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

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

Several other research analysts have also issued reports on the company. Cantor Fitzgerald increased their target price on Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. Oppenheimer assumed coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an "outperform" rating and a $200.00 price objective for the company. Royal Bank of Canada raised their price objective 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. KeyCorp raised their price objective on Commvault Systems from $192.00 to $195.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Finally, Guggenheim reissued a "neutral" rating on shares of Commvault Systems in a report on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $156.44.

Commvault Systems Stock Down 7.7 %

Shares of NASDAQ:CVLT traded down $14.27 during trading on Monday, hitting $170.61. The stock had a trading volume of 743,211 shares, compared to its average volume of 525,356. Commvault Systems has a 12 month low of $92.36 and a 12 month high of $190.11. The company has a market capitalization of $7.51 billion, a PE ratio of 44.78 and a beta of 0.65. The firm's fifty day moving average is $163.97 and its 200 day moving average is $158.89.

Insider Activity at Commvault Systems

In other news, Director Allison Pickens sold 1,232 shares of the business's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $172.50, for a total value of $212,520.00. Following the transaction, the director now directly owns 5,899 shares in the company, valued at $1,017,577.50. The trade was a 17.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Commvault Systems

Large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its position in shares of Commvault Systems by 25.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker's stock valued at $90,278,000 after acquiring an additional 120,779 shares in the last quarter. Summit Partners Public Asset Management LLC bought a new stake in shares of Commvault Systems in the third quarter worth about $67,722,000. Vontobel Holding Ltd. bought a new stake in shares of Commvault Systems in the third quarter worth about $1,126,000. Point72 Hong Kong Ltd increased its holdings in shares of Commvault Systems by 37.9% in the third quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker's stock worth $3,603,000 after purchasing an additional 6,433 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Commvault Systems by 58.1% in the third quarter. Raymond James & Associates now owns 15,410 shares of the software maker's stock worth $2,371,000 after purchasing an additional 5,661 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other 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.