BidaskClub Upgrades CommVault Systems (NASDAQ:CVLT) to Sell

CommVault Systems (NASDAQ:CVLT) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Saturday, BidAskClub reports.

CVLT has been the topic of several other research reports. Lake Street Capital upgraded CommVault Systems from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Tuesday, July 28th. Royal Bank of Canada restated a “hold” rating and set a $48.00 price target on shares of CommVault Systems in a report on Thursday, July 30th. Jefferies Financial Group upped their price target on CommVault Systems from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Zacks Investment Research upgraded CommVault Systems from a “sell” rating to a “hold” rating in a report on Wednesday, July 15th. Finally, Needham & Company LLC restated a “buy” rating and set a $56.00 price target on shares of CommVault Systems in a report on Tuesday, July 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. CommVault Systems presently has a consensus rating of “Hold” and a consensus target price of $51.17.

CVLT stock opened at $40.88 on Friday. The company has a market capitalization of $1.90 billion, a PE ratio of 74.33, a P/E/G ratio of 7.54 and a beta of 0.74. CommVault Systems has a 12-month low of $24.26 and a 12-month high of $51.90. The business’s fifty day moving average price is $42.51 and its 200 day moving average price is $39.77.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, July 28th. The software maker reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.35. The firm had revenue of $173.00 million for the quarter, compared to the consensus estimate of $152.87 million. CommVault Systems had a return on equity of 6.28% and a net margin of 0.51%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 EPS. Sell-side analysts expect that CommVault Systems will post 0.54 EPS for the current fiscal year.

In other news, VP Blasio Riccardo Di sold 6,180 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $42.93, for a total transaction of $265,307.40. Following the completion of the transaction, the vice president now directly owns 48,578 shares of the company’s stock, valued at approximately $2,085,453.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gary B. Smith sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $43.85, for a total value of $328,875.00. Following the transaction, the director now directly owns 52,089 shares of the company’s stock, valued at $2,284,102.65. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,093 shares of company stock valued at $1,515,800. Insiders own 12.00% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its position in shares of CommVault Systems by 2.2% in the 2nd quarter. Principal Financial Group Inc. now owns 134,039 shares of the software maker’s stock valued at $5,187,000 after purchasing an additional 2,904 shares during the period. Handelsbanken Fonder AB acquired a new stake in shares of CommVault Systems in the 2nd quarter valued at about $299,000. FMR LLC boosted its position in shares of CommVault Systems by 164.0% in the 2nd quarter. FMR LLC now owns 32,098 shares of the software maker’s stock valued at $1,242,000 after purchasing an additional 19,941 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of CommVault Systems by 0.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 356,504 shares of the software maker’s stock valued at $13,797,000 after purchasing an additional 3,137 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of CommVault Systems by 8.0% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 683,630 shares of the software maker’s stock valued at $26,456,000 after purchasing an additional 50,902 shares during the period. 94.35% of the stock is owned by hedge funds and other institutional investors.

About CommVault Systems

Commvault Systems, Inc provides data protection and information management software applications and related services in the United States, Canada, Latin America, Europe, the Middle East, Africa, Australia, New Zealand, Southeast Asia, and China. The company offers data protection, backup, and recovery software solutions for the backup of databases, files, applications, endpoints, and virtual machines according to data type and recovery profile; and help to optimize storage with deduplication, recover data, and leverage reports.

Further Reading: Neutral Rating

Analyst Recommendations for CommVault Systems (NASDAQ:CVLT)

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