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

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

A number of other equities research analysts have also recently weighed in on the company. Royal Bank of Canada raised their price target 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 began coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price objective on the stock. Finally, Guggenheim downgraded shares of Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $154.56.

Commvault Systems Price Performance

Commvault Systems stock opened at $161.28 on Thursday. The company’s 50-day moving average is $164.92 and its 200-day moving average is $151.71. The firm has a market capitalization of $7.05 billion, a PE ratio of 40.83 and a beta of 0.65. Commvault Systems has a fifty-two week low of $77.56 and a fifty-two 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 earnings per share 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 business’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 earnings per share. As a group, analysts expect that Commvault Systems will post 1.66 EPS for the current year.

Insider Buying and Selling

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction of $212,520.00. Following the sale, the director now directly owns 5,899 shares in the company, valued at $1,017,577.50. This represents a 17.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sanjay Mirchandani sold 10,775 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the completion of the transaction, the chief executive officer now directly owns 459,969 shares in the company, valued at approximately $76,032,875.70. This represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,530 shares of company stock valued at $2,244,755. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Commvault Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC raised its holdings in shares of Commvault Systems by 5.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock worth $328,000 after buying an additional 139 shares in the last quarter. American Century Companies Inc. raised its stake in Commvault Systems by 3.1% during the second quarter. American Century Companies Inc. now owns 25,499 shares of the software maker’s stock worth $3,100,000 after acquiring an additional 772 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Commvault Systems by 5.9% in the second quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker’s stock worth $334,000 after acquiring an additional 153 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Commvault Systems by 30.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 57,198 shares of the software maker’s stock valued at $6,954,000 after purchasing an additional 13,472 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Commvault Systems by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 523,474 shares of the software maker’s stock valued at $63,637,000 after purchasing an additional 2,633 shares during the last quarter. 93.50% of the stock is currently owned by 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.