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

StockNews.com cut shares of Commvault Systems (NASDAQ:CVLT) from a strong-buy rating to a buy rating in a research report report published on Friday morning.

Several other analysts have also commented on CVLT. Royal Bank of Canada lifted their price target on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. KeyCorp boosted their target price on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. DA Davidson boosted their price target on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Piper Sandler increased their price objective on Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Commvault Systems presently has a consensus rating of “Moderate Buy” and an average price target of $144.29.

Commvault Systems Price Performance

CVLT opened at $157.29 on Friday. The firm has a market capitalization of $6.88 billion, a price-to-earnings ratio of 39.82 and a beta of 0.59. The company’s 50 day simple moving average is $150.04 and its two-hundred day simple moving average is $131.52. Commvault Systems has a 1-year low of $66.80 and a 1-year high of $171.26.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The firm had revenue of $233.28 million for the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The firm’s revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 earnings per share. On average, equities analysts anticipate that Commvault Systems will post 1.68 earnings per share for the current fiscal year.

Insider Activity

In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total value of $2,621,414.88. Following the transaction, the insider now directly owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.89, for a total value of $189,592.48. Following the sale, the director now directly owns 7,131 shares in the company, valued at $1,097,389.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gary Merrill sold 17,388 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total transaction 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. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. National Bank of Canada FI acquired a new position in shares of Commvault Systems in the second quarter worth $30,000. Capital Performance Advisors LLP purchased a new stake in Commvault Systems in the third quarter valued at approximately $33,000. Hexagon Capital Partners LLC grew its stake 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 buying an additional 196 shares during the period. Signaturefd LLC boosted its holdings in Commvault Systems by 70.8% in the second quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock valued at $50,000 after acquiring an additional 170 shares during the last quarter. Finally, Strategic Financial Concepts LLC purchased a new stake in Commvault Systems during the second quarter valued at about $56,000. 93.50% of the stock is owned by hedge funds and other 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.