Commvault Systems (NASDAQ:CVLT) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Commvault Systems (NASDAQ:CVLT) from a strong-buy rating to a buy rating in a research note released on Friday.

A number of other research firms have also commented on CVLT. Piper Sandler lifted their price objective on shares of Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. DA Davidson upped their price objective on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, September 6th. KeyCorp lifted their target price on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Guggenheim cut Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada lifted their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Commvault Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.29.

Commvault Systems Price Performance

NASDAQ CVLT opened at $155.69 on Friday. Commvault Systems has a 12 month low of $65.43 and a 12 month high of $171.26. The company has a market capitalization of $6.81 billion, a price-to-earnings ratio of 39.42 and a beta of 0.59. The firm’s fifty day moving average price is $149.93 and its 200 day moving average price is $131.07.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $233.28 million during the quarter, compared to analysts’ expectations of $220.76 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 16.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share. As a group, sell-side analysts forecast that Commvault Systems will post 1.68 earnings per share for the current year.

Insider Activity

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

Institutional Trading of Commvault Systems

Several large investors have recently modified their holdings of CVLT. Capital Performance Advisors LLP acquired a new position in shares of Commvault Systems during the 3rd quarter worth approximately $33,000. National Bank of Canada FI purchased a new position in Commvault Systems during the second quarter worth $30,000. Hexagon Capital Partners LLC raised its holdings in shares of Commvault Systems by 124.8% in the second quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock worth $43,000 after acquiring an additional 196 shares during the last quarter. Signaturefd LLC lifted its position in shares of Commvault Systems by 70.8% in the second quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock valued at $50,000 after acquiring an additional 170 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Commvault Systems by 140.5% during the second quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock valued at $64,000 after acquiring an additional 309 shares during the last quarter. 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.