StockNews.com Downgrades Commvault Systems (NASDAQ:CVLT) to Hold

Commvault Systems (NASDAQ:CVLT) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

Several other research firms have also recently commented on CVLT. Cantor Fitzgerald increased their price objective on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Oppenheimer initiated coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target for the company. Royal Bank of Canada increased their price objective 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. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. Finally, Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $156.44.

Commvault Systems Trading Up 0.7 %

CVLT stock traded up $1.36 during midday trading on Monday, hitting $184.91. The company’s stock had a trading volume of 431,739 shares, compared to its average volume of 518,239. The firm’s 50-day moving average is $163.18 and its 200-day moving average is $158.15. Commvault Systems has a 12 month low of $90.32 and a 12 month high of $186.52. The company has a market cap of $8.14 billion, a PE ratio of 48.53 and a beta of 0.65.

Insider Buying and Selling at Commvault Systems

In related news, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $172.50, for a total value of $212,520.00. Following the completion of the transaction, the director now directly owns 5,899 shares of the company’s stock, valued at approximately $1,017,577.50. This trade represents a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Commvault Systems

Several institutional investors have recently bought and sold shares of the business. Quarry LP raised its holdings in Commvault Systems by 888.2% during the 4th quarter. Quarry LP now owns 168 shares of the software maker’s stock valued at $25,000 after buying an additional 151 shares during the period. Capital Performance Advisors LLP bought a new position in Commvault Systems during the third quarter valued at $33,000. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Commvault Systems by 409.0% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 341 shares of the software maker’s stock valued at $51,000 after acquiring an additional 274 shares during the period. TFC Financial Management Inc. lifted its holdings in shares of Commvault Systems by 294.1% in the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock worth $61,000 after acquiring an additional 300 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of Commvault Systems in the 3rd quarter worth about $71,000. 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.