lifted its position in shares of Commvault Systems by 61.2% in the fourth quarter. Pacer Advisors Inc. now owns 8,312 shares of the software maker’s stock valued at $664,000 after acquiring an additional 3,155 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Commvault Systems by 2.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,839 shares of the software maker’s stock valued at $1,584,000 after purchasing an additional 455 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in Commvault Systems during the fourth quarter worth $982,000. Handelsbanken Fonder AB raised its position in Commvault Systems by 34.7% in the fourth quarter. Handelsbanken Fonder AB now owns 8,930 shares of the software maker’s stock valued at $713,000 after purchasing an additional 2,300 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Commvault Systems in the fourth quarter valued at $67,000. 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.