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

Commvault Systems (NASDAQ:CVLT - Get Free Report) was downgraded by analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a report issued on Wednesday.

A number of other equities research analysts have also weighed in on the company. Oppenheimer started coverage on Commvault Systems in a research note on Wednesday, November 13th. They set an "outperform" rating and a $200.00 price target on the stock. Royal Bank of Canada upped 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 note on Wednesday, October 30th. Finally, Guggenheim downgraded shares of Commvault Systems from a "buy" rating to a "neutral" rating in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Commvault Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $151.25.

Commvault Systems Trading Up 3.1 %

Shares of NASDAQ:CVLT traded up $4.75 during trading on Wednesday, reaching $157.80. The stock had a trading volume of 359,555 shares, compared to its average volume of 386,951. The firm's 50-day simple moving average is $165.63 and its 200 day simple moving average is $149.98. Commvault Systems has a one year low of $74.47 and a one year high of $178.72. The company has a market capitalization of $6.90 billion, a P/E ratio of 39.95 and a beta of 0.65.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. The company had revenue of $233.28 million during 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%. Commvault Systems's revenue was up 16.1% compared to the same quarter last year. During the same period last year, the firm earned $0.30 earnings per share. Equities research analysts forecast that Commvault Systems will post 1.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Allison Pickens sold 1,232 shares of the 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 sale, the director now directly owns 5,899 shares of the company's stock, valued at approximately $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 this hyperlink. Also, CEO Sanjay Mirchandani sold 10,775 shares of Commvault Systems stock in a transaction on 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 of the company's stock, valued at $76,032,875.70. The trade was a 2.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,530 shares of company stock valued at $2,244,755. Company insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Commvault Systems

A number of hedge funds have recently bought and sold shares of CVLT. Capital Performance Advisors LLP acquired a new stake in shares of Commvault Systems in the third quarter worth approximately $33,000. National Bank of Canada FI purchased a new stake in shares of Commvault Systems during the second quarter worth $30,000. Point72 DIFC Ltd acquired a new stake in shares of Commvault Systems in the third quarter valued at about $71,000. Signaturefd LLC lifted its stake in shares of Commvault Systems by 43.9% in the third quarter. Signaturefd LLC now owns 590 shares of the software maker's stock worth $91,000 after buying an additional 180 shares in the last quarter. Finally, TD Private Client Wealth LLC acquired a new position in Commvault Systems during the third quarter worth about $105,000. 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.