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 report sent to investors on Friday.

Other analysts also recently issued research reports about the company. Royal Bank of Canada upped their target price on Commvault Systems from $164.00 to $182.00 and gave the stock a "sector perform" rating in a research note on Wednesday. Guggenheim downgraded Commvault Systems from a "buy" rating to a "neutral" rating in a research note on Tuesday, October 15th. DA Davidson upped their target price on Commvault Systems from $170.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. KeyCorp upped their target price on Commvault Systems from $140.00 to $170.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 31st. Finally, Piper Sandler upped their target price on Commvault Systems from $107.00 to $123.00 and gave the stock a "neutral" rating in a research note on Monday, July 15th. Four analysts have rated the stock with a hold rating and four 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 an average price target of $144.29.

Commvault Systems Trading Down 0.3 %

Shares of CVLT traded down $0.50 during trading hours on Friday, hitting $155.69. The company had a trading volume of 437,408 shares, compared to its average volume of 354,680. The company has a market capitalization of $6.81 billion, a PE ratio of 39.54 and a beta of 0.60. Commvault Systems has a one year low of $65.43 and a one year high of $171.26. The company's fifty day moving average price is $149.87 and its two-hundred day moving average price is $130.15.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its earnings results on Tuesday, July 30th. The software maker reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.12. The firm had revenue of $224.67 million for the quarter, compared to the consensus estimate of $215.54 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The firm's revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.29 EPS. Analysts forecast that Commvault Systems will post 1.68 earnings per share for the current year.

Insider Activity

In related news, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.89, for a total transaction of $189,592.48. Following the transaction, the director now owns 7,131 shares in the company, valued at approximately $1,097,389.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the firm's stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the completion of the sale, the insider now owns 94,530 shares of the company's stock, valued at $14,251,342.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.89, for a total value of $189,592.48. Following the completion of the sale, the director now directly owns 7,131 shares of the company's stock, valued at $1,097,389.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Commvault Systems

A number of institutional investors have recently modified their holdings of CVLT. Champlain Investment Partners LLC grew its stake in shares of Commvault Systems by 58.5% in the first quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker's stock valued at $83,704,000 after buying an additional 304,459 shares in the last quarter. Acadian Asset Management LLC grew its stake in Commvault Systems by 16.3% during the 1st quarter. Acadian Asset Management LLC now owns 1,596,635 shares of the software maker's stock worth $161,914,000 after purchasing an additional 223,347 shares in the last quarter. AQR Capital Management LLC grew its stake in Commvault Systems by 33.5% during the 2nd quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker's stock worth $78,882,000 after purchasing an additional 162,722 shares in the last quarter. Renaissance Technologies LLC grew its stake in Commvault Systems by 7.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker's stock worth $220,466,000 after purchasing an additional 126,800 shares in the last quarter. Finally, Congress Asset Management Co. grew its stake in Commvault Systems by 29.4% during the 3rd quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker's stock worth $75,719,000 after purchasing an additional 111,715 shares in the last quarter. 93.50% of the stock is 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.