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

StockNews.com downgraded shares of Commvault Systems (NASDAQ:CVLT - Free Report) from a strong-buy rating to a buy rating in a research note published on Thursday morning.

Several other equities analysts have also recently weighed in on the company. Oppenheimer assumed coverage on Commvault Systems in a report on Wednesday, November 13th. They set an "outperform" rating and a $200.00 price target for the company. Royal Bank of Canada boosted their target price on Commvault Systems from $164.00 to $182.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 30th. Finally, Guggenheim downgraded Commvault Systems from a "buy" rating to a "neutral" rating in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Commvault Systems has a consensus rating of "Moderate Buy" and a consensus price target of $154.00.

Commvault Systems Trading Up 0.2 %

Shares of NASDAQ:CVLT traded up $0.29 during midday trading on Thursday, reaching $161.71. 275,205 shares of the company were exchanged, compared to its average volume of 330,271. The stock has a market cap of $7.07 billion, a PE ratio of 40.94 and a beta of 0.65. The business's fifty day moving average is $165.13 and its two-hundred day moving average is $151.43. Commvault Systems has a one year low of $77.31 and a one year high of $178.72.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, topping the consensus estimate of $0.76 by $0.07. The business had revenue of $233.28 million for the quarter, compared to analysts' expectations of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The business's quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.30 EPS. As a group, sell-side analysts expect that Commvault Systems will post 1.66 EPS for the current year.

Insider Buying and Selling at Commvault Systems

In other news, Director Allison Pickens sold 1,232 shares of the company's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $172.50, for a total transaction of $212,520.00. Following the transaction, 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 document filed with the SEC, which is accessible through this hyperlink. Also, insider Gary Merrill sold 1,523 shares of the firm's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $164.89, for a total value of $251,127.47. Following the completion of the sale, the insider now directly owns 93,007 shares of the company's stock, valued at $15,335,924.23. The trade was a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,530 shares of company stock worth $2,244,755 over the last quarter. Insiders own 1.00% of the company's stock.

Institutional Trading of Commvault Systems

A number of institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC lifted its stake in shares of Commvault Systems by 5.4% during the second 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 during the period. American Century Companies Inc. lifted its stake in Commvault Systems by 3.1% during the 2nd quarter. American Century Companies Inc. now owns 25,499 shares of the software maker's stock valued at $3,100,000 after acquiring an additional 772 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Commvault Systems by 5.9% in the 2nd quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker's stock valued at $334,000 after acquiring an additional 153 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Commvault Systems by 30.8% during the second quarter. Envestnet Asset Management Inc. now owns 57,198 shares of the software maker's stock worth $6,954,000 after purchasing an additional 13,472 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Commvault Systems by 0.5% during the second 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 period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

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.