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

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

A number of other research analysts also recently commented on the company. KeyCorp increased their price target on Commvault Systems from $122.00 to $140.00 and gave the company an overweight rating in a report on Tuesday. DA Davidson increased 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. Wells Fargo & Company increased their price target on Commvault Systems from $125.00 to $140.00 and gave the company an overweight rating in a report on Thursday, May 16th. Lake Street Capital increased their target price on Commvault Systems from $86.00 to $98.00 and gave the stock a hold rating in a report on Wednesday, May 1st. Finally, Royal Bank of Canada increased their target price on Commvault Systems from $97.00 to $112.00 and gave the stock a sector perform rating in a report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $124.50.

Commvault Systems Stock Performance

CVLT stock opened at $125.15 on Wednesday. Commvault Systems has a 1 year low of $63.70 and a 1 year high of $126.93. The firm has a market cap of $5.48 billion, a P/E ratio of 33.28 and a beta of 0.61. The stock has a 50-day simple moving average of $112.33 and a 200-day simple moving average of $98.17.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, April 30th. The software maker reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.10. The firm had revenue of $223.29 million during the quarter, compared to the consensus estimate of $213.00 million. Commvault Systems had a return on equity of 31.27% and a net margin of 20.13%. On average, equities research analysts predict that Commvault Systems will post 1.7 EPS for the current year.

Insider Buying and Selling

In related news, Director Charles E. Moran sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $110.83, for a total value of $1,219,130.00. Following the sale, the director now owns 10,967 shares of the company’s stock, valued at approximately $1,215,472.61. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Gary Merrill sold 6,040 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $110.20, for a total value of $665,608.00. Following the sale, the chief financial officer now owns 128,207 shares of the company’s stock, valued at approximately $14,128,411.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Charles E. Moran sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $110.83, for a total value of $1,219,130.00. Following the completion of the sale, the director now owns 10,967 shares in the company, valued at $1,215,472.61. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,816 shares of company stock valued at $6,613,874. Insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in Commvault Systems by 140.5% in the 2nd quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock valued at $64,000 after acquiring an additional 309 shares during the period. Headlands Technologies LLC acquired a new stake in Commvault Systems in the 4th quarter valued at approximately $67,000. Daiwa Securities Group Inc. increased its position in Commvault Systems by 700.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 800 shares of the software maker’s stock valued at $81,000 after acquiring an additional 700 shares during the period. PNC Financial Services Group Inc. increased its position in Commvault Systems by 28.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,429 shares of the software maker’s stock valued at $97,000 after acquiring an additional 317 shares during the period. Finally, EntryPoint Capital LLC increased its position in Commvault Systems by 123.9% in the 1st quarter. EntryPoint Capital LLC now owns 1,263 shares of the software maker’s stock valued at $128,000 after acquiring an additional 699 shares during the period. 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.