Commvault Systems (NASDAQ:CVLT) Downgraded by StockNews.com

StockNews.com downgraded shares of Commvault Systems (NASDAQ:CVLT) from a strong-buy rating to a buy rating in a report published on Wednesday.

Several other research analysts have also weighed in on the company. Wells Fargo & Company increased their target price on Commvault Systems from $125.00 to $140.00 and gave the stock an overweight rating in a research report on Thursday, May 16th. Royal Bank of Canada boosted their price objective on Commvault Systems from $97.00 to $112.00 and gave the company a sector perform rating in a report on Wednesday, May 1st. DA Davidson increased their price objective on shares of Commvault Systems from $125.00 to $135.00 and gave the stock a buy rating in a research note on Friday, June 14th. KeyCorp upped their price objective on Commvault Systems from $122.00 to $140.00 and gave the stock an overweight rating in a research note on Tuesday. Finally, Guggenheim reiterated a buy rating and issued a $122.00 target price on shares of Commvault Systems in a research note on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Commvault Systems has an average rating of Moderate Buy and an average price target of $124.50.

Commvault Systems Trading Down 0.9 %

CVLT stock opened at $123.98 on Wednesday. The company has a market capitalization of $5.43 billion, a P/E ratio of 32.97 and a beta of 0.61. Commvault Systems has a twelve month low of $63.70 and a twelve month high of $126.93. The business has a 50 day simple moving average of $113.40 and a 200-day simple moving average of $98.67.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.10. The company had revenue of $223.29 million for the quarter, compared to analyst estimates of $213.00 million. Commvault Systems had a return on equity of 31.27% and a net margin of 20.13%. Research analysts predict that Commvault Systems will post 1.7 EPS for the current fiscal year.

Insider Buying and Selling at Commvault Systems

In related news, Director Vivie Lee sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $112.19, for a total value of $280,475.00. Following the sale, the director now directly owns 13,589 shares in the company, valued at approximately $1,524,549.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Charles E. Moran sold 11,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $110.83, for a total transaction of $1,219,130.00. Following the transaction, the director now directly owns 10,967 shares of the company’s stock, valued at $1,215,472.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vivie Lee sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $112.19, for a total transaction of $280,475.00. Following the transaction, the director now directly owns 13,589 shares in the company, valued at $1,524,549.91. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,816 shares of company stock valued at $6,613,874. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Commvault Systems

Several hedge funds and other institutional investors have recently modified their holdings of CVLT. GAMMA Investing LLC lifted its stake in shares of Commvault Systems by 140.5% in the 2nd quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock valued at $64,000 after purchasing an additional 309 shares during the last quarter. Comerica Bank raised its position in shares of Commvault Systems by 23.7% during the first quarter. Comerica Bank now owns 22,028 shares of the software maker’s stock valued at $2,234,000 after buying an additional 4,224 shares during the last quarter. Virtus Investment Advisers Inc. lifted its position in shares of Commvault Systems by 10.1% in the 1st quarter. Virtus Investment Advisers Inc. now owns 13,316 shares of the software maker’s stock worth $1,351,000 after acquiring an additional 1,226 shares during the period. Bayesian Capital Management LP acquired a new position in shares of Commvault Systems in the 1st quarter valued at $351,000. Finally, Aristides Capital LLC bought a new position in Commvault Systems during the first quarter worth about $277,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

About Commvault Systems

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.