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

StockNews.com lowered shares of Commvault Systems (NASDAQ:CVLT) from a strong-buy rating to a buy rating in a report issued on Wednesday morning.

Several other research firms have also recently weighed in on CVLT. Royal Bank of Canada raised their target price on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Guggenheim lowered Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Finally, Oppenheimer started coverage on Commvault Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 target price on the stock. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Commvault Systems presently has an average rating of “Moderate Buy” and a consensus price target of $151.25.

Commvault Systems Stock Down 2.4 %

Shares of NASDAQ:CVLT opened at $153.98 on Wednesday. The stock has a market capitalization of $6.73 billion, a PE ratio of 38.98 and a beta of 0.65. The firm’s 50 day moving average price is $165.54 and its 200-day moving average price is $150.33. Commvault Systems has a twelve month low of $76.04 and a twelve month high of $178.72.

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

Insider Buying and Selling

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction on Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction 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 $1,017,577.50. The trade was a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary Merrill sold 1,523 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $164.89, for a total transaction of $251,127.47. Following the completion of the sale, the insider now directly owns 93,007 shares in the company, valued at approximately $15,335,924.23. This represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,530 shares of company stock worth $2,244,755. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CVLT. National Bank of Canada FI purchased a new stake in shares of Commvault Systems in the second quarter worth approximately $30,000. Capital Performance Advisors LLP purchased a new stake in Commvault Systems in the third quarter worth $33,000. Strategic Financial Concepts LLC purchased a new stake in Commvault Systems in the second quarter worth $56,000. Point72 DIFC Ltd purchased a new stake in shares of Commvault Systems during the third quarter valued at $71,000. Finally, Signaturefd LLC boosted its stake in shares of Commvault Systems by 43.9% during the third quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock valued at $91,000 after purchasing an additional 180 shares during the period. Hedge funds and other 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.