Commvault Systems (NASDAQ:CVLT) Cut to Buy at StockNews.com

Commvault Systems (NASDAQ:CVLT) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Wednesday.

Several other brokerages have also issued reports on CVLT. Royal Bank of Canada lifted their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Oppenheimer assumed coverage on Commvault Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target for the company. Finally, Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.25.

Commvault Systems Stock Down 4.7 %

CVLT opened at $153.05 on Wednesday. The stock’s fifty day moving average is $165.96 and its two-hundred day moving average is $149.75. The company has a market capitalization of $6.69 billion, a P/E ratio of 38.75 and a beta of 0.65. Commvault Systems has a 52 week low of $73.85 and a 52 week high of $178.72.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $220.76 million. During the same quarter last year, the firm posted $0.30 earnings per share. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. Equities analysts anticipate that Commvault Systems will post 1.66 earnings per share for the current year.

Insider Activity

In other news, Director Allison Pickens sold 1,232 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $172.50, for a total value of $212,520.00. Following the transaction, the director now directly owns 5,899 shares of the company’s stock, valued at approximately $1,017,577.50. This represents a 17.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $164.89, for a total value of $251,127.47. Following the sale, the insider now directly owns 93,007 shares of the company’s stock, valued at $15,335,924.23. This trade represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,530 shares of company stock worth $2,244,755 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Commvault Systems

A number of institutional investors have recently bought and sold shares of the business. National Bank of Canada FI purchased a new position in shares of Commvault Systems during the second quarter worth $30,000. Capital Performance Advisors LLP acquired a new position in shares of Commvault Systems in the 3rd quarter valued at about $33,000. Strategic Financial Concepts LLC purchased a new stake in shares of Commvault Systems in the second quarter worth about $56,000. Point72 DIFC Ltd acquired a new stake in Commvault Systems during the third quarter worth about $71,000. Finally, Signaturefd LLC raised its position in Commvault Systems by 43.9% during the third quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock valued at $91,000 after acquiring an additional 180 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

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.