Commvault Systems (NASDAQ:CVLT) Rating Lowered 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 released on Thursday morning.

Other equities research analysts have also issued research reports about the stock. 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 note on Wednesday, October 30th. Guggenheim downgraded 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 price objective on the stock. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $154.56.

Commvault Systems Stock Down 0.3 %

CVLT stock opened at $161.28 on Thursday. The stock’s 50 day moving average is $164.92 and its 200-day moving average is $151.89. Commvault Systems has a twelve month low of $77.56 and a twelve month high of $178.72. The firm has a market capitalization of $7.05 billion, a PE ratio of 40.83 and a beta of 0.65.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share (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 net margin of 19.75% and a return on equity of 31.62%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 EPS. On average, equities research analysts anticipate that Commvault Systems will post 1.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction dated 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 owns 5,899 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary Merrill sold 1,523 shares of the business’s stock in a transaction that occurred 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 trade represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,530 shares of company stock valued at $2,244,755 over the last ninety days. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Commvault Systems

A number of large investors have recently made changes to their positions in CVLT. State Street Corp lifted its holdings in Commvault Systems by 1.6% during the 3rd quarter. State Street Corp now owns 1,594,045 shares of the software maker’s stock worth $245,244,000 after purchasing an additional 25,082 shares in the last quarter. AQR Capital Management LLC grew its stake in Commvault Systems by 33.5% during the second quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock valued at $78,882,000 after acquiring an additional 162,722 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Commvault Systems by 25.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after acquiring an additional 120,779 shares during the period. Dimensional Fund Advisors LP lifted its stake in Commvault Systems by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 523,474 shares of the software maker’s stock worth $63,637,000 after purchasing an additional 2,633 shares in the last quarter. Finally, Congress Asset Management Co. boosted its holdings in Commvault Systems by 29.4% in the 3rd quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker’s stock valued at $75,719,000 after purchasing an additional 111,715 shares during the period. 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.