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

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

Other equities research analysts have also recently issued reports about the company. Piper Sandler upped their target price on Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Royal Bank of Canada lifted their target price on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research report on Wednesday. DA Davidson increased their target price on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, KeyCorp raised their price target on shares of Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $144.29.

Commvault Systems Stock Performance

Shares of NASDAQ CVLT opened at $156.19 on Friday. The stock has a market capitalization of $6.83 billion, a P/E ratio of 39.54 and a beta of 0.60. The stock’s fifty day moving average is $149.72 and its 200 day moving average is $129.96. Commvault Systems has a 52 week low of $64.32 and a 52 week high of $171.26.

Commvault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, beating the consensus estimate of $0.73 by $0.12. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The firm had revenue of $224.67 million for the quarter, compared to analyst estimates of $215.54 million. During the same period last year, the firm earned $0.29 EPS. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. Equities research analysts forecast that Commvault Systems will post 1.66 earnings per share for the current year.

Insider Buying and Selling

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.89, for a total value of $189,592.48. Following the completion of the transaction, the director now directly owns 7,131 shares in the company, valued at approximately $1,097,389.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the sale, the director now owns 7,131 shares in the company, valued at approximately $1,097,389.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gary Merrill sold 17,388 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total value of $2,621,414.88. Following the transaction, the insider now owns 94,530 shares of the company’s stock, valued at $14,251,342.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Commvault Systems

Institutional investors have recently modified their holdings of the company. National Bank of Canada FI bought a new stake in Commvault Systems during the second quarter valued at $30,000. Hexagon Capital Partners LLC boosted its position in shares of Commvault Systems by 124.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock valued at $43,000 after purchasing an additional 196 shares in the last quarter. Signaturefd LLC grew its stake in Commvault Systems by 70.8% during the second quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after purchasing an additional 170 shares during the period. GAMMA Investing LLC increased its holdings in Commvault Systems by 140.5% in the second quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock worth $64,000 after purchasing an additional 309 shares in the last quarter. Finally, DT Investment Partners LLC acquired a new position in Commvault Systems in the second quarter valued at approximately $69,000. 93.50% of the stock is owned by institutional investors.

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.