Commvault Systems (NASDAQ:CVLT) Rating Lowered to “Buy” at StockNews.com

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

Several other equities analysts have also weighed in on CVLT. Royal Bank of Canada increased their price objective on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Oppenheimer initiated coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price target on the stock. Finally, Guggenheim lowered Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Four investment 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $151.25.

Commvault Systems Price Performance

Shares of NASDAQ:CVLT opened at $161.42 on Thursday. The business has a fifty day moving average price of $165.33 and a two-hundred day moving average price of $151.36. The company has a market capitalization of $7.06 billion, a PE ratio of 40.87 and a beta of 0.65. Commvault Systems has a 1 year low of $77.31 and a 1 year high of $178.72.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 earnings per share. Sell-side analysts anticipate that Commvault Systems will post 1.66 earnings per share for the current year.

Insider Activity

In other Commvault Systems news, 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 transaction of $251,127.47. Following the completion of the transaction, the insider now owns 93,007 shares of the company’s stock, valued at $15,335,924.23. The trade was a 1.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $172.50, for a total value of $212,520.00. Following the sale, the director now owns 5,899 shares in the company, valued at approximately $1,017,577.50. This represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,530 shares of company stock worth $2,244,755. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in Commvault Systems by 25.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock valued at $90,278,000 after purchasing an additional 120,779 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Commvault Systems in the 2nd quarter worth $2,221,000. Summit Partners Public Asset Management LLC purchased a new stake in shares of Commvault Systems during the 3rd quarter valued at $67,722,000. Vontobel Holding Ltd. bought a new stake in shares of Commvault Systems during the 3rd quarter worth $1,126,000. Finally, Point72 Hong Kong Ltd grew its position in Commvault Systems by 37.9% in the third quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker’s stock worth $3,603,000 after acquiring an additional 6,433 shares in the last quarter. 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.